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4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686

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Santa as a Business Owner

Posted on December 19, 2012 by Leasa Magnuson in Business Tax

Have you ever stopped to think of Santa as a business owner?  In the spirit of the season here are my thoughts: 1)      The North Pole workshop is a separate entity from the business of delivering toys and is in its own LLC.  This entity receives rent income from the housing of the toy manufacturing […]

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Santa's Business

Employee Bonuses

Posted on December 12, 2012 by Leasa Magnuson in Business Tax

A couple of weeks ago I wrote about employers providing gifts to employees.  You can read about it here   http://www.nococpas.com/blog/my-boss-gave-me-a-turkey-whats-up-with-that but the important thing to remember is you cannot “give” your employee $500.    You can only give them $25 in cash which would make you look like a real cheapskate.  In order to give […]

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Employee Bonuses

Powerball Winnings and Taxes

Posted on December 5, 2012 by Leasa Magnuson in Individual Tax

When the Powerball winnings got up to $580 million last week it made many of us including me think about what we would do if we won. The first thing I wondered was just how much goes to the IRS and State of Colorado.  And the answer naturally was depends.  If I take the lump […]

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Powerball, Taxes on Lottery Winnings

My Boss Gave Me A Turkey, What’s Up With That?

Posted on November 21, 2012 by Leasa Magnuson in Business Tax, Individual Tax

It is that time of year when employers want to provide gifts to their employee’s.  It is important to note what the IRS says about employee gifts and in my opinion it isn’t very pretty or realistic. The IRS says that if, as a means of promoting goodwill, an employer makes a general distribution of […]

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Employee Gifts

Beware of Corporate Annual Minute Scam

Posted on November 14, 2012 by Leasa Magnuson in Business Tax

Recently a client brought in a very official looking document from Compliance Services.  It was requesting that they send in the corporate officer names, corporate director names and shareholder names.  It has a reply by date and a request for $125.  Most disturbing of all was it cited Colorado Revised Statues making you think you […]

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Reasons I’m Thankful for Taxes

Posted on November 7, 2012 by Leasa Magnuson in Individual Tax

My thoughts on being thankful all started when I realized that on November 6th the political ads would stop and I could go back to liking my friends because I no longer would be reminded how they were going to vote everyday on FaceBook.  And then it turned to why are we so hot and […]

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Income Tax, Thankful for taxes

Cyber Security and Your Tax Information

Posted on October 24, 2012 by Leasa Magnuson in Business Tax, Individual Tax

I thought now might be a good time to remind everybody to not send sensitive information through emails.   When I am preparing tax returns I will start a list of missing items in the form of an email.  It is how I keep track of what I am missing.  Then I email the list of […]

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Secure File, Sharefile

Tax Provisions that expire for 2013

Posted on October 3, 2012 by Leasa Magnuson in Business Tax, Individual Tax

Last week I showed you which provisions were no longer available in 2012 and now I want to show you what is set to disappear in 2013. The 10% bracket disappears (the lowest bracket is 15%) The top four brackets rise from 25%, 28%, 33% and 35% to 28%, 31%, 36% and 39.6%.  Long-term capital […]

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2012 Expiring Tax Provisions

Tax Provisions that Expired for 2012

Posted on September 26, 2012 by Leasa Magnuson in Business Tax, Individual Tax

Let’s face it Congress hasn’t agreed on anything for the last couple of years and this is an election year so I wouldn’t look for any decision to be made on the expiring tax provisions in 2012 until the 11th hour sometime in late December.  Making it yet another difficult year for tax planning.  I […]

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Expired Tax Provisions

We Are Moving!

Posted on September 5, 2012 by Leasa Magnuson in Business Tax, Individual Tax

NoCo CPAs will not be at the John F. Kennedy address as of September 18th, 2012. Our new address is 736 Whaler’s Way. We are in Building G, suite 202. From our old office you will take a left on Boardwalk and turn left into the Boardwalk Office Park condo’s across the street from the […]

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NoCo CPas new address
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    March 8, 2013

Testimonials

Leasa Magnuson was there when we needed her.

An unexpected audit on our returns was triggered by an unfortunate investment loss. All of the horror stories we had heard about came to the top of our minds and the adrenaline started pumping. We had never been through an IRS audit and didn’t know what to expect. We gathered all of the information requested. Leasa reviewed what we had, suggested a few more items and then we dropped off the requested supporting documents to the IRS several days prior to the audit. Promptly at 9:00 a.m. on audit day Leasa was there to support me and answer the grueling questions I was sure would come from the investigator.

Before we had a chance to take the hot seats in the investigator’s office, we were told that they had reviewed our documentation and we were given a "no change" verdict – which means everything checked out. We were free to leave.

I am confident Leasa’s council, review, and organization of our documentation and giving the IRS advanced time to review the information led to the positive outcome.

We are very lucky to have her on our team and will continue to use Leasa in the future.

Anita & Mike Kelly

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4025 Automation Way #D1 (Map), Fort Collins, CO 80525 - Phone: 970-226-4686