ph: 701-341-0171
ph: 701-341-0171
Our Online Office brings financial services directly into your home or business enabling you to more actively participate in your financial management. Please browse the pages of this site and feel free to e-mail any questions, suggestions or other feedback.
CONTACT US LEARN MORETax planning and tax forecasting services for individual and small business clients is a core competency of the firm. Effective tax minimization begins with long-term tax strategizing to establish overall objectives and is maintained with conscientious and consistent annual tax forecasting and mid-year tax planning.
CONTACT US LEARN MORESmall business tax return preparation and filing instructions is a core service offered to our clients. Whether your company is a C corporation, S Corp, Limited Liability Company, Partnership or Sole Proprietor a properly prepared tax return can be filed to minimize the tax owed.
CONTACT US LEARN MOREAt Olson Tax Service we are here to assist you with all your individual, farm and small business tax preparation needs.
We have recently moved: we are now be located at 214 Main St. E. in Mayville, ND.
Call (701) 341-0171 to schedule your appointment this tax season.
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Review Tax and Financial Topics of Interest in the Additional Pages section of our site
Jun 07, 2023
Summertime offers unique tax and money saving opportunities for the whole family.In this month’s newsletter, find out how day camps for your kids may be tax deductible, if you know the rules! And summer is a time when household expenses creep up, so there is an article identifying common causes and ideas on how to manage the extra expense.Also read about shielding your emergency fund from inflation and why you should always turn to a trusted tax professional if you receive a letter from the IRS. read more.
May 03, 2023
It's never too early to start thinking about cutting next year's tax bill. In this month's newsletter, read about several ideas to help lower your 2023 tax obligation. And speaking of taxes, summer work often introduces several tax wrinkles that hit young workers and seasonal workers alike. So included this month are some hints to address taxes and summer employment.Spring is also graduation season! In addition to all those congratulation cards, why not spend a minute reviewing some classic money basics. It's a great review for both the newly graduated and for the rest of us as a reminder of how we can make our financial lives run a bit more smoothly.Finally, there's a word or two about managing cash for your business and how the concept of separation of duties is a classic way to head off any problems.As always, feel free to pass this information on to anyone that may find … read more.
Apr 05, 2023
If it seems like the income tax has been around forever, well, it's sort of true.The modern Form 1040 was unveiled in 1913, the first year, after paying for the Civil War, that Americans were required pay income taxes to the federal government. With the April filing deadline right around the corner, this month's newsletter has a fun quiz to test your knowledge about this very first individual income tax form.And with inflation still upon us, included are some great ideas to help manage your money and tips to help reduce your monthly bills. All this and suggestions on identifying and managing scams that are all too frequently targeting older Americans round out this month's newsletter.As always, feel free to pass this information on to anyone that may find it useful and call if you have any questions or concerns. read more.
Mar 01, 2023
Recent legislation is taking a broad sweep at retirement accounts. While many of the rule changes are implemented over a number of years, some of them are important to know about right away. Summarized in this issue are some of the more important provisions.With the pending flow-through filing deadline on March 15th, it is important to understand the nasty late-filing penalty the IRS imposes. So if this impacts you and your side business, review this article.There are also ideas to help review your homeowner's insurance policy and a great article outlining tips to think about if you are looking to supplement your income during retirement.As always, feel free to pass this information on to anyone that may find it useful and call if you have any questions or concerns. read more.
Feb 01, 2023
Now that tax documents have started arriving in your inbox and mailbox, it's easy to set them off to the side to worry about later. There may be some benefit, however, to filing your tax return as soon as you can. In this month's newsletter, read about several reasons why you should consider filing your return early.There are also tips to help make sure the preparation of your tax return doesn't get stuck, and the keys to success if you're an independent contractor.Also read about 3 rules to help jumpstart your savings.As always, feel free to reach out with any question or comments. read more.
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