Blog Archives

Auto Expenses

For taxes, you can either use the standard mileage deduction or the actual expenses, but not both methods.  The standard mileage deduction includes depreciation so you can’t claim depreciation as an additional deduction under this method, but you can claim

Posted in Deductions

Trade Names & DBAs

A trade name is a name, other than the true name, of an entity or individual under which the entity or individual is authorized to transact business or conduct activities.  Sometimes a trade name is referred to as a “doing

Posted in Colorado

2019 Standard Mileage

The Internal Revenue Service has issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.   Beginning on January 1, 2019, the standard mileage rates for

Posted in Deductions

2019 Colorado Minimum Wage

On January 1, 2019, the Colorado minimum wage increased to $11.10 per hour. For tipped employees, the minimum wage will be $8.08. These rates represent increases from the current levels of $10.20 and $7.18 respectively.   The new minimum wage

Posted in Colorado

2016 Tax Form Changes – Part 1

The IRS has released on its website a number of draft tax forms and instructions for the 2016 tax year. Here are some key changes made on the 2016 Form 1040 return: *Due date. Form 1040’s due date is April

Posted in IRS

Big Business

“If you can build a business up big enough, it’s respectable.” Will Rogers

Posted in Quotes

Worth

“If you want an accounting of your worth, count your friends.” Merry Browne

Posted in Quotes

Profit

“Remind people that profit is the difference between revenue and expense. This makes you look smart.” Scott Adams

Posted in Quotes

Show Business

“There’s no business like show business, but there are several businesses like accounting.” David Letterman

Posted in Quotes

Success

“The successful man is the one who finds out what is the matter with his business before his competitors do.” Roy L. Smith

Posted in Quotes