4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686
I was giving a presentation on Healthcare Reform last week and discovered that it was helpful to put the reform into a timeline. The following timeline is not all inclusive but it does put the points that I have talked about in earlier blogs into a timeline. In 2010 that’s this year folks! 1. When […]
Healthcare ReformA partnership automatically comes into existence whenever two or more people enter into business together to earn a profit and don’t incorporate or form a limited liability company. You can elect to be excluded from the partnership provision if you are in a business arrangement that is for investment purposes only and not for the […]
Husband wife business owner, Partnership, Spousal joint ventureIRS agents are now asking for a copy of the taxpayer’s QuickBooks data base. The IRS has purchased 1,500 to 2,000 licenses from Intuit and will begin training agents to use QuickBooks in their examinations of taxpayers. It will be done only on those examinations that the agent deems necessary and if the taxpayer refuses […]
IRS agents using QuickBooks, QuickBooksBP is required to set aside $20 billion in funds to compensate victims of the Gulf of Mexico oil spill. Individuals and businesses affected by the spill can file a claim for compensation for lost wages or profits. So the question is will the victims have to pay income tax? The answer is sometimes. Let’s […]
Oil Spill VictimsReason #1 is a BIG reason not to want it to pass. The American Jobs & Tax Loopholes Act has a provision for S Corp owners who provide professional service to have to pay self employed income tax on their dividends. One of the perks to choosing S Corp as your business entity is that […]
American Jobs & Tax Loopholes ActRecently I was asked about investing in rental real estate with 401(k) funds and my response was why? The answer to their question was, yes you can invest your 401(k) funds into rental real estate but I am not so sure it is a good idea. Don’t get me wrong I think investing in rental […]
401(k), Rental Real EstateRecently I have been helping a couple of clients look at their retirement years. One of the most common issues that comes up is the tax implications of selling stock. Currently it is a pretty sweet deal at only 15% for capital gains tax the issue is that no body seems to know what they […]
Cost BasisThe Military Spouses Residency Relief Act allows a service member’s spouse to retain his/her state of residency for income tax purposes. In 2003 the service member’s civil Relief Act provided that the service member could retain their state of residency for income tax purposes but it wasn’t until 2009 that the Act was amended and […]
Military SpouseIn these tough economic times teenagers have a tough time finding summer employment. If you employ them in the family business, you could receive an unexpected perk! Did you know that employment for FICA tax purposes doesn’t include services performed by a child under the age of 18 while employed by a parent? Let’s say […]
Kids in the Family BusinessI was reading an article on the timeline for Heath Care Reform changes and I was struck by how a few of the new changes are just down right odd. • Take the 10% tax on amounts paid for indoor tanning services. Usually products have a sales tax but in this case tanning services provided […]
Health Care Reform