Category Archives: Personal Finance

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 →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Personal Finance | Comments Off on Fiscal Cliff 101

What will the “Fiscal Cliff” cost you?

Posted on December 5, 2012 by William A Olson, CPA

This article from Bloomberg provides links to various tools you can use to calculate what the “fiscal cliff” will mean to you in terms of a tax increase… assuming Congress takes no action, that is.

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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 →

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, IRS, Personal Finance | Comments Off on The “Fiscal Cliff”… what is it?

USA Today Article: Looming small business tax hike explained

Posted on November 5, 2012 by William A Olson, CPA

Here’s the link.

Posted in 1040 Personal Income Taxes, 1065 Partnership Income Taxes, 1120 C Corporation Income Taxes, 1120 S Corporation Taxes, Personal Finance, Small Business | Comments Off on USA Today Article: Looming small business tax hike explained

REPOSTING: Year End Tax Planning

Posted on October 31, 2012 by William A Olson, CPA

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

Year End Tax Projections

Posted on September 26, 2012 by William A Olson, CPA

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

Posted on September 19, 2012 by William A Olson, CPA

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

Calculating your total taxes paid

Posted on August 29, 2012 by William A Olson, CPA

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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Seven Tax Tips for Newlyweds

Posted on August 22, 2012 by William A Olson, CPA

Recently married? Here are seven tax tips you should know.

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Money Watch: Is using 401k to pay off mortgage a good idea? (USA Today Article)

Posted on July 30, 2012 by William A Olson, CPA

Below is the text from an article in the USA Today… it’s a great question and is not that easy to answer. Whether you should do this or not, depends on your age, your mortgage interest rate, your marginal tax … Continue reading →

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