4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686
I was recently asked how to know if estimated tax payments are necessary. Let’s start with a simple explanation of what estimated tax payments are. The IRS likes to receive money on a regular basis and therefore if you wait to pay them a large chunk until April, chances are you will owe them a […]
View Post Estimated Tax PaymentsMaybe it’s my quirky sense of humor but I find it funny that they IRS has posted an alert on its website telling taxpayers to please limit use of the “Where’s My Refund” Tool. First Tax season was delayed until January 30th so taxpayers had to wait longer to file their return and now taxpayers […]
View Post Where is my RefundIn 2013 there is a new .09% Medicare Tax. It affects individuals or self employed persons whose income exceeds $250,000 for MFJ ($125,000 MFS/$200,000 Single). Employers must withhold the additional tax from wages paid in excess of $200,000, without regard to the person’s filing status. Employers are not required to notify employees when […]
View Post Medicare Tax, New .09 Medicare Tax, Payroll TaxesI believe that the 2012 tax year will have more extensions than normal. First the IRS has delayed the start of the tax year until January 30th. Second W2s are late from Paychex and ADP because of the new rules regarding the reporting of health insurance. So even if I wanted to file individuals today […]
View Post 2012 Tax Year, ExtensionsThe following are what I like to think are the highlights in the American Taxpayer Relief Act of 2012. In no way are the all-inclusive, they are just the items that I think will be most useful for my clients. In the months leading up to the fiscal cliff if you asked me what I […]
View Post 2013 Taxes, AMT patch, Fiscal CliffWhen 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 […]
View Post Powerball, Taxes on Lottery WinningsIt 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 […]
View Post Employee GiftsMy 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 […]
View Post Income Tax, Thankful for taxesI 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 […]
View Post Secure File, SharefileLast 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 […]
View Post 2012 Expiring Tax Provisions