by Monica Mendoza Published: May 25,2012
Tags: entreprenuers, Taxes
No budding entrepreneur wants to go down in flames over a misunderstanding of the tax code. But, it happens, local experts say. CPA Etienne Hardre, owner of Next Exit Advisors, watched a startup company go bankrupt because its owner made a fatal payroll tax mistake when it classified workers as independent contractors instead of employees. [...] [...]
by Monica Mendoza Published: April 17,2012
If the soundtrack from the movie “Jaws” is going off in your head you might realize that today is tax day. If you owe the government money, today is pay-up day. You could get a save if you file an IRS Form 4868, which allows a six-month extension. But, this is not a get out [...] [...]
by Associated Press Published: February 16,2012
Tags: Jobs, payroll taxes, Taxes
A compromise bill extending a payroll tax cut and jobless benefits for the long-term unemployed should be enacted, but it’s not going to help the economy very much, House Speaker John Boehner said Thursday. Boehner, R-Ohio, made the remarks hours after bipartisan congressional bargainers announced agreement on legislation extending those provisions through 2012 and heading [...] [...]
by Rob Larimer Published: February 13,2012
Tags: Doug Bruce, Taxes
A Denver judge sentenced Colorado Springs landlord and politico Douglas Bruce to 180 days in the Denver County Jail and a six-years probation for tax evasion. The sentencing comes after a jury convicted Bruce in December of three felonies and one misdemeanor related to tax-evasion cases in 2005, 2006 and 2007. As part of his [...] [...]
by Amy Gillentine Published: February 6,2012
Tags: corporations, loopholes, small businesses, Taxes
Small business owners say corporate tax loopholes give the nation’s biggest companies an unfair business advantage. A survey of its members, the American Sustainable Business Council, Main Street Alliance and the Small Business Majority reports that small business owners favor increasing taxes on millionaire incomes, letting high-end tax cuts expire and closing the carried-interest loophole [...] [...]
by Amy Gillentine Published: December 8,2011
Tags: Accounting, Taxes, yearend
If small business owners take some time this month to review their 2012 business and tax plans, it could mean a little more money in their pockets next year. Local accountants and small business specialists are offering a few end-of-year tax tips. Stockman Kast Ryan accountant Cheryl Solze says keep first things first. “No matter [...] [...]
Today is the deadline for Colorado taxpayers who are behind on their taxes to pay up and avoid penalties under the state’s tax amnesty program. Under the Colorado Department of Revenue’s program, most delinquent tax payers can avoid penalties and pay half the interest on past due taxes. The department reported a surge of calls [...] [...]
by Monica Mendoza Published: November 4,2011
Tags: manufacturers, Taxes
A group of Colorado Springs manufacturers say that if the city waived a use tax on big ticket equipment items it would serve as an incentive to attract and retain business, especially manufacturers that spend millions each year on heavy equipment. Some say the use tax is a double burden because businesses are already taxed [...] [...]
by Associated Press Published: October 27,2011
Tags: Contractors, House of Representatives, Jobs, Taxes
In a rare show of unity in a bitterly partisan year, the House has voted overwhelmingly to repeal a law requiring federal, state and local governments to withhold 3 percent of what contractors are owed until they pay their taxes. Federal investigators have found tens of thousands of contractors who owe billions of dollars to [...] [...]
by Associated Press Published: October 13,2011
Tags: cuts, House Democrats, supercommittee, Taxes
House Democrats are advising Congress’ supercommittee to create jobs, raise revenues and avoid damaging cuts to crucial public works, education and health programs as the panel searches for ways to curb the government’s growing debt. A day ahead of a deadline for submitting advice to the supercommittee, minority Democrats from 16 House committees released letters [...] [...]
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