Maybe your business situation has changed and now you need to change your entity from a Limited Liability Company to an S Corporation. Below are 2 options for converting your LLC to an S Corporation: –Change ONLY the tax status…
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S Corporation Taxes
Much like owners of a partnership, shareholders of an S-corporation are taxed on their allocated share of the business’s profits — no matter whether or not those profits were actually distributed to them. The main reason for being recognized as…
S Corporations
An “S Corporation” is a for profit corporation which elects to be treated as an S Corporation. S Corporations typically do not pay taxes and instead file an informational return Form 1120S showing net profit or loss which flows through…
Survive and Thrive COS
Survive & Thrive COS provides funding in the form of low-interest loans of up to $25,000, to support resiliency and continue building healthy businesses and nonprofits. There are no stipulations for what the money can be used. ELIGIBILITY For profit…
Colorado Income Tax Deadline
Colorado extended the income tax payment deadline for Colorado taxpayers until July 15, 2020 without penalty or interest. It applies to any income tax payment, regardless of the amount. The state is not imposing any caps on the amount of…
NEW IRS Charitable Contribution Regulations
The U.S. Department of the Treasury and the Internal Revenue Service today issued final regulations that require taxpayers to reduce their charitable contribution deductions by the amount of any state or local tax credits they receive or expect to receive…
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
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 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
Colorado’s New Minimum Wage
On January 1, 2018, the Colorado minimum wage will increase to $10.20 per hour. For tipped employees, the minimum wage will be $7.18. The new minimum wage is the result of the passage of Amendment 70 by Colorado voters in…
Posted in Colorado
