Monthly Archives: December 2012

Year End Checklist for businesses

Posted on December 27, 2012 by William A Olson, CPA

Closing Your Books As you are cleaning up your accounting records for year-end, here are some steps you can take now to make tax-time easier: Verify that you have W-9 forms for each of your independent contractors or at least … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Accounting, IRS, Michigan Taxes, QuickBooks, Small Business, Tax filing due dates | Comments Off on Year End Checklist for businesses

Merry Christmas and happy holidays!

Posted on December 25, 2012 by William A Olson, CPA

I’ll see you in the New Year on the other side of the “fiscal cliff”.

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Another Fiscal Cliff Calculator from the Tax Policy Center

Posted on December 14, 2012 by William A Olson, CPA

The calculator is a tool to help you understand how current tax policy affects real families and what would happen if we changed that policy. With this version, you can compare four alternative tax policies to see how different taxpayers … Continue reading →

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Fiscal Cliff 101

Posted on December 11, 2012 by William A Olson, CPA

Here’s a great article on what the Fiscal Cliff is from the Washington Post. The term “fiscal cliff” is Washington shorthand for a series of automatic spending cuts and tax increases set to take effect in January. If enacted, they … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Personal Finance | Comments Off on Fiscal Cliff 101

New Taxes in the Affordable Care Act (“Obama Care”)

Posted on December 10, 2012 by William A Olson, CPA

Here are some of the new taxes you’re going to have to pay to pay for Obamacare: A 3.8% surtax on “investment income” when your adjusted gross income is more than $200,000 ($250,000 for joint-filers). What is “investment income?” Dividends, … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Small Business | Comments Off on New Taxes in the Affordable Care Act (“Obama Care”)

What will the “Fiscal Cliff” cost you?

Posted on December 5, 2012 by William A Olson, CPA

This article from Bloomberg provides links to various tools you can use to calculate what the “fiscal cliff” will mean to you in terms of a tax increase… assuming Congress takes no action, that is.

Posted in 1040 Personal Income Taxes, Personal Finance | Comments Off on What will the “Fiscal Cliff” cost you?