What is a lien?

When a tax payer owes money to the IRS, the IRS can file a tax lien against them. A lien is a legal claim that the IRS issues on the taxpayer’s property to satisfy the debt owed. The debt is not just the taxes owed, but interest and penalties assessed.

The lien will be for the amount of your tax debt. If the tax debt is not satisfied, the lien can be attached to assets such as your car, home or business.

How is a lien filed?

When a debt is owed, the IRS will usually send several notices to the taxpayer informing them of the debt. Before resorting to enforced collection, the Automated Collection System (ACS) will contact the taxpayer informing them that they have 24 hours to make the payment before collection is enforced.

The IRS does not need to issue a lien before collecting assets from the taxpayer. However, IRS agents usually acquire a court order before entering the taxpayer’s property.

How to avoid a tax lien?

A lien may reflect badly on your credit rating making it very difficult to take out any future loans. Proper preparation is the surest way to avoid problems with the IRS. The following tips will help in to avoid having a lien filed against you.

1. Pay all tax bills in a timely manner. A good way to do this is to set aside the money that you will need to pay in tax right after you receive a paycheck. If you are self-employed, find the tax percentage for your income and set it aside in a separate bank account.
2. Respect IRS agents. Keep in mind that, as a taxpayer, a “Bill of Rights” has been written in your behalf.   However, when working with the IRS, rude comments will not work in your favor. Realize that the IRS agent that you are working with is also an individual and may be able to work things out with you. Disrespect will most likely not yield the results that you want.
3. Work with a professional. A CPA can help you to understand what tax amounts need to be paid and when. This may have a higher short term cost, but will sometimes save you stress and money later on.

What to do if a lien is filed against you?

If a lien is filed against you, immediately seek professional help. A CPA or tax attorney may be able to assist you. A lien can be released 30 days after the debt is satisfied, but be prepared to pay additional fees to release and file the lien.

It is always better, less expensive and more convenient to avoid tax liens.

For more information on IRS collections, please visit http://www.groco.com/readingroom/tax_irscollections.aspx.

Greenstein, Rogoff, Olsen & Co. (GROCO®) is the trusted financial advisor to the venture capitalists who helped build companies such as Google, Skype, America Online, Oracle, Sun Microsystems, Compaq, Macromedia, eBay, and Genentech. Consistently ranked as one of the top accounting firms in the Bay Area, our firm provides consulting services and accounting services to high net-worth individuals and closely-held businesses. www.groco.com

So you are under audit with the IRS or the Franchise Tax Board. Thinking about representing yourself? I suggest that you think again. As a former IRS agent, some of the easiest adjustments came from individuals representing themselves. Simply put, I would ask questions and then listen to responses. Within the first 15 minutes, I would have enough information in my arsenal to make the person turn over some more tax dollars.

I remember the contractor that I visited at his onsite office location. As I walked through the office, I saw a computer in the office. I said, “Nice computer”. The contractor then responded that he never knew how to really use the computer except for playing games.

Unknowingly, this contractor just admitted that he was not entitled to $3,000 worth of deductions.

Just in case you are still set on representing yourself, then I suggest these strategies for handling the IRS audit:

1. You should understand the procedures for the IRS audits and appeal procedures.

2. Do not volunteer information to the IRS and pretend to be helpful.

3. The IRS will be focused on certain items in your return, stick with the issues under audit, and provide the agent with proper documentation for the expense or income item claimed.

4. Do not allow the IRS to go on fishing expeditions into areas that fall outside the audit.

5. If your return was prepared wrong, discuss the situation with a qualified professional. We all make mistakes. If the mistake was innocent, then admit the mistake and go on.

For help with representing yourself before the IRS, contact us at 510-797-8661 or www.groco.com.
_____________________________________________________________________
Alan L. Olsen is Managing Partner at Greenstein, Rogoff, Olsen & Co., LLP, a leading CPA firm in the San Francisco Bay Area. With more than 25 years of experience in public accounting, Alan works with some of the most successful venture capitalists in the world, developing innovative financial strategies for individuals and businesses. Olsen is also host of KDOW’s American Dreams: Keys to Life’s Success Radio Show.

Many people often ask the question, “What can I do to avoid an IRS Audit?” So how can you dodge the bullet during the auditing selection process? Although there is no way to completely avoid being selected for an IRS audit, there are steps you can take to minimize the likelihood.

