Category Archives: Small Business

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…

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…

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…

IRS Tax Notice Alert

As you have likely heard about in recent news, budget cuts have drastically affected the efficiency of the Internal Revenue Service over the past year. State departments of revenue are in similar or worse financial situations. We wanted to make you aware of a few trends we have seen during 2015. An increase in tax…

Should You Buy Into A Franchise?  

Are you considering buying a franchise to become or expand your business? As Denver accountants and CPAs, we have seen and worked with a number of businesses and franchisees in Colorado. After serving this market over the years, we have a few tips for you to consider as you weigh your options over becoming a…

4 Things Your CPA Wishes You Knew

  Your accountant is like your physician for your finances. He or she can only do so much with things that have already occurred, but when consulted about future events (i.e. “I’m thinking of running a marathon next year – is there anything I should be concerned about?”), they may have helpful advice that may…

5 Things Your CPA Wants To Tell You But Won’t…

If you own a business, you already know what an asset a good CPA can be when dealing with tax issues. However, your CPA’s experience and expertise covers more than just tax issues. Think about it: He or she deals with business financial issues all day, every day, and his or her clients range from…

How do I shift my business culture?

Any small business owner who has had to write a business plan understands there are a number of components that make a business successful. Usually, these businesses start with an entrepreneurial dream and, as the business grows, the systems start to fall into place. However, there has to be a strategy behind them or the…

When do I know I should become an S-corp?

Do you want to know when to become an S-corp? The main reason people even choose to create a business entity is to protect their personal assets from creditors and excessive tax liabilities. As a sole proprietorship, the entrepreneur and the business are one in the same. This means that if the business makes money, creates…

A minimum wage hike to $15 an hour?

Could a minimum wage increase be a good idea? A Colorado Accountant gives his opinion. The US Department of Labor website states, “Since 1938, the federal minimum wage has been increased 22 times,” and that “an overwhelming majority of Americans support an increase.” (source: http://www.dol.gov/minwage/mythbuster.htm) Overall, raising minimum wage to keep up with inflation and…