March 7, 2017
How much can you deduct for the gently used goods donated to charity?
How much can you deduct for the gently used goods donated to charity?...
News
February 9, 2017
Business Entity Selection and the Tax Consequences of Converting
Business Entity Selection and the Tax Consequences of Converting...
February 3, 2017
Should you keep a spreadsheet on the differences between the AAA & RE?
Should you keep a spreadsheet on the differences between the AAA & RE?...
January 27, 2017
IRS Form 1099-misc Due Date Approaching – Facts and Misconceptions
IRS Form 1099-misc Due Date Approaching - Facts and Misconceptions. As many of us who hang our own shingle are painfully aware, IRS Form 1099-misc is due January 31st! I'm still shaking off the holidays. The failure to timely file this 'informational return' has gone up...
January 17, 2017
Nonresident Partners and Shareholders of Colorado Partnerships and S Corps
The Colorado Department of Revenue revised its guidelines in FYI Income 54 regarding people who do not live in Colorado but are partners and/or shareholders of partnerships and/or S corporations in Colorado, ensuring that pass-through entities pay Colorado income tax on their Colorado-source income. This post breaks...
January 2, 2017
Excess Depreciation Claimed – Now What?
Excess Depreciation Claimed - Now What? Justin Fundalinski of Jim Saulnier & Associates, who I met while volunteering time for the betterment of the Financial Planning Association, asked me a procedural question about a fascinating situation he encountered regarding depreciation and disposition of residential rental real...
December 23, 2016
Colorado Year End Tax Update: Focus on USE TAX – 50 Points of Light
Colorado Year End Tax Update: Focus on USE TAX - 50 Points of Light It is that time of year again where we work ourselves into a tizzy finishing off the year "strong" and simultaneously enduring another holiday season whilst purportedly planning for a new year....
December 22, 2016
Colorado Income Tax Planning Update: Form 104
The following items might seem new and/or different for Colorado taxpayers on the CO 104 Income Tax form, some are some are not. These points below basically represent some of the more persistent questions coming across my desk as part of year end tax planning. ...
December 15, 2016
21st Century Cures Act Signed by President Obama
President Obama signed the 21st Century Cures Act into law creating an option for small businesses to offer employees a health reimbursement arrangement (HRA) that is funded by the employer. Beginning January 1, 2017, the maximum employees can receive per year through the HRA is...
December 13, 2016
Prepare for the Tax Pendulum to Swing
One thing to be be thankful for this holiday season is that the tax 'policies' of President Elect Trump (PET) and our Republican friends in the 115th congress will keep tax accounts and bookkeepers gainfully employed well into the foreseeable future. In fact I am adding staff again,...