Category Archives: 1120 C Corporation Income Taxes

Business Use of Automobile Rules

Posted on March 22, 2011 by William A Olson, CPA

What can you deduct for the business use of your automobile? See the IRS link below… this is one of the most asked tax questions and often the least understood by the average business owner: http://www.irs.gov/taxtopics/tc510.html

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS | Leave a comment

Like Kind Exchanges

Posted on March 12, 2011 by William A Olson, CPA

I have prepared a few tax returns this year (2010) where the owners of a partnership have taken advantage of the like kind exchange rules to defer recognizing a gain on the sale of real property. This kind of transaction … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Tax Preparer | Leave a comment

S Corporation vs. LLC

Posted on February 18, 2011 by William A Olson, CPA

Here’s a great article that explains the difference between S corporations and LLCs. Please contact my office if you have any questions related to this topic. http://www.powerhomebiz.com/vol136/structure.htm IRS CIRCULAR 230 DISCLOSURE REQUIREMENT: IRS Circular 230 requires us to notify you … Continue reading →