1. Be honest - Living by the simple rule of honesty will save a lot of stress. Report all income including; unreported interest, dividends or miscellaneous income. The IRS has record of all your 1099s, so be sure to report them. Omitting income will raise a red flag. Be sure to properly report all your expenses and deductions.

2. Be organized - Keeping good records is important. Properly record any expenses that will be deducted. Business expenses such as travel, meals, mileage etc. can be deducted, as long as they have been recorded. Keep all receipts, they will help to prove an accurate deduction. Be sure to give exact numbers versus rounding. When it’s time to submit your return, double check and make sure there is no missing information or signatures.

3. Be prepared if you are self-employed – The IRS realizes that self-employment also increases the likelihood of unreported income. You must have proof of all income and business expenses if you are self-employed. Do not record personal expenses as business deductions.

4. Watch your deductions - Taking deductions that are unreasonable for your income bracket may raise a red flag to the IRS. The IRS uses a computer to select returns to audit. This computer gives each tax return a score and your score is compared to others within your income bracket. High scores result from unrealistic deductions within certain tax brackets. High score returns are passed on to an IRS agent for review. Be sure you have proof to back up all deductions.

5. Avoid Fluctuation in Income – The IRS has a good idea of how much you make; if they notice a drastic change in your income this may raise another red flag. Be aware of reporting abnormally low income for your profession. On the flip side, be extra cautious if your income is over $100,000. IRS audits are 5 times more likely in this tax bracket.

6. Watch your Number of Charitable Contributions – Charity is important, but be aware that a red flag may arise if you made a lot of contributions. Hold on to all receipts, particularly if donating five times as much as the average person in your income bracket.

7. Use a Tax Professional – The best way to prevent or avoid an IRS audit is to use a CPA or accounting professional. These returns are often less likely to be selected for an IRS audit than a self-prepared return. A professional knows the laws and can help you to make sure that all proper deductions are taken and that all income is reported.

Taking these steps in preparing your return can help you to avoid possible red flags that could lead to an IRS audit.

Alan L. Olsen is Managing Partner at Greenstein, Rogoff, Olsen & Co., LLP, a leading CPA firm in the San Francisco Bay Area. With more than 25 years of experience in public accounting, Alan works with some of the most successful venture capitalists in the world, developing innovative financial strategies for individuals and businesses. For information on filing your tax return this year, contact Alan at 866-CPA-2006 or at www.groco.com.

Many find themselves faced with foreclosure in the world today. Sometimes the circumstances leading to foreclosure are not your fault. If faced with foreclosure you will most likely want to know what to do, how to get help and if you can get out of the situation. Each situation is unique; to help those faced with foreclosure we’ve assembled a list of 6 helpful tips.

1) Talk With Your Lender Now

Talk with your lender now and be honest about your situation. The sooner you make this appointment, the more options you’ll have. Look at the possibilities of making interest only payments for a while, or refinancing your loan. Lenders are willing to help because generally they lose profit on foreclosures and would prefer to work out an agreement instead of taking your house.

2) Scams

Within hours of being notified that your foreclosure is beginning you will be getting phone calls. Be wary of false consultants. Never sign the deed of your house over to someone else or allow them to speak with the bank in your behalf.

3) Chapter 13 Bankruptcy

You could file Bankruptcy chapter 13. Here you will be able to keep your home and other possessions under the supervision of the court. You will then be given a specific time period to pay the debt accumulated.

4) Sell the Property

This should only be resorted to if you are able to sell the property for more than you owe the lender. This needs to be done before the lender auctions your house.

5) Short Sale in Lieu of Foreclosure

Upon agreeing with the lender you can quickly sell your house for less than you owe. Be careful to clarify all details connected with this agreement because some banks will expect to be paid in full even in if you are making a short sale agreement.

6) Second Mortgage

Sometimes you will be given the option of taking out a second mortgage. Do not be lured into this trap. Interest rates are extremely high, sometimes up to 17%. More than likely you will just exhaust your resources with this option.
________________________________________________________________________
Alan L. Olsen is Managing Partner at Greenstein, Rogoff, Olsen & Co., LLP, a leading CPA firm in the San Francisco Bay Area. With more than 25 years of experience in public accounting, Alan works with some of the most successful venture capitalists in the world, developing innovative financial strategies for individuals and businesses. Olsen is also host of KDOW’s American Dreams: Keys to Life’s Success Radio Show.

