4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686
It is that time of year where people begin to wonder what they can do to reduce their taxes. Here are some ideas for your business: There is the ever popular purchasing of business property. Unless Congress changes the rules, 2011 is the last year where the expensing limit is at $500,000 and the investment […]
Year End Tax PlanningLast week I talked about getting twice the tax benefit by donating to a Colorado child care facility. This week I’m going to tell you how to increase the cash given to the facility without you having to increase the amount of the check you write! It’s easy. All you have to do is go […]
Charitable Donation, Colorado Gives DayWe all know that child care facilities that are non-profit provide taxpayers who donate to them a charitable deduction on their tax return. But did you know that Colorado also offers a credit to taxpayers who donate to child care facilities? Well it does! Colorado offers a Child Care Contribution Credit for 50% of the […]
Charitable Donation, Colorado Child Care CreditIn a prior blog I talked about Social Security tax for self employed individuals being reduced from the 12.4% to 10.4% in 2011. What I didn’t talk about was how that effects the 50% of self employed income tax deduction self employed individuals receive on their income tax returns. Let’s talk about that now. Self […]
Self Employed TaxThe Social Security Administration has announced that the wage base for computing Social Security tax in 2012 will increase from $106,800 to $110,100. The wage base has been at $110,800 since 2009. It is increasing about 3% due to an increase in average wages. What this means is an employee will pay 6.2% on their […]
Nanny Tax, Social Security Tax, Unemployment TaxLast year the IRS had this brilliant idea that all tax preparers need to register for a preparer tax identification number (PTIN). I already had a PTIN due to the fact I wasn’t too fond of signing each return with my Social Security number so the PTIN was not a big issue to me OTHER […]
PTINLast week I mentioned that the tax code needed to be simplified. This week I’d like to point out Republican presidential candidate Herman Cain has a simplified plan. It is referred to as the 999 tax reform plan. The plan calls for getting rid of the tax code as we know it and implementing 9% […]
Flat Tax, Simplified Tax CodeOn October 8th, ABC News did a report titled Steve Jobs: 7 Secrets to His Success. Number 3 was “Say No to 1,000 Things.” The report went on to say that “In 1997 when he (Steve) returned to Apple, Apple was close to bankruptcy. He took 300 products and condensed them to 10” The US […]
Simplify tax codeOn September 8, 2011 President Obama presented his proposals for boosting the economy. I confess I did not listen to his speech but have read bits and pieces of it and what jumps out at me is the reduction in payroll taxes. Earlier this year I blogged about employee’s having to pay 2% less in […]
Payroll Taxes, Social Security TaxThe following are tax tips recently published by the IRS. With the summer wedding season in full swing, the Internal Revenue Service advises the soon-to-be married and the just married to review their changing tax status. If you recently got married or are planning a wedding, the last thing on your mind is taxes. However, […]
Newlywed Tax Tips