4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686
Reason #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 […]
View Post 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 […]
View Post 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 […]
View Post 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 […]
View Post 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 […]
View Post 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 […]
View Post Health Care ReformI know one of the things that puzzles me most about the new health care reform legislation is the penalty to those who do not carry health care. It seems cruel to penalize people who cannot afford healthcare. Isn’t it penalty enough not to have health coverage for your loved ones? So I looked up […]
View Post Health Care ReformAccording to IRS Tax Tip 2010-68 people who owe taxes but can’t pay the full amount owed by the April deadline should still file their return on time and pay as much as they can to avoid penalties and interest. If you can’t pay the full amount, you should contact the IRS to ask about […]
View Post Can't pay your income tax on timeThe 2010 Healthcare Act has generated a lot of questions. Over the course of the next few weeks I thought I would share with you some of the questions that I have been asked and the answers I have found. This week I was asked the definition of “unearned income” and how it applies to […]
View Post Healthcare ActWhat exactly is Tax freedom Day? It is the first day of the year in which the nation as a whole has theoretically earned enough income to fund its annual tax burden. Tax Freedom Day answers the basic question, “What price is the nation paying for government?” An official government figure for total tax collections […]
View Post Tax Freedom Day