Alan L. Olsen

Alan L. Olsen

A specialist in income tax planning, he frequently lectures and writes articles on tax issues for professional organizations and community groups. He received a BS in Accounting from Brigham Young University and an MBA in Taxation from California State University at Hayward.

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Alan L. Olsen Free Articles

Ten Tax Planning Ideas for Small Businesses in 2009

If you are a small business owner looking for cost cutting ideas here are ten tax planning ideas that may result in substantial tax savings. The following article highlights planning areas often missed by business owners. You should consult a qualified tax advisor to determine if any of these areas are appropriate for you and your business.

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Disclaiming An Inheritance

There are a few rules that you should be aware of when making a qualified disclaimer.

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Selling Gold Coins

Q: My mother-in-law wants to convert some gold coins, specifically American Gold Eagles and Canadian Gold Maple Leafs, into CDs and/or money market funds. How does one convert gold coins into cash in order to do this? What are the IRS reporting requirements?

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Lending Money to Your Corporation

Starting a business takes a substantial amount of money and effort. However, there are right and wrong ways to go about lending money to your corporation.

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6 Tips to Consider When Faced With Foreclosure

Many find themselves faced with Foreclosure in the world today. Sometimes the circumstances leading to Foreclosure isn’t our fault. If faced with Foreclosure most likely you want to know what to do, how to get help and if you can get out if it. Each situation is unique; to help those faced with foreclosure we’ve assembled a list of 6 tips on what you should do when faced with this nightmare.

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8 Steps for Getting Out of Debt

The Average American spends a great deal more than they make every year. This results in a financial pitfall to them later in life. If you find yourself digging deeper into the empty wallet there are ten steps that you can use as a crutch to help free you of the overwhelming financial burden of debt.

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Who Benefits Under the Economic Stimulus Plan of 2008

The new Economic Stimulus package will do little to turn around our current economy. However, many individuals will welcome the additional handout from “Uncle Sam”. The $150 billion stimulus package focused on three areas: Families, Business, and Borrowers.

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Tax Strategies for the Wealthy: Qualified Personal Residence Trust (QPRT)

Wealth management is an important issue for those with substantial assets to protect. Many people incorrectly assume that their estates will escape federal estate tax as a result of underestimating what their principal residence will be worth when they die. Often, our homes are our most valuable assets. The Qualified Personal Residence Trust (QPRT) provides a means for significantly reducing the estate tax consequences of the family home and one vacation home. The QPRT also provides an excellent asset protection vehicle since you no longer own the property once the trust is established.

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New Ethics Rules Mean Some CEOs Will Be Hunting for a New CPA

The relationship between a chief executive and his accountant is an extremely important one. An outside accountant can be one of your most trusted business advisors and a key to your success. That’s one of the reasons why a new initiative by the Public Company Accounting Oversight Board (PCAOB) is creating a stir in the offices of CEOs across the land.

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Ten Questions That You Should Ask Prior to Purchasing a Stock

The first thing that you should understand is how the company earns money. Just because everyone else is buying the stock and the price has run up tremendously does not mean that you should also be jumping on the band wagon.

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Estate Tax Repeal or Revision?

In 2010 the estate tax will be repealed and the gift tax rate will fall to 35%. However, this repeal is effective only for that year and the estate tax will be reinstated in some form the very next year (2011). The US Senate is considering options to reduce or eliminate the estate tax. Currently, the estate tax only applies to fortunes over $2 million (at 46%) and is estimated to affect 12,600 taxpayers in 2006.

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Tax Break for College Tuition Payments

If you are writing a college tuition check, there may be a hidden tax break that will allow you to deduct a part of your college tuition payment. In order to do this, you must utilize a 'Section 529' College Savings Plan in one of the 26 states that provide a tax deduction or credit when you deposit the money.

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Deducting Start-Up Expenses: An Open Or Shut Case

Starting a business typically takes more than a little know-how. More often than not, it requires cold, hard cash. However, there is some good news -- you may qualify for a little help from Uncle Sam in the form of a tax deduction for some of your start- up costs.

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5 Simple Rules for Successful Software Technology Outsourcing

The current economic climate, opportunities and round the clock service necessity requires most companies to outsource many technology projects to countries like India, China and eastern European countries. If you are a small software company, successful outsourcing is crucial to your development. For all the complexity this notion has, success in outsourcing is quite easily achievable as long as it is viewed as a core process in an organization. The list below features a simple set of rules for achieving effective outsourcing.

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Recent Trends in the Venture Capital Community

Recently, I attended a Venture Capital Conference in which one of the speakers predicted we would see technology change in the next 15 years that would rival advancements similar to the past 100 years. That is a bold prediction, but as new technologies continue to emerge we are seeing some of the so called “Star Trek” and “Star Wars” technologies are now becoming reality.

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