Category Archives: 1120 C Corporation Income Taxes

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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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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New Taxes in the Affordable Care Act (“Obama Care”)

Posted on December 10, 2012 by William A Olson, CPA

Here are some of the new taxes you’re going to have to pay to pay for Obamacare: A 3.8% surtax on “investment income” when your adjusted gross income is more than $200,000 ($250,000 for joint-filers). What is “investment income?” Dividends, … Continue reading →

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The “Fiscal Cliff”… what is it?

Posted on November 28, 2012 by William A Olson, CPA

What is the fiscal cliff? A combination of tax increases and spending cuts automatically scheduled to take effect January 1, 2013 unless Congress and the President take action. Automatic spending cuts Since Congress failed last year to reach a bipartisan debt-reduction … Continue reading →

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Post-Election Tax Policy: A briefing from CCH

Posted on November 15, 2012 by William A Olson, CPA

This is a great briefing on what we can expect post-election when it comes to tax policy. An excerpt… President Obama secured a second term in office November 6, 2012, in the end winning the Electoral College by a wide margin. The President’sre-election … Continue reading →

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Personal Opinion: What will happen to taxes in 2013?

Posted on November 8, 2012 by William A Olson, CPA

With the election over, the two parties can now (hopefully) focus on tax reform. CORPORATE TAX REFORM: Both parties agree that lowering the overall corporate tax rate while eliminating deductions and “loopholes” is a good idea… so I imagine that this … Continue reading →

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