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Ease your tax pressure by starting early

Ease your tax pressure by starting early

Tax forms will be filling mailboxes in just a few weeks and CPAs are gearing up for their busiest quarter on the calendar. According to local tax preparers, there are several tips for individuals, businesses and students that can make the road to April 15 a little smoother. It’s personal Jason Watson, managing partner with… Continue Reading Ease your tax pressure by starting early

Colorado residents shoulder the 32nd highest state and local tax burden in the country, according to the Annual State-Local Tax Burdens report released today by the nonpartisan Tax Foundation. Using the most up-to-date data available, the report shows that taxpayers in Colorado paid 9 percent of their collective incomes in state and local taxes in… Continue Reading Colorado has 32nd highest state-local tax burden in the U.S.

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United Way 2-1-1 offers tax guidance

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United Way 2-1-1 offers tax guidance

Once again, Pikes Peak United Way 2-1-1 operators will provide information this tax season about tax credits and where to obtain free tax preparation through April 14. Last year in El Paso County, more than $103 million in Earned Income Tax Credit refunds were provided to 47,967 residents–but $100 million remained unclaimed. Low-to moderate-income families–making $49,000 or… Continue Reading United Way 2-1-1 offers tax guidance

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The 16-day federal government closure has caused a one- to two-week delay to start reviewing 2013 taxes, the Internal Revenue Service announced. Set by federal statute, the April 15 tax deadline remains in place. The original start date of the 2014 filing season was Jan. 21, and with a one- to two-week delay, the IRS… Continue Reading Shutdown delays tax filing dates

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Farmers and ranchers in El Paso County who lost livestock due to drought have an additional year to replace their stock, according to the Internal Revenue Service, which released the news Monday. Farmers and ranchers who were required to replace their animals by Dec. 31 now have one more year to do so. The additional… Continue Reading Drought-stricken ranchers given extension to replace animals

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Repair regulations set to affect small biz

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Burying your head in the sand won’t make the new federal repair regulations go away. In fact, avoidance will only make things worse. With that in mind, here’s the lowdown on what your business needs to know about — to remain in the good graces of the Internal Revenue Service. Effective Jan. 1, these tangible… Continue Reading Repair regulations set to affect small biz

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Tax report reflects county’s confidence

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El Paso County’s most recent monthly sales and use tax report reflects the increasing confidence of El Paso County residents. Automobile registrations were up 15 percent year over year. Use tax paid on construction materials was up 55 percent. Overall, sales and use taxes are up 7.8 percent over last year. These numbers suggest that… Continue Reading Tax report reflects county’s confidence

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Local politics might lead to a different future

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It was an eventful year in politics and government — nationally, regionally, and locally. In fact, 2012 may have been a watershed year, one in which the comfortable assumptions of the past were overturned and the future became cloudy and uncertain. Elections First came the party primary elections on June 26, notable locally on two… Continue Reading Local politics might lead to a different future

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Ballot issues to raise taxes have not historically fared well in El Paso County. So it was a surprise to some when two such issues passed with wide margins Tuesday. Ballot issue 1A, which called for a 23-hundredths of a cent sales tax increase to support staffing increases and equipment upgrades at the Sheriff’s Office,… Continue Reading Business community contributes to tax issues passing

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  Senate leaders moved toward showdown votes Wednesday on rival Democratic and Republican plans for extending broad tax cuts that will otherwise expire in January.   In an announcement that seemed to surprise Democrats, Senate Minority Leader Mitch McConnell, R-Ky., said on the Senate floor that he was accepting a Democratic offer to hold back-to-back… Continue Reading Senate ready for symbolic showdown on tax cuts

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