For many nonprofits, budgeting season can feel overwhelming. Especially for organizations operating on a fiscal-year schedule, this time of year often becomes a race to plug numbers into spreadsheets and finalize next year’s expenses and that’s why we’re here to share tactics to help your budgeting season for Colorado Nonprofits. But strong nonprofit budgets are...
If you’re reading this in March or April, there’s probably a reason. This is the time of year when small business owners start to feel the cracks with their current tax preparer. Emails are going unanswered. Questions feel brushed off. You might be getting your documents together and realizing you don’t actually understand what your...
Big Hearts, Clear Missions Running a nonprofit in Colorado usually starts with a big heart and a clear mission. It does not usually start with dreams of spreadsheets, compliance rules, or reconciling donation reports at 9 p.m. after an event. And yet, that is often where we find ourselves. At Momentum Tax, we work closely...
The holidays are officially behind us, the decorations are coming down, and we’re all easing back into normal life. But while you’re settling into the new year, there’s something else settling in too… Tax season. 👀 If you’re a small business owner, early January can feel like stepping onto a treadmill that started going before...
You’ve got a business to run, employees to pay, and approximately 47 tabs open in your brain. The last thing you want is a choose-your-own-adventure on your personal tax return. But here we are: itemize or take the standard deduction? Let’s make this...
Many of our clients are hardworking individuals, growing families, and small business owners who are doing their best to stay informed and make wise financial decisions. Over the past few weeks, several of our clients have reached out with great questions regarding the recent federal tax changes included in what’s being called One Big Beautiful...
Let’s call it like it is—most people think about taxes once a year… when it’s already too late to change the outcome. But the real money-movers? The smart ones? They know the secret sauce is in the mid-year review. Right now—smack in the middle of the calendar year—is your golden window to take control of...
As 2024 comes to a close, it’s the perfect time for business owners to engage in year-end tax planning. Proper planning not only ensures compliance but also allows you to maximize deductions and credits, ultimately saving your business money. With the tax landscape constantly changing, now is the time to strategize and take advantage of...
Hiring a nanny or other household help can be a lifesaver for busy families. They provide invaluable support, caring for your children and allowing you to focus on other priorities. However, before welcoming a nanny into your home, it’s crucial to understand the legalities involved, specifically the “nanny tax.” What is the Nanny Tax? The...
Does your personal tax season unfold the same way every year? April 15th approaches, and suddenly, there’s a scramble to gather receipts, fill out forms, and hit submit, hoping for a nice chunk of change from Uncle Sam. But what if you need cash now, instead of a lump sum later? But what if there...