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Cripple Creek casino operators hope rising revenues will make up for a tax increase the Colorado Limited Gaming Control Commission approved last week. The commission reversed a 5 percent tax decrease on the gaming industry that cost the commission’s previous members their seats. Casino operators had asked the commission in spring 2011 for a 10… Continue Reading Cripple Creek’s casinos grapple with tax increase

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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.… Continue Reading Entrepreneurs: Beware costly, even fatal, tax mistakes

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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… Continue Reading Today is tax day, the deadline request an extension

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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… Continue Reading House speaker says payroll tax bill won’t add jobs

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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… Continue Reading Doug Bruce sentenced to 180 days in jail, six years probation

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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… Continue Reading Big tax breaks for big companies a big problem, say small businesses

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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… Continue Reading Accounting, small business experts offer yearend tips

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Tuesday last day for state tax amnesty

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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… Continue Reading Tuesday last day for state tax amnesty

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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… Continue Reading Personal property tax still shackling manufacturers

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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… Continue Reading House repeals law withholding contractors’ taxes

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