Expensive art collections, investment hobbies and offshore bank accounts may raise red flags when it comes to IRS audits. In 2011, the Internal Revenue Service audited 29.93% of taxpayers who reported more than $10 million of annual income [1]. This percentage increased by 18.38% from 2010.

Although there is no way to completely avoid being selected for an IRS audit, there are steps you can take to minimize the likelihood of an audit.

1. Be honest – Living by the simple rule of honesty will save a lot of stress. Report all income including; unreported interest, dividends or miscellaneous income. The IRS has record of all your 1099s, so be sure to report them. Omitting income will raise a red flag. Be sure to properly report all your expenses and deductions.

2. Be organized – Keeping organized records is important. Properly record any expenses that will be deducted. Business expenses such as travel, meals, mileage etc. can be deducted, as long as they have been recorded. Keep all receipts, they will help to prove an accurate deduction. Be sure to give exact numbers versus rounding. When it’s time to submit your return, double check and make sure there is no missing information or signatures.

3. Be prepared if you are self-employed – The IRS realizes that self-employment also increases the likelihood of unreported income. You must have proof of all income and business expenses if you are self-employed. Do not record personal expenses as business deductions.

4. Watch your deductions – Taking deductions that are unreasonable for your income bracket may raise a red flag to the IRS. Be sure you have proper records for proof of all of your deductions.

5. Avoid Fluctuation in Income – The IRS has a good idea of how much you make; if they notice a drastic change in your income this may raise another red flag. Be aware of reporting abnormally low income for your profession. On the flip side, be extra cautious if your income is over $100,000. IRS audits are 5 times more likely in this tax bracket.

6. Watch your Number of Charitable Contributions – Donating to charities is important, but be aware that a red flag may arise if you have made a lot of contributions. Hold on to all receipts, particularly if you are donating five times as much as the average person in your income bracket.

7. Use a Tax Professional – The best way to prevent or avoid an IRS audit is to use a CPA or accounting professional. These returns are often less likely to be selected for an IRS audit than a self-prepared return. A professional knows the laws and can help you to make sure that all proper deductions are taken and that all income is reported.

Taking these steps in preparing your return can help you to avoid possible red flags that could lead to an IRS audit.

[1] “IRS Audit Rate nears 30% for Those Making $10 Million and Up.” Bloomberg. Mar. 2012. Web. Sept. 2012. http://www.bloomberg.com/

____________________________________________________________________
Alan L. Olsen is Managing Partner at Greenstein, Rogoff, Olsen & Co., LLP, a leading CPA firm in the San Francisco Bay Area. With more than 25 years of experience in public accounting, Alan works with some of the most successful venture capitalists in the world, developing innovative financial strategies for individuals and businesses. Olsen is also host of KDOW’s American Dreams: Keys to Life’s Success Radio Show.

The average price of post-secondary education in the United States was $14,006 as of 2008. [1] For college students whose income is limited, if not nonexistent, expenses add up fast. Being aware of educational tax deductions and credits can help you to save quite a few dollars on your tax return.

As many explore what educational deductions or credits they can take, there may be confusion as to what expenses they can actually claim. The descriptions below should help you in better understanding what qualified expenses are for educational deductions and credits:

1. Lifetime Learning Credit
For 2012, you can claim the Lifetime Learning Credit. This allows you to receive up to $2,000 for qualified tuition and related education expenses paid for a student enrolled in an eligible education institution. The related expenses can only be included if the fees are required to be paid to the school when you enroll. Course books, school supplies, equipment and fees for student activities may be deductible dependent upon the above condition. You cannot claim expenses that were used for “insurance, medical expenses, room and board, transportation, or personal, living, or family expenses.” If you have paid your tuition with a loan, you still may qualify for the credit. There is no limit on the number of years you can claim the Lifetime Learning Credit for an eligible student. [2]

2. American Opportunity Credit
The American Opportunity Credit is available for 2012. It is a refundable credit for up to 40% of $2500 per student paid in tuition and other fees. This means that with this credit, you can receive a refund even if you do not owe taxes. The maximum refundable credit that you can receive for the American Opportunity Credit is $1000. This credit can be used to claim expenses for your first four years of post-secondary education at an eligible institution. The difference between this credit and the Lifetime Learning Credit is that educational expenses do not necessarily have to be paid to your school. Expenses include tuition, books, supplies and equipment, such as a computer (if required for attendance at your school). The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing jointly. The credit is phased out for taxpayers with income above these levels. [3]

As you research which credit would be best for you to claim, be aware that you can claim only one type of education credit per student in the same tax year. However, if you pay college expenses for more than one student in the same year, you can choose to take credits on a per student, per-year basis. For example, you can claim the American Opportunity Credit for one student and the Lifetime Learning Credit for the other student.

