Blog Category: News and Tax Blog


It’s Time to Review your 2017 Withholding and Estimated Tax Payments

Penny Sayre, CPA, Tax Manager,

The kids are back to school and life is a little slower now. It’s a good time to look at your year-to-date federal and Colorado withholdings to make sure that you won’t have either a large balance due at year-end or a large overpayment on April 15, 2018. Did you get a large refund with  … Read more

  Filed under: News and Tax Blog, Practice Elevations - Medical/Dental Blog


Protect your Professional Practice from Theft with Adequate Internal Controls

Penny Sayre, CPA, Tax Manager,

We’ve previously published several articles in our blog, Practice Elevations, related to the need for adequate internal controls to prevent theft in medical and dental practices.  Because of evidence that theft is increasingly common in small businesses, including professional practices, with the amount of losses also on the rise, we are returning to this subject  … Read more

  Filed under: Archived, News and Tax Blog, Practice Elevations - Medical/Dental Blog


Collections Performance: 3 Indicators You Should Be Watching Copy

Penny Sayre, CPA, Tax Manager,

Collections are the lifeblood of any medical or dental practice. But do you really know if you’re doing a good job of collecting receivables? Find out for sure by monitoring these three collections performance indicators: 1. Days in Accounts Receivable To find out how long it takes to collect a day's worth of gross charges,  … Read more

  Filed under: Archived, News and Tax Blog, Practice Elevations - Medical/Dental Blog


Hurricane donors: avoid charity scams!

Doreen Merz, CPA, Senior Tax Manager,

Colorado Secretary of State Wayne Williams recently urged Coloradans to be mindful when making a donation to Hurricane Harvey relief efforts. “It is important for Coloradans to research the charities they support and trust that their donations are being used prudently,” he said. Williams shared 10 tips to avoid charity scams. 10 tips to avoid  … Read more

  Filed under: Charitable Donations, Not-for-Profit Blog, Not-for-Profit Newsletter


Will the IRS Consider your Business a Hobby?

Doreen Merz, CPA, Senior Tax Manager,

Will the IRS Consider your Business a Hobby?

If you run a business “on the side” and derive most of your income from another source (whether from another business you own, employment or investments), you may face a peculiar risk: Under certain circumstances, this on-the-side business might not be a business at all in the eyes of the IRS. It may be a  … Read more

  Filed under: News and Tax Blog, Small Business


How Entity Type Affects Tax Planning for Owner-employees

Melody Antles, CPA, Tax Manager,

When planning for the future, owner-employees face a variety of distinctive tax challenges and advantages, depending on whether their business is structured as a partnership, limited liability company (LLC) or corporation. It is important to be aware of how the divergent entity types may apply to your particular situation. Partnerships and LLCs If you are  … Read more

  Filed under: Business Taxation, News and Tax Blog


Choose the Best Way to Reimburse Employee Travel Expenses

Bernie Benyak, CPA, CFP®, NSSA® Tax Director,

If your employees incur work-related travel expenses, you can better attract and retain the best talent by reimbursing these expenses. To secure tax-advantaged treatment for your business and your employees, it is critical to comply with IRS rules.  Reasons to Reimburse While unreimbursed work-related travel expenses generally are deductible on a taxpayer’s individual tax return  … Read more

  Filed under: News and Tax Blog


Seasonal Business? Optimize your Operating Cycle

Katie Lutze, CPA, Controller,

Seasonal business: optimize your operating cycle

Every business has some degree of ups and downs during the year; however, cash flow fluctuations are much more intense for seasonal businesses. If your company defines itself as such, it’s important to optimize your operating cycle to anticipate and minimize shortfalls. A high-growth example To illustrate: Consider a manufacturer and distributor of lawn-and-garden products  … Read more

  Filed under: News and Tax Blog


Hiring? A New I-9 Form is Required

Judy Kaltenbacher, CPA, Tax Partner,

Employers to use the New I-9 Form The U.S. Citizenship and Immigration Services (USCIS) has released a revised version of the Form I-9 (Employment Eligibility Verification). Employees must begin using the new version to verify a new hire's identity and work authorization by September 18, 2017. In the meantime, employers have the option of using the outgoing version,  … Read more

  Filed under: News and Tax Blog