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Author Archives: William A Olson, CPA
Most Common Bookkeeping Mistakes
1. USING THE WRONG ACCOUNTING METHOD There are two main business accounting methods: cash and accrual. Cash accounting is the simpler method because it’s based on the actual flow of cash in and out of a business. The cash method … Continue reading
Posted in Personal Finance, QuickBooks, Small Business
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Local CPA suspected of running a Ponzi Scheme
See here from Channel 7 in Detroit… a reminder to be careful who you pick to do your taxes.
Posted in Uncategorized
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Court Strikes Down IRS Tax Preparer Registration Program
Here’s an article from the Journal of Accountancy explaining what happened to the tax return preparer registration program. It was always important to be careful who you get to do your taxes… make sure they’re qualified. This article from About.com … Continue reading
Posted in Tax Preparer
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USA Today: The importance of sending 1099s
If you don’t file 1099s for your contractors, you lose protections from the federal government. (Photo: USA TODAY illustration) STORY HIGHLIGHTS IRS is vigilant on misuse of contractor status Businesses incur no tax obligations for independent contractors But you have … Continue reading
Posted in IRS, Small Business, Tax filing due dates
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QuickBooks Online: A review from the CPA Practice Advisor
QuickBooks Online is a product more and more of my clients are using. It’s accounting in the “cloud” which allows you to access your accounting records from anywhere you can access the internet. You can give your accountant access to … Continue reading
Posted in Accounting, QuickBooks, Small Business, Technology
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