Most people starting a small business default to filing a sole proprietorship. Why not, it is generally quite easy to do. But, other entity structures may work better to accomplish your financial goals as you grow a business. Before deciding, learn the pros and cons...
When you own a small business, tax deductions can lighten your tax burden and save you money. They make the cost of doing business more affordable. The more you understand deductions, the more you use them to lower your total tax liability. In other words, you keep...
Cryptocurrency isn’t new. For years now, we’ve seen more and more clients needing help determining their tax liability on the sale and exchange of crypto. Like stocks, bonds, gold and silver, the IRS considers crypto property and treats it as such....
Working for yourself has its perks. Unlike a standard employee workplace structure, you set the rules, decide your work hours and determine which jobs to take. Some aspects make individual work difficult unless you know where to turn. Unlike working for an employer,...
Track Records Having a side hustle is nothing new. People have worked multiple jobs for years to either help pay bills, save extra money, or learn a new skill. COVID-19 expanded upon the gig economy as it presented opportunities for people to pick up extra remote work...
Every tax season, we meet with small Colorado business owners to discuss ways they can reduce their taxes. Our tax strategies help owners take advantage of available credits and deductions while managing the timing of their revenue and expenses. We often find that...
