Category Archives: 1065 Partnership Income Taxes

Tax Myths

Posted on April 11, 2011 by William A Olson, CPA

Here’s a great article on some very widespread tax myths… one of my favorites is that claiming the home office deduction will lead to an audit. Read on to find more… Tax myths can lead to costly mistakes from the … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Tax filing due dates | Comments Off on Tax Myths

Even with a Government shutdown, your taxes are still due 4/18… but your refund will be delayed

Posted on April 7, 2011 by William A Olson, CPA

Government Shutdown Threatens to Delay Tax Refunds — but Taxes Still Due April 18 from ABC News

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Senate Passes 1099 Repeal

Posted on April 6, 2011 by William A Olson, CPA

A big relief for small businesses… and Obama is sure to sign this. Senate Passes 1099 Repeal from CFO.com

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Accounting, IRS, QuickBooks | Comments Off on Senate Passes 1099 Repeal

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 | Comments Off on Business Use of Automobile Rules

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 →

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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 →

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How to find the right tax preparer from Consumer Reports

Posted on February 16, 2011 by William A Olson, CPA

http://blogs.consumerreports.org/money/2011/02/track-down-best-tax-preparer-cpa-enrolled-agent-irs-ptin-number-accountant-form-1040-.html

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Why it’s worth it to hire a tax preparer

Posted on February 13, 2011 by William A Olson, CPA

From the Wall Street Journal… http://online.wsj.com/article/SB10001424052748703843004576140781360491222.html?mod=sf2tw

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Tax Preparer | Comments Off on Why it’s worth it to hire a tax preparer