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

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

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

New Round of Economic Injury Disaster Loan (EIDL) Advances

The SBA is launching a new round of Economic Injury Disaster Loan (EIDL) Advances – called Targeted EIDL Advance – which provides eligible businesses with $10,000 in total grant assistance. If you received the EIDL Advance last year in an

Posted in Tips

IRS urges employers to choose carefully when selecting a payroll service provider

Below are highlights from IRS Issue Number:  IR-2020-186 Many employers outsource their payroll and related tax duties to third parties. This streamlines business operations by collecting and timely depositing payroll taxes on the employer’s behalf and filing required payroll tax

Posted in IRS, Tips

Applications Now Open for 2021 Pikes Peak Small Business COVID-19 Relief Program

El Paso County is working with the Pikes Peak Area Council of Governments (PPACG) to distribute additional relief funding locally, through a new grant program, the 2021 Pikes Peak Small Business COVID-19 Relief Program. Grant awards will be a maximum

Posted in Colorado, Tips

IRS Expected to Audit More Small Businesses in 2021

After years of low examination rates, the IRS announced it will increase audits of small businesses: by 50 percent. This news comes during a time when complex tax law changes and economic stimulus programs in response to COVID-19 have made

Posted in IRS, Taxes, Tips