Establishing a family LLC is not new, but it is gaining speed as high-income earners seek ways to protect their hard-earned assets and develop generational wealth. Baby boomers have the highest household net worth of any US generation before. Defined by the Federal...
Last month, the U.S. Supreme Court unanimously favored the IRS in the court ruling, Polselli v. Internal Revenue Service, permitting the agency to request the financial records of delinquent taxpayers without notification to third-party businesses. Many believe the...
If I had a penny for every time a small business client asked me one of the questions below, I might not be a CPA anymore. Whether they run a taco stand in downtown Denver or an oil and gas business in Durango doesn’t matter—many owners wonder the same things. ...
Cybersecurity issues are a modern-day way of life. Threats to our personal data and information occur daily as hackers and ill-spirited actors work to steal information they can financially capitalize upon. In 2003, The FTC’s Standards for Safeguarding Customer...
Inflation impacts everything – the cost of goods, services, utilities and even taxes. In 2023, the IRS adjusted some 2023 tax guidelines to lessen the chance of earned income bracket creep. Bracket creep occurs when your salary is increased to offset the cost of...
Many Homeowners Associations get confused when filing their annual taxes. Inexperienced board members need help understanding which tax reports to file, how to complete Form 1120 and if their HOA income is tax-exempt. Incorrect tax filings result in unexpected fines,...
