Author Archives: clearpathaccountants

End of Year Tax Planning

November is a great time to do tax planning before the end of the year. Reviewing your tax position now gives you time to implement tax saving strategies before the “busyness” of the holiday season sets in. Here are several techniques that could help you keep more money in your pocket (until Black Friday that…

Do you want what happened to Prince’s family to happen to yours?

This highly recognized luminary is drawing much attention as his death is causing family acrimony over the performer’s more than $300 million estate.  The disappointing fact about this drama is it could have been avoided if he had, as a start, a will to address his desires. Sometimes we are brought to action because of…

Rental Car, Umbrella & Home Insurance

Please read below from our trusted insurance partner Steve Duris at Frontier Insurance about the importance of personal umbrella liability policies, renting cars and making sure you have the right amount of dwelling coverage. Umbrella Insurance and Liability Limits You have insurance for two reasons…. 1. to restore people you have injured and property you…

Business Coaching by CPA

We have been using a professional, Actuate Social, to assist our firm with getting our messages out using the various social media available and to manage and enhance our website.  One challenge we uncovered during strategy sessions with them was the public stereotype that all a CPA firm does is tax returns.  Since our firm…

The Identity Protection PIN (IP PIN) Update

Due to an error, taxpayers are receiving Identity Protection PIN letters with an incorrect year listed. Taxpayers and tax professionals should be advised the IP PIN listed on the CP01A Notice dated January 4, 2016 is valid for use on all individual tax returns filed in 2016. The notice incorrectly indicates the IP PIN issued…

Accountants do have a life during tax season….

…How about the good fortune of having your season tickets pulled in the lottery for SUPER BOWL 50!! Ralph Shinn, partner with our firm is a die-hard Broncos fan and has been since his early days growing up in southern Colorado. A native of Colorado, he has seen the team’s ups and downs over the…

Have you considered offering telecommuting (working from home) as an option to your employees?

Allowing employees to telecommute can be a “win-win” for employees and employers. Potential benefits to employees include: Improved work-life integration Reduction or elimination of commuting costs Increased job satisfaction Time savings Potential benefits to employers that offer telecommuting include: Increased productivity Decreased office costs Lower turnover rates Expanded talent pool Many of our staff at…

Why Christmas Bonuses DON’T Matter

Is a Christmas bonus a good practice for small business owners? Recent studies by Hewitt Associates and Bank of America show only about 40-50% of companies were planning on paying out a Christmas bonus. They found most companies found it more beneficial to use financial incentives based on performance, which typically outweigh any income paid…

Required Minimum Distributions For Those Over 70½

For clients fortunate enough not to need to use income from qualified retirement plans in their 70s, required minimum distributions can sometimes amount to a taxable nuisance. There are ways, however, to get more mileage out of those required distributions, particularly with advance planning. The first step, then, is to make sure the client knows…

Should You Upgrade to Windows 10? Yes and No…

We’d like to open up our blog for a message from Jeff Fantalis from (be)iNVENTiV, a Colorado IT firm we work with. Jeff, take it away!   Windows 10 was released at the end of July. It adds some features and functions that you might find useful but should you take the free upgrade from Microsoft and…