3. Student Loan Interest Deduction
The Student Loan Interest Deduction is a deduction that can reduce your taxable income by up to $2,500. It can be taken by individuals whose Modified Adjusted Gross Income (MAGI) is less than $75,000 if you are single or $150,000 if filing a joint return. Qualified expenses for this deduction include tuition, qualified housing fees, course books, school supplies, equipment and transportation. The deduction can be taken by undergraduate and graduate students. [4]

4. Tuition and Fees Deduction
The Tuition and Fees Deduction can reduce your taxable income by $4000. For this deduction your MAGI must be less than $80,000 if you are single. For this deduction, you can deduct qualified tuition and related expenses if the expenses are paid to the school as a requirement for enrollment. For example, qualified expenses could include books, school supplies, equipment and activity fees. If you purchase your course books from the college bookstore, but they were not required for your initial enrollment in the school, the books are not a qualified expense. [5]

5. Business Deduction for Work-Related Education
The Business Deduction for Work-Related Expenses is available to individuals who are working and need to take additional education courses for their current job. There are several qualifications that you must meet to take this deduction. Some of the qualifications include the need to be working currently and itemize your deductions on Schedule A. Qualified expenses include “tuition, books, supplies, lab fees, and similar items, certain transportation and travel costs, other education expenses, such as costs of research and typing when writing a paper as part of an educational program.” [6]

There are many opportunities to save money in college through tax savings. Consult with a qualified professional to determine what option would be best for you.

Sources:
[1] Table 283. US Census Bureau Statistical Abstract: 2011. Pg 182. http://www.census.gov/compendia/statab/2011/tables/11s0283.pdf
[2]Lifetime Learning Credit. http://www.irs.gov/publications/p970/ch03.html
[3]American Opportunity Credit. http://www.irs.gov/uac/American-Opportunity-Tax-Credit
[4]Student Loan Interest Deduction. http://www.irs.gov/publications/p970/ch04.html
[5]Tuition and Fees Deduction. http://www.irs.gov/publications/p970/ch06.html#en_US_2010_publink1000178321
[6]Business Deduction for Work-Related Education. http://www.irs.gov/publications/p970/ch12.html
[7]Tax Benefits for Education: Information Center. http://www.irs.gov/uac/Tax-Benefits-for-Education:-Information-Center

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Alan L. Olsen is Managing Partner at Greenstein, Rogoff, Olsen & Co., LLP, a leading CPA firm in the San Francisco Bay Area. With more than 25 years of experience in public accounting, Alan works with some of the most successful venture capitalists in the world, developing innovative financial strategies for individuals and businesses.

On June 28, 2012, the U.S. Supreme Court upheld the Patient Protection and Affordable Care Act (PPACA) – also referred to informally as “Obamacare” — as a tax. What is the impact of this ruling on current tax law, and how will it affect your family or small business?

The PPACA contains 20 new taxes or increases to existing taxes. Combined, these taxes are estimated to collect an additional US$500 billion in tax revenue, and represent one of the largest tax increases in our nation’s history.

Why haven’t we noticed this huge tax increase? Tax increases under the PPACA are being implemented over several years, from 2010 to 2018. Following is a summary of the tax changes.

Taxes that went into effect in 2010:

• Excise Tax on Charitable Hospitals: This is a $50,000 excise tax that charitable hospitals must pay unless they meet new standards in assessing community health needs and financial assistance requirements, as set by the U.S. Department of Health and Human Services (HHS).

• Codification of the “Economic Substance Doctrine”: A $4.5 billion tax increase, this provision allows the Internal Revenue Service (IRS) to disallow completely legal tax deductions and other legal tax-minimizing plans if the agency deems the action lacks substance and is merely intended to reduce taxes owed.

• “Black Liquor” Tax: This is a tax on a type of biofuel, and represents an increase of $23.6 billion.

