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I’m on my Own” is the New “I’m with Big Blue”. Where Are We Today?

Posted on Mar 07, 2010 in Uncategorized No Comments »

Thirty years ago, we were in an environment with historically high inflation, interest, and tax rates. (The top individual Federal tax bracket was 70%).  Today the opposite holds true. We have historically low inflation, interest, and tax rates (the top individual Federal tax bracket is 35%). Yes, both “supply-sider” and “Keynesian” economic theories have proved […]

Receipts Really Necessary?

Posted on Mar 07, 2010 in Uncategorized No Comments »

Question: If I don’t have receipts what is your recommendation on deducting or not? Answer: Fair and reasonable estimates based on actual events and transactions are permitted as long as a lack of receipts is not habitual. Please note that credit card and debit card transactions listed on monthly bank and credit card statements can […]

Which is better – Turbo Cash or QuickBooks?

Posted on Mar 01, 2010 in Uncategorized No Comments »

Question: Do you have knowledge of Turbo Cash as we are thinking of converting QuickBooks over to this software? Answer: I haven’t heard of this particular product. Five or ten years ago I often recommended to c order generic cialis uk lients a varied of accounting software product options. Today, Intuit’s QuickBooks is to small […]

1099 Tax Reporting – How Responsible AM I?

Posted on Feb 28, 2010 in Uncategorized No Comments »

Question January got the best of us and we’re now just in the process of finalizing and issuing our 1099s. At least we’re not late in filing with the IRS (due February 28th). In our efforts to collect names, addresses and social security numbers, one of our contractors said she wasn’t aware that she would […]

Colorado Dept of Revenue: On Line or Off?

Posted on Feb 25, 2010 in Uncategorized No Comments »

It has come to my attention that unfortunately the Colorado Dept of Revenue is still experiencing a number of glitches since they updated their computer system last October. Back in November a number of my clients received  a nonfiler notification letter regarding online wage withholding tax filing for Q3:  July–September 2009. I had hoped that the […]

Always Read the Instructions. Carefully!

Posted on Feb 21, 2010 in Uncategorized No Comments »

Question: How do I Best Report a Large Increase in Income FAQ? My income is going to increase dramatically this year. I think I’m going to do a 529 with some of my windfall.  At least that gets me out of the state tax.  Do text your ex back> you have any other advice? Answer:  […]

Waiting for a 1099 to come in

Posted on Feb 20, 2010 in Uncategorized No Comments »

Question: Any reason why I haven’t received my 1099 for my investment account? Answer: More and more companies are not mailing out tax forms and instead, account holders must go online to retrieve the appropriate tax information necessary to prepare a complete and accurate tax return. This is ostensibly an effort to be ‘green’ . […]

Two Companies – One New Hire

Posted on Feb 15, 2010 in Uncategorized No Comments »

Question: We want to hire one person to work full-time for our ancillary company that is set up as a separate limited liability company.  Do we run this payroll through our primary operating company or do we instead set up this person as an employee of our ancillary company? Answer: Of course “it depends”. If […]

Statutory Employee? What’s That?

Posted on Feb 09, 2010 in Uncategorized No Comments »

Question – An employee of ours wonders if he can be treated as a statutory employee.  What on earth is that? Answer: The term statutory employee includes the following: Life insurance agent Agent-driver or commission-driver Salesperson who solicits orders from other business establishments on behalf of a principal Home-based worker performing piece work on behalf […]

What paperwork needs to be done when closing a business?

Posted on Feb 05, 2010 in Uncategorized No Comments »

Question: I closed my business, what governmental agencies do I have to contact and inform them of my unfortunate business demise? Answer: My sympathy, first and foremost. Then the answer is it could be viagra online canadian pharmacy a few; it could be several. The most important and often overlooked is formally dissolving your legal […]

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