Accounting Insights

Are simple agreements for future equity (SAFEs) considered qualified small business stock (QSBS)? Surprisingly, or maybe not surprisingly, the IRS doesn’t know, or won’t tell you. The safe (pun intended) answer is that, generally, no, a SAFE is not QSBS.

Self-employed solo S corporation owners can enhance their retirement savings through a self-employed pension (SEP) individual retirement account (IRA) (SEP IRA). 

Small business owners have several options when it comes to positioning their business for an optimal income tax profile through an accounting method change for tax purposes. Learn about some common situations below where an accounting method change may be advantageous for your business and consult a Denver CPA or other licensed tax professional. 

If you are in Denver, Colorado or live anywhere else, and have unfiled tax returns, should you work with a CPA, enrolled agent or tax accountant to help you get them filed? The short answer is yes. Having a licensed professional help you get current with the IRS and...

If you’re getting a property ready to become a rental, it’s easy to assume the tax treatment begins the moment you decide, “I’m going to rent this out.” In practice, the rules usually focus less on intent and more on timing. The big question is when the property is...

Colorado Small Business Tax & Filing Calendar This comprehensive filing calendar outlines the essential deadlines for small businesses operating in Colorado. It covers various entity types, including S Corporations, Partnerships, C Corporations, and Sole...

For those who have been in the workforce for at least a decade or so, they will remember when beginning a new job, having to fill out a W-4 form for their employer which used allowances, or a number to claim. The higher the number of allowances you used, the less tax...

As S corporation owners are required to take a reasonable W-2 wage, they become dual status members of the company - owner and employee. While other business entity types have arrangements on how owners can deduct employee expenses they pay personally (and are later...

Not all rental property repairs are deductible for tax

Accounting software users and/or business owners who have had discussions with their tax advisors about accounting methods may have heard the concepts of cash-basis accounting or accrual accounting kicked around, and maybe even the hybrid method or percentage of completion.