ALAN OLSEN FEATURED IN CHANNEL 5 "Consumer Watch" SEGMENT
"There's no such thing as a free lunch."
 FREMONT, California, March 7, 2007 – In case you were too busy processing tax returns to watch TV, our Managing Partner was featured in a ConsumerWatch news segment on CBS Channel 5 recently. A local bank had a promotion to give a free digital camera to customers opening up new checking accounts. But a customer complained to Channel 5 when she received a 1099 showing $67.95 in income. Alan was contacted by the reporter and confirmed that the bank was correct in supplying the 1099 but that they should have done a better job of informing the customer that the gift was taxable. He provided some good advice for consumers that they should always ask the question, “When a gift is given, is it taxable to them as income?” Or as the customer said, “There’s no such thing as a free lunch.”
Click here to see the segment online:
http://cbs5.com/consumer/local_story_065203409.html
About Alan L. Olsen, CPA
As the Managing Partner at Greenstein, Rogoff, Olsen & Co., Alan Olsen focuses
on developing innovative strategies for business enterprises and individuals. A
specialist in income tax planning, he frequently lectures and writes articles on
tax issues for professional organizations and community groups. Alan has over 22
years of experience in advanced tax planning including international tax, company
reorganizations, multi-state taxation, financial statement preparation, stock options,
estates and trusts, and representation before tax authorities.
GROCO: Trusted Advisors to the Highly Successful - Since 1964.
FOR IMMEDIATE RELEASE
Media Contact:
Dennis Wolfe
P: 510.797.8661
F: 510.797.1791
dwolfe@groco.com
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