• Tax on Innovator Drug Companies: This is a $2.3 billion annual tax on the pharmaceutical industry, imposed relative to share of sales made that year. It is a tax increase of $22.2 billion.

• Blue Cross/Blue Shield Tax Hike: The tax deduction available to Blue Cross/Blue Shield companies will be allowed only if at least 85 percent of premium revenues are spent on clinical services. This equates to a $400 million tax increase.

• Tax on Indoor Tanning Services: This is a new excise tax of 10 percent on the use of indoor tanning salons – a $2.7 billion tax increase.

Taxes that went into effect in 2011:

• Medicine Cabinet Tax: With the implementation of this tax, which translates to a tax change of $5 billion, money from Health Savings Accounts (HSA), Flexible Spending Accounts (FSA) and Health Reimbursement Arrangements (HRA) can no longer be used to purchase nonprescription, over-the-counter drugs.

• HSA Withdrawal Tax. This is a tax increase on non-medical early withdrawals from an HSA (from 10 percent to 20 percent), and represents a $1.4 billion tax change.

Mandate that went into effect in 2012:
• Employer Reporting of Insurance on a W-2: Employers must now report to employees (and to the IRS) the cost of their employer-sponsored group health plan coverage. This is likely to open the door for an IRS audit.

Taxes that will go into effect in 2013:

• Investment Income Surtax: This is a new 3.8 percent surtax on investment income for households making at least $250,000 (or $200,000 single); this will be a $123 billion tax increase.

• Medicare Payroll Tax Increase: Income in excess of $200,000 (or $250,000 married) will be taxed at an increase of 0.9 percent – an $86.8 billion tax change.

• Tax on Medical Device Manufacturers: This measure adds a 2.3 percent excise tax on manufacturers of medical devices, and will equate to a $20 billion tax increase.

• Limit Raised on Medical Tax Deductions: Currently, people facing high medical expenses are allowed a tax break on the amount over 7.5 percent of their adjusted gross income when they itemize deductions. This tax – which will represent a $15.2 billion tax increase – will raise the threshold to 10 percent.

• Flexible Spending Account Cap: This imposes a cap of $2,500 on the currently unlimited FSA deduction. The effects of the cap are likely to be a hardship on families who use FSA accounts to pay for the tuition of their children with special needs. Under current tax law, FSA accounts can be used to pay for special needs education, which can cost in excess of $12,000 per year. Overall, the Flexible Spending Account Cap translates to a tax change of $13 billion.

• Medicare Prescription Drugs: Tax deductions available to employers that provided retirement prescription drug coverage in coordination with Medicare Part D will be eliminated; this will represent a $4.5 billion tax increase.

• Limit on Executive Compensation for Health Insurance: A $600 million tax increase, this measure imposes a $500,000 annual limit for Executive Health Insurance Compensation.

Taxes that will go into effect in 2014:

• Health Insurance Excise Tax: This is an excise tax on individuals who do not purchase “qualifying” health insurance. Exemptions for undocumented immigrants, religious objectors, prisoners, individuals earning below the poverty line, members of Indian tribes and hardship cases will be determined by the HHS.

• Employer Mandate Tax: Companies with more than 50 employees that do not offer health coverage, and that have at least one employee who qualifies for a health tax credit, will have to pay a non-deductible $2,000 tax per full-time employee.

• Tax on Health Insurers: This is an annual health insurance tax (HIT) imposed on the fully-insured industry. The stipulation gradually phases in until 2018. Firms that receive $50 million in profit have the tax fully imposed upon them; this is a $60.1 billion tax increase.

Tax that will go into effect in 2018:

• Excise Tax on Comprehensive Health Insurance Plan: A tax increase of $32 billion, this is a 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). Early retirees and high-risk professions are allowed a high threshold of $11,500 single/$29,450 family.
_____________________________________________________________________
Alan L. Olsen is Managing Partner at Greenstein, Rogoff, Olsen & Co., LLP, a leading CPA firm in the San Francisco Bay Area. With more than 25 years of experience in public accounting, Alan works with some of the most successful venture capitalists in the world, developing innovative financial strategies for individuals and businesses. Olsen is also host of KDOW 1220AM’s radio show Alan Olsen’s American Dreams.

