Blog Archives

Colorado Withholding Certificate DR 0004

Form DR 0004 is the new Colorado withholding certificate that is optional for employees to complete starting in 2022. It is not meant to replace form W-4 for Colorado withholding, but is meant to help employees in a few specific

Posted in Colorado, Tips

Employee Retention Credit Q3 and Q4 2021

In spite of proposed legislation to remove the Q4 Employee Retention Credit, the IRS issued Notice 2021-49 providing guidance on claiming the ERC in Q3 and Q4 of 2021. The Employee Retention Credit follows essentially the same rules in Q3

Posted in Uncategorized

Child and Other Dependent Tax Credits

If you have a child or someone you support almost entirely, there’s a good chance you’re eligible for one of these tax breaks. The Child Tax Credit is a tax break that can benefit people with children under the age

Posted in Taxes, Tips

Investor Agreements

Investor agreements generally cover any transaction that gives other people or businesses ownership interest in the company.  This could be of interest now or into the future and could be in exchange for anything of value such as cash, labor,

Posted in Tips

Looking For an Investor?

Every deal is different, but here are some basics. There are three main ways investors can provide funding to your small business: equity investment, debt investment, or convertible debt. With equity investment, an investor will buy an ownership stake in

Posted in Tips

IRS offers further guidance on ERC, and Congress may end it

The Internal Revenue Service and the Treasury Department released guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and Congress considered a proposal to end the tax break next month. The employee retention

Posted in IRS

Gross Receipt Exclusions for ERC

A taxpayer is permitted to exclude certain items from “gross receipts” for determining eligibility to claim the ERC under the CARES Act and other recent relief legislation including:  amount of the forgiveness of a PPP loan grant from the Economic

Posted in Tips

Colorado Workers’ Compensation Insurance

All businesses with employees operating in Colorado are required to have workers’ compensation insurance, regardless of the number of employees, whether the employees only work part-time, or if they are members of the same family. All workers’ compensation insurance in

Posted in Colorado, Tips

SBA Defers EIDL Payments Until 2022

Small businesses that received a COVID-19 Economic Injury Disaster Loan (EIDL) won’t have to start making payments on the loan until 2022. The SBA announced extended deferment periods for all of its disaster loans, including the COVID-19 EIDL loans. The

Posted in Uncategorized

Restaurant Revitalization Fund Closed

The U.S. Small Business Administration (SBA) announced the closure of the Restaurant Revitalization Fund (RRF) after awarding the program to more than 100,000 restaurants, bars, and other businesses that provide on-site food and drink. Demand for the funds far outstripped

Posted in Uncategorized