Bruce A. Willey, J.D., C.P.A

5 posts
Bruce Willey is an attorney and CPA based out of Cedar Rapids, Iowa. His practice, Willey O'Brien, L.C., focuses on providing practical business and tax solutions for entrepreneurs. He also speaks and writes on issues of interest to small business owners.
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It’s Not Too Late to Reduce Your 2010 Business Taxes

Taxes are a reality, but there is nothing that says you have to overpay your taxes. In these difficult times retention of cash in your business is particularly important. Taking advantage of available provisions of federal tax law can help preserve your cash flow, allowing you to retain working capital.     In the Small Business...
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Tax Season Done Right

Tax season is upon us, and you may be looking at the stack of tax forms on the corner of your desk with fear. Unfortunately, it is just so easy to wait, to put it off, to procrastinate.     But don’t! By following these four simple steps you can take control of the tax preparation...
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What To Do If You Get Audited

The mail includes a plain white, double-window envelope; its return address reads “Internal Revenue Service.” Your pulse quickens a bit. What did I do? What did I miss?     You tear open the envelope and the letter informs you that your tax return for a certain year has been selected for audit. Despite the panic...
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How to Save Taxes Before Year-End

So you are reviewing your year-to-date profit and loss statement and realize your business has had a better year than you thought. Suddenly your surprise turns to anguish when you realize the tax bill you may be facing. Where do you get the cash to pay the bill?     End of the year cash flow...
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How to Avoid Triggering an IRS Audit

It's the dread of many a business owner – getting audited by the Internal Revenue Service. Facing an IRS audit can be a complicated and potentially expensive distraction for your business, particularly if you're a startup. In reality, fortunately, the number of returns audited in any year is very small. Sources estimate about 1% of...