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How to Form an LLC in Colorado

Choose a Name for Your LLC   Under Colorado law, an LLC must contain the words or abbreviation “limited liability company,” “ltd. liability company,” “limited liability co.,” “ltd. liability co.,” “limited,” “l.l.c.,” “llc” or “ltd.,”Limited Liability Company,” “Limited Company,” or

Posted in Colorado

Receipts on Form 1099-K

Business owners may have received IRS Form 1099-Ks from most of the Payment Processors used during 2018. The Form 1099-K reports the gross proceeds received from Payment Processors, over the course of the year, which includes credit card companies, PayPal,

Posted in IRS, Taxes

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