While many Americans are choosing pets over children, they fail to see the benefits in having posterity. A child is someone who can care for you when you are older, someone to pass on your family name to, someone to make you laugh and someone to give you a few extra tax benefits. As families with children see their expenses spread thin, they can feel reassured that there are most likely tax credits heading their way.

If you have children, review the following tax credits to see if you will qualify for them on your tax return:

1. Child Tax Credit
The child tax credit can be taken by parents who have a child under the age of 17. The child must have lived with the parents for more than half of the year and must have an eligible relationship with their care-taker. They must also be a US citizen or resident. Also, the child must not have provided for more than half of their support during the given year. The child tax credit is worth up to $1000 per qualifying child. There are phase out limits for the credit. If you are married and filing jointly, the phase out for adjusted gross income is $110,000. For all other taxpayers, the phase out is $75,000[1].

2. Adoption Credit
If your family has recently had an addition through adoption, you may be eligible for this credit. The adoption credit is a refundable credit for expenses that were used in adopting a child. According to the IRS website, qualified expenses for the credit include:

-Adoption fees
-Court costs
-Attorney fees
-Traveling expenses (meals and lodging included)
-Other expenses related to the legal adoption of an eligible child

In order to claim the credit, you must attach Form 8839 to your tax return with appropriate adoption paperwork (you can find what appropriate documentation is in Form 8839 instructions line 1)[2]. There are certain income and filing status requirements to qualify for this refundable credit.

3. Child and Dependent Care Credit
Do you hire care for a dependent age 12 or younger or a child or spouse with disabilities while you work or look for work? If yes, then you may be eligible for the Child and Dependent Care Credit. There are some requirements that you must meet to qualify for the credit. The individual that you hire to care for your child cannot be your spouse. Your dependent must have lived with you for over half of the year to qualify. Expenses from hiring a cook, nanny or housekeeper also qualify if the services benefit the qualifying child or spouse. The maximum amount for the credit is 35% of qualifying expenses [3]. Qualification for the credit is dependent upon your adjusted gross income. For more information on qualifying expenses see IRS Form 2441.

4. American Opportunity Credit
If you have children in college, you may qualify for this credit. The American Opportunity Credit is a refundable credit that can be applied for expenses incurred from tuition, books, school supplies, equipment (such as a laptop), etc. for the first four years of post-secondary education. This credit can be refundable for up to 40% of $2500 paid in tuition and other fees. The maximum refundable credit that you can receive for this is $1000.

5. Lifetime Learning Credit
The Lifetime Learning Credit is a credit that you can be eligible for if you have a dependent on your tax return that is in a post-secondary education program. If you claim your child as a dependent on your tax return, any fees that have been paid for tuition are treated as if the parent had paid them. Additionally, a child cannot claim the credit if they are a dependent on your tax return. This credit is equal to 20% of out of pocket expenses for qualified tuition and related expenses up to a maximum of $10,000. The maximum amount that you can claim for this credit is $2000.

6. Earned Income Tax Credit
If you have a home that brings in a low to moderate income, you may qualify for this credit. You must have earned income during the year to receive the credit.

According to the IRS website, for the 2011 tax year, you can receive the following maximum credit amounts:

• $5,751 with three or more qualifying children
• $5,112 with two qualifying children
• $3,094 with one qualifying child
• $464 with no qualifying children

There are several qualifications that you must meet to receive the credit including limits on your adjusted gross income (AGI). For example, a couple with three or more qualifying children can only receive the credit if they file jointly and have an AGI of less than $49,078. To see if you meet qualifications see http://www.irs.gov/individuals/article/0,,id=233839,00.html

There are many opportunities for tax credits that you can qualify for if you have children. You should seek help from a tax professional to determine if you are eligible for the above tax credits. To learn more about these credits, please visit www.irs.gov.

[1] http://www.irs.gov/newsroom/article/0,,id=106182,00.html
[2] http://www.irs.gov/taxtopics/tc607.html
[3] http://www.irs.gov/newsroom/article/0,,id=106189,00.html
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Alan L. Olsen is Managing Partner at Greenstein, Rogoff, Olsen & Co., LLP, a leading CPA firm in the San Francisco Bay Area. With more than 25 years of experience in public accounting, Alan works with some of the most successful venture capitalists in the world, developing innovative financial strategies for individuals and businesses. Olsen is also host of KDOW 1220AM’s radio show Alan Olsen’s American Dreams.