Author Archives: William A Olson, CPA

4 Tax Planning Moves to Make Before Year End (from Market Watch)

Posted on November 7, 2013 by William A Olson, CPA

With the end of the year approaching, it’s time to make some moves to lower your 2013 tax bill. This is the second installment of our two-part series on that subject (also see: Tax moves to make before Christmas). Strategy: … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 S Corporation Taxes, Michigan Taxes, Personal Finance | Comments Off on 4 Tax Planning Moves to Make Before Year End (from Market Watch)

2013 changes to your Income Taxes

Posted on November 4, 2013 by William A Olson, CPA

Even in a year with no changes to the tax laws, it’s often a good idea to do an income tax projection at some point during the year to see if there are ways to lower your tax liability or … Continue reading →

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Year End Tax Planning

Posted on October 26, 2013 by William A Olson, CPA

The 2013 tax year is almost over and it is the perfect time to do some end of year tax planning… before it is too late. Many tax planning decisions can only be made before December 31st. The first step … 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 Year End Tax Planning

Health Insurance Premium Tax Credit Calculator

Posted on September 30, 2013 by William A Olson, CPA

Under the Affordable Care Act, individuals and families at or below 400% of the poverty level will be eligible for Health Insurance Premium tax credits under the Affordable Care Act. For a family of four, 400% of the poverty level … Continue reading →

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New Method for Calculating the Home Office Deduction (Journal of Accountancy)

Posted on August 8, 2013 by William A Olson, CPA

Very simply, the new method available for tax years 2013 and after, allows you to calculate your home office deduction by multiplying the square footage of your home office by $5 (max = 300 square feet or $1,500). The qualifications … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 S Corporation Taxes, IRS, Personal Finance, Small Business, Technology | Comments Off on New Method for Calculating the Home Office Deduction (Journal of Accountancy)

Lease versus Buy

Posted on July 30, 2013 by William A Olson, CPA

It’s a question that you should ask every time you are deciding to buy a car or purchase a business asset of any significance… if you have the option to lease or to buy, that is. Often times the answer … Continue reading →

Posted in Personal Finance, Small Business | Comments Off on Lease versus Buy

The Employer Mandate in the Affordable Care Act Delayed until 2015

Posted on July 8, 2013 by William A Olson, CPA

A mandate in the Affordable Care Act, President Barack Obama‘s signature domestic law, will be put partially on hold until 2015. The mandate requires companies with at least 50 or more full-time employees to provide healthcare coverage or face penalties up to $3000 per worker. … Continue reading →

Posted in IRS, Small Business | Comments Off on The Employer Mandate in the Affordable Care Act Delayed until 2015

Tax planning ideas for 2013 from the AICPA

Posted on May 9, 2013 by William A Olson, CPA

It’s never too early to be thinking about tax planning for 2013… in fact, the sooner the better. Here’s a link to the AICPA’s 2013 tax planning guide.

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Personal Finance, Small Business | Comments Off on Tax planning ideas for 2013 from the AICPA

Waiting for your refund? IRS slowly catching up (USA Today)

Posted on April 5, 2013 by William A Olson, CPA

The Internal Revenue service is catching up on processing tax returns in this delayed tax-filing season, but it’s still behind last year’s pace. The IRS says it has processed 77.1 million tax returns through March 22, vs. 82 million from … Continue reading →

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Mid Year Tax Planning Ideas

Posted on March 30, 2013 by William A Olson, CPA

From TaxSlayer.com… some of these are too late to do but will work for next year. Although TaxSlayer.com can’t promise everyone a refund, we can say if you follow these 8 tips you should be on your way to a … Continue reading →

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