Colorado 529 Plan – CollegeInvest First Step Program and more

I wanted to make sure all of my clients are aware of the Colorado First Step Program, which is a program designed to kickstart college savings.  Any child born or adopted after 1/1/20 in Colorado can receive a free $100 contribution from the state of Colorado to a Colorado CollegeInvest 529 Savings* account.  Even better, once you open a CollegeInvest account via the
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Inflation Reduction Act Individual Tax Provisions

In August, President Biden signed into law the 2022 Inflation Reduction Act (the Act). The Act includes several individual tax provisions – most notably an array of new tax credits relating to energy efficient homes, businesses, and vehicles. It also provides a three-year extension of the expanded Affordable Care Act health insurance subsidy. The following is a summary of some of the Act’s
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Secretary of State Annual Report Letters

If you are the owner of an LLC or corporation, you’ve probably received a few letters that look like this. The letters look very official and tell you that you need to file your annual periodic report for your entity with the Secretary of State. However if you read the fine print, you will see that these letters do NOT come from the
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I Set Up an LLC… Now What?

Maybe you are doing some side work in addition to your regular W-2 job.  Or maybe working from home during Covid made you realize you are over the 9 to 5 grind and you are going out on your own.  You heard that if you are working for yourself, you should set up an LLC so you got on the Secretary of State’s
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Self-Employment Tax FAQs

Maybe you’re newly self-employed and trying to get a handle on all things self-employment…or maybe you’ve been on your own for awhile and want to understand your taxes better.  One thing is certain, being self-employed can complicate your tax situation.  Here are some frequently asked questions about taxes when you are self-employed. Question: Do I get to claim more tax deductions now that
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2021 Year End Tax Planning

2021 Year End Tax Planning Now is the time to take a closer look at your current tax strategies to make sure they are still meeting your needs and take any last-minute steps that could save you money.  Here’s a look at some issues to consider as we approach year-end. Key tax considerations from recent tax legislation Many tax provisions were implemented under
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