Category Archives: 1040 Personal Income Taxes

IRA Early Withdrawal Penalty Exceptions

Posted on February 19, 2013 by William A Olson, CPA

This is a question I get asked a lot… so I figured a blog post would be a good idea. See this article for a list of the penalty exceptions for early withdrawals from IRA/retirement accounts.

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5 Overlooked Tax Deductions from the USA Today

Posted on February 15, 2013 by William A Olson, CPA

There’s a lot of talk right now regarding Americans paying their “fair share” to the tax man. While many issues are up for debate, most parties agree the tax code needs some work. But as you gather documentation to do … Continue reading →

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What to expect for refunds in 2013 (from IRS.gov)

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

Click here for the full posting on the IRS website.

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USA Today: Start of 2012 Tax Filing Season Delayed

Posted on January 11, 2013 by William A Olson, CPA

As previously posted, the start of the 2012 tax filing season has been delayed. See here.

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Start of Tax Filing Season Delayed (AICPA Article)

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

The IRS announced on Tuesday that it plans to open the 2013 filing season and begin processing many individual income tax returns on Jan. 30 (IR-2013-2). However, not all taxpayers will be able to start filing tax returns on that … Continue reading →

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A summary of the Fiscal Cliff deal

Posted on January 3, 2013 by William A Olson, CPA

From the American Institute of Certified Public Accountants (AICPA): Congress passes fiscal cliff act BY PAUL BONNER AND ALISTAIR M. NEVIUS JANUARY 1, 2013 Pulling back from the “fiscal cliff” at the 13th hour, Congress on Tuesday preserved most of … Continue reading →

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We are over the “Fiscal Cliff”… even with the Senate Deal

Posted on January 1, 2013 by William A Olson, CPA

The House of Representatives has yet to vote on the deal reached in the Senate and the bill will then need to be signed by the President. Here’s a summary of the deal as it stands… Fiscal Cliff Deal Highlights … Continue reading →

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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 →

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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 →

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