Posted on Feb 02, 2010 in Uncategorized No Comments »
Although technology has created an increasingly paperless environment, an audit, whether initiated by the Internal Revenue Service, state, or local governmental agency, still requires a clear paper trail. For a typical IRS examination, 14 monthly bank statements must be furnished (January through December of the audited year, December of the prior year and January of [...]
Posted on Jan 30, 2010 in Uncategorized No Comments »
Your Annual Report filed with the Colorado Secretary of State is relatively straightforward. Since it does not involve any financial figures, my clients (or their attorneys) typically go online, change any appropriate information (address of the business or name & address of registered agent) and pay the $10 filing fee. (Between us, the credit card [...]
Posted on Jan 29, 2010 in Uncategorized No Comments »
Question: What are the rules for sole-employee businesses concerning payroll taxes? Answer: Single-owner sole-employee business ventures can file and remit payroll taxes on an annual basis without penalty. While a bit unconventional, remitting appropriate payroll and withholding taxes once a year in late December and early January is often a smart business decision. I generally [...]
Posted on Jan 26, 2010 in Uncategorized No Comments »
Local tax increase initiatives may be on the November 2, 2010 election ballot Local municipality and county governments may place sales and property tax increase initiatives on the upcoming fall election ballot….due in large part to lagging tax revenues arising from an economy in recession and subsequent anemic growth. While demographics and new purchasing attitudes have [...]
Posted on Jan 17, 2010 in Uncategorized No Comments »
Too often, I’ll notice that business owners fail to perform a simple annual requirement to keep their Limited Liability Company or Profit Corporation in good standing with the Colorado Secretary of State. And honestly, it’s pretty easy to overlook. Every year at your venture’s organization or incorporation date, registered agents (generally the business owner) should [...]
Posted on Jan 12, 2010 in Uncategorized No Comments »
I get the question several times a year and often between Thanksgiving and New Year – do you have any tax suggestions for my business? If the owner has created a Limited Liability Company or Profit Corporation with the Secretary of State, I can generally suggest meaningful options in regards to self-employment tax savings, retirement [...]
Posted on Jan 10, 2010 in Uncategorized No Comments »
While start-ups face many impediments, I’ve concluded that just a couple missteps can cause the greatest harm: Lack of personal funds to meet personal expenditure commitments Shotgun marketing efforts Giving up on the venture too early For the most part, the first and last bullet items above are linked as “cause and effect”. If the [...]
Posted on Jan 09, 2010 in Uncategorized No Comments »
That’s why my CPA firm is truly the Entrepreneur’s Best Friend. And it sets us apart from other accounting firms. My primary goal is to assist micro-business owners in their tax preparations, often on initial filings, such as sales tax and payroll tax returns. By taking this approach, clients are also effectively trained in self-preparation [...]
Posted on Jan 06, 2010 in Uncategorized No Comments »
I’m cleaning my attic and have two questions: Both my parents passed away during the 1990s. How long do I need to keep the final estate documents? I’ve owned three homes during the past three decades. How long do I need to hold on to the house closing documents? While certain circumstances may warrant a [...]
Posted on Jan 03, 2010 in Financial Statements & Taxes,Uncategorized No Comments »
Amazingly, Colorado has no law that states what constitutes a common law marriage. In practice however, a couple can file a joint return as Colorado residents as long as they meet these five widely-held tests: 1) they are not already married to someone else, 2) they present themselves as being husband and wife, 3) they [...]
Geoff Goudy: The Certified Public Accountant Colorado Businesses Trust.
Serving Northern Colorado including Fort Collins, Greeley, Loveland, and Wellington.
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