4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686
I have long been annoyed with the IRS for using my tax dollars to mail those tax packages in January. Sure it is nice to get all the forms and instructions to file my Form 1040 but who fills out the forms by hand anymore? If you do them yourself you use Turbo Tax and […]
Tax PackageThere is an email making the rounds that says that the sale of your personal residence will be subject to the 3.8% surtax. It states that on a home sale of $200,000 the tax will be $7,600! Can this be true? Well let’s tear it apart. The 3.8% surtax will apply to unearned income. A […]
3.8% Surtax, Personal ResidenceRemember when the homebuyer credit first came out? We thought it was a pretty cool offer. First time homebuyers were offered a credit of $7,500 on their 2008 tax return if they purchased their home after April 8th 2008 and before July 1st 2009. An offer the IRS had never previously made. There was quite […]
First time homebuyer credit#12 Your CPA gives you journal entries that mess up your AR/AP aging ledgers and then refuses to help figure out how to fix it. #11 Your CPA isn’t flexible with what works for you for management purposes. #10 Your CPA requires you to only use their preferred software. #9 The Balance Sheet on your […]
CPAIn the accounting world there are a lot of titles floating around that seem like they mean the same thing. While there are many similarities the titles actually indicate different levels of understanding of the accounting world. Let’s start with the word bookkeeper. In general a bookkeeping does the tedious job of data entry. They […]
Bookkeeper, CPA, Enrolled AgentIf you use the paper 8109B coupons to pay your FICA withholding income taxes or your corporate income and estimated taxes be forewarned. The IRS has issued proposed regs to eliminate the use of the paper coupons and force the use of Electronic Federal Tax Payment System (EFTPS). EFTPS is a safe convenient way of […]
EFTPS, Form 8109B, Payroll Taxes1. The 2010 no income limitation in regard to a Roth IRA only applies to conversions. There are still income limitations to regular contributions. 2. The deadline for a 2010 Roth IRA conversion is 12/31/10 and you must elect to recognize the income in 2010 otherwise it will be split evenly & recognized in 2011 […]
Retirement, roth iraFor all of you that think you won’t owe taxes if you don’t file a tax return I have news for you. The IRS will file a return for you and chances are you will owe more when they file for you than if you just bite the bullet , gather up your information and […]
delinquent taxpayer, NonfilersRemember last week I talked about the new requirement for businesses to file a Form 1099 for services and products to non tax exempt entities including corporations? It is a highly unpopular segment of the Health Care Act that is currently seeing some action from Congress. Both the Democrats and Republicans agree that they would […]
1099 Misc, Health Care ReformMost of you know that you must file a Form 1099 to Partnerships and LLCs for services they provided to you of $600 or more. Starting in 2012 payments you make for services or products of $600 or more to any business including corporations will require a Form 1099 to be filed. So within your […]
1099 Misc, Health Care Reform