Author Archives: William A Olson, CPA

USA Today Article: Looming small business tax hike explained

Here’s the link.

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REPOSTING: Year End Tax Planning

We are fast approaching the end of the 2012 tax year and that 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 … Continue reading

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Michigan Taxes, Personal Finance, Small Business | Comments Off on REPOSTING: Year End Tax Planning

Alternative Minimum Tax (AMT)… Planning for the end of 2012

As of this post, Congress has not acted to “patch” the AMT exemption amount for 2012. It is very likely that they will as stated here, but an adequate tax plan necessitates that you calculate your projected tax liability under … Continue reading

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Tax Provisions Expiring at the End of 2012

Without action by Congress and the President, there are several tax provisions scheduled to expire at the end of this year. Without proper tax planning, you could be unpleasantly surprised with a big tax bill this April because of the … Continue reading

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Year End Tax Projections

Although September is not even over, it is a good time to start thinking about year end tax planning. I know it does not sound like fun, but a little advance planning will almost always help you reduce the taxes you … Continue reading

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 S Corporation Taxes, Michigan Taxes, Personal Finance, Small Business, Tax filing due dates | Comments Off on Year End Tax Projections

It’s time for end of year tax planning

We are fast approaching the end of the third quarter 2012 and that is the perfect time to do some end of year tax planning… before it is too late. The first step is to estimate or project your tax … Continue reading

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Michigan Taxes, Personal Finance | Comments Off on It’s time for end of year tax planning

A business start up checklist from the SBA

If you are starting a business, here’s a good place to find some useful information. SBA Small Business Startup Checklist.

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AICPA Article on Tackling Health Care Reform

Here’s a good summary of the health care reform bill and what it means to your business.

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Small Business | Comments Off on AICPA Article on Tackling Health Care Reform

Shareholder Compensation and Health Insurance Premiums

If you have an S Corporation, this is a must read… S Corporation Compensation and Medical Insurance Issues When computing compensation for employees and shareholders, S corporations may run into a variety of issues. The information below may help to clarify … Continue reading

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Calculating your total taxes paid

Although it gets the most press coverage, your Federal Income Tax bill isn’t the only tax you pay. You also might pay State income taxes, real estate taxes, sales tax and taxes on your cable bill and cell phone bill. … Continue reading

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