Summer! A time for carefree days, barbecues, and…tax benefits? For many business owners, summer can be a double-edged sword. The freedom from school and university schedules offers flexibility for families. But finding activities at the right price point that keep young people engaged can be challenging. While summer jobs used to be the norm, it’s...
Category: Taxes
Upcoming Due Date: Estimated Taxes are Due June 15th
Want to avoid tax season surprises? Master your estimated taxes! The next estimated tax deadline is fast approaching on June 15th, so let’s make sure you have all the basics covered so you’re on top of your taxes. What are Estimated Taxes? Estimated taxes are quarterly payments made to the IRS throughout the year on...
Tax Credits for Energy-Efficient Home Improvements
Feeling the pinch of energy bills? You’re not alone. Around the world, people are seeking solutions to combat rising energy costs. One popular strategy is investing in energy-efficient home improvements. While these upgrades can lead to big savings, they can also make your home more comfortable. Not to mention the environmental benefits we’ll all enjoy...
Latest IRS Updates: Here’s What You Need to Know
Knowing that the Internal Revenue Service is constantly adapting to the changing landscape of tax regulations, we hope to best serve you, the taxpayer, by providing a comprehensive update covering the latest IRS updates and changes. Continue reading to learn if any of them apply to you! Latest Updates: IRS Ends Unannounced Revenue Office Visits...
How to Evaluate Tax Planning Services
In the world of personal and business finance, few things are as critical to the financial equation as tax planning services. Whether you are an individual looking to optimize your tax liability or a business working to navigate the complexities of tax regulations, the right tax planning strategy can make a world of difference for...
Understanding Famli Tax in Colorado
The FAMLI Tax in Colorado is paving the way for a new generation of success. It’s crucial to have a job that enables individuals to prioritize their well-being and their loved ones. A job that allows individuals to strike a healthy work-life balance ensures that they can devote ample attention to their personal needs and...
How to Implement Strong Tax Strategies for Business Owners
As a business owner, one of your responsibilities is to manage your tax obligations but implementing tax strategies for business owners can be overwhelming. However, with the help of tax planning, you can implement strong tax strategies. Implementing Tax Strategies for Business Owners Requires a Tax Plan Tax planning is a crucial aspect of managing...
R&D Tax Credit 2022: What You Need to Know Before Filing
As a business owner, you know how important it is to keep your expenses as low as possible while maximizing profits. One way to do this is by leveraging tax credits. The Research and Development (R&D) Tax Credit is a federal incentive that allows businesses to receive a tax credit for certain expenses related to...
Aligning Your Annual Plan with Your Business Tax Strategy
Aligning your annual plan with your business tax strategy is a great way to ensure your business is achieving its short-term and long-term goals. Your business tax strategy should be an important part of the overall business plan. It will help you: Maximize profits Minimize taxes Make more informed financial decisions Ensure the IRS is...
2022 Changes for Unemployment Insurance Rates and Deposit Schedules
Be on the lookout for notices from tax agencies with changes to unemployment insurance rates and deposit schedules coming in 2022. Of note is Colorado’s increase to the taxable wage base from the current $13,600 to $17,000 in 2022. Passed in July 2020, SB20-207 raises the wage base by $3,400 each year beginning in 2022...