Category Archives: Personal Finance

More money saving tips

Posted on August 4, 2016 by William A Olson, CPA

In the never-ending quest to save more money, I have a few more ideas I would like to share… For small household repairs, use YouTube to teach yourself to do-it-yourself. Look for credit cards that offer cash-back rewards. Many cards … Continue reading →

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It’s never too early to do tax planning

Posted on May 30, 2014 by William A Olson, CPA

There are always things you can be doing throughout the year to lower your tax bill at year end. Full year tax projections are a great way to see how what you do now will make your life easier come … Continue reading →

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Your year-end tax to do list: what you do before the Dec. 31 deadline can save you big bucks at tax time

Posted on November 20, 2013 by William A Olson, CPA

More year end tax planning ideas here.

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 Your year-end tax to do list: what you do before the Dec. 31 deadline can save you big bucks at tax time

4 Tax Planning Moves to Make Before Year End (from Market Watch)

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

With the end of the year approaching, it’s time to make some moves to lower your 2013 tax bill. This is the second installment of our two-part series on that subject (also see: Tax moves to make before Christmas). Strategy: … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 S Corporation Taxes, Michigan Taxes, Personal Finance | Comments Off on 4 Tax Planning Moves to Make Before Year End (from Market Watch)

2013 changes to your Income Taxes

Posted on November 4, 2013 by William A Olson, CPA

Even in a year with no changes to the tax laws, it’s often a good idea to do an income tax projection at some point during the year to see if there are ways to lower your tax liability or … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 S Corporation Taxes, Personal Finance | Comments Off on 2013 changes to your Income Taxes

Year End Tax Planning

Posted on October 26, 2013 by William A Olson, CPA

The 2013 tax year is almost over and it 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 31st. The first step … Continue reading →

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

New Method for Calculating the Home Office Deduction (Journal of Accountancy)

Posted on August 8, 2013 by William A Olson, CPA

Very simply, the new method available for tax years 2013 and after, allows you to calculate your home office deduction by multiplying the square footage of your home office by $5 (max = 300 square feet or $1,500). The qualifications … Continue reading →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 S Corporation Taxes, IRS, Personal Finance, Small Business, Technology | Comments Off on New Method for Calculating the Home Office Deduction (Journal of Accountancy)

Lease versus Buy

Posted on July 30, 2013 by William A Olson, CPA

It’s a question that you should ask every time you are deciding to buy a car or purchase a business asset of any significance… if you have the option to lease or to buy, that is. Often times the answer … Continue reading →

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Tax planning ideas for 2013 from the AICPA

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

It’s never too early to be thinking about tax planning for 2013… in fact, the sooner the better. Here’s a link to the AICPA’s 2013 tax planning guide.

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Personal Finance, Small Business | Comments Off on Tax planning ideas for 2013 from the AICPA

Mid Year Tax Planning Ideas

Posted on March 30, 2013 by William A Olson, CPA

From TaxSlayer.com… some of these are too late to do but will work for next year. Although TaxSlayer.com can’t promise everyone a refund, we can say if you follow these 8 tips you should be on your way to a … Continue reading →

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