2018 Mileage Rate Increase

Starting on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54.5 cents for every mile of business travel driven, up 1 cent from the rate for 2017. 18 cents per mile driven for medical or moving purposes, up 1 cent from the […]

Pay your SALT Now!

The new Republican tax bill would cap the deduction for state and local taxes at $10,000 through 2025. This will be the total deduction allowable for state income tax, local tax and property taxes.  For those of you living in high tax states such as California and New York, pay your state and local income […]

What’s in the New Tax Reform Plan?

Trump’s Tax Reform Plan By David Floyd | Updated December 16, 2017 — 3:05 PM EST House and Senate Republicans released the text of a bill to overhaul the federal tax code on Dec. 15, with final votes expected the following week. The bill represents a compromise between two significantly different bills the two chambers passed over the preceding […]

Wells Fargo Employees Involved in Bank Fraud and ID Theft Scheme

U.S. Attorneys » Central District of California » News SHARE Department of Justice U.S. Attorney’s Office Central District of California FOR IMMEDIATE RELEASE Thursday, January 12, 2017 Ringleader of Bank Fraud Scheme that Used Information Stolen by Wells Fargo Employees Sentenced to over 7 Years in Federal Prison             LOS ANGELES – The organizer of […]

Credit Card Fraud and ID Theft – Beware of Wells Fargo!

My Horrible Experience with Wells Fargo in Dealing with Credit Card Fraud and ID Theft – Will the Problem Improve or Only Get Worse? By J. Mark Olson CPA As we now enter into the holiday season, I thought it was appropriate to share my horrible experience with recent credit card fraud and ID theft.  […]

How to Unlock Hidden Cash From Your Accounts Receivable

Have you ever wondered why you can’t pay your vendors?  Have you ever taken a good, hard, serious look at your accounts receivable?  Your accounts receivable could be a very good source of cash if properly managed.  Do not let them get old.  The older your accounts receivable get, the harder they are to collect.  […]

The Importance of Accounting and Bookkeeping

During my career, I have come across many companies who simply do not understand the importance of maintaining a good, clean set of books.  These are the companies that are unwilling to spend the money where it is needed most.  The value of a good bookkeeper and/or a solid accounting department is worth their weight […]

Tax Law Changes You Need to Know for 2013

If you are a high-income household making more than $400,000 (single) or $450,000 (married filing joint), your tax bracket will be up to 39.6% from 35%. However, this will not affect your 2012 income tax return. Those in the new high tax bracket will also be subject to a capital gains rate of 20% – […]

We Are Expanding

J Mark Olson CPA Inc is pleased to announce that we have formed an alliance with Lyndon Group ( to better serve our clients.  Together we form a boutique management consulting firm with finance & accounting professionals serving companies in your industry throughout Southern California and beyond. Our practice leaders are Big 4 CPAs or […]

Is Your Company Ready for an Audit?

Now is a good time for companies to prepare for their year-end audits.  However, many companies are unprepared.  Depending upon the company is and it’s complexity, it can take several weeks to months to be prepared for the audit. You should consider the following action items and questions before you start: Start early. Select your […]