Review our recent accounting, tax, audit, and other insights
Highlighting important news in accounting
Depreciation Rule Changes Mean Additional Opportunity
The Tax Cuts and Jobs Act of 2017 (tax reform) ushered significant changes to the tax code to make it easier to navigate and less complex. Since the close of the 2018 tax season, many Denver businesses have been looking more closely at these modifications to see how...
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Rental Real Estate Enterprise Guidance Finalized
Specifically, rental real estate companies were unsure how, and if, the deduction could be applied to their business. Unfortunately, the law did not specify whether rental real estate activity would be considered a trade or business that would qualify for the deduction.
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Employee Parking Expense Deduction Disallowance
The Tax Cuts and Jobs Act of 2017 (tax reform) resulted in many changes designed to make the tax code easier to understand, compliance less complex and reduce overall business taxes.
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IRS Expands Self Correction Program
Denver area companies that offer 401(k), 403(b) and other retirement plans are required to maintain compliance with the rules and regulations imposed by the Department of Labor (DOL) and the IRS.
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Amended Tax Return Essentials
From time to time, Denver area business owners uncover an error on their business or individual tax return. This can happen when a review of prior year returns reveals that credits or deductions were missed which would entitle the taxpayer to an increased refund.
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Construction Industry Spotlight: FAQs on Revenue Recognition
The last half of 2019 is bound to be a whirlwind for Denver construction companies. In addition to managing the higher-than-average growth that experts are predicting, management will have to address labor shortages and strategize around recently released tax incentives.
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Key Details on Qualified Opportunity Zones
When tax reform, known as the Tax Cuts and Jobs Act, was signed into law in December of 2017, it ushered in significant changes to the tax code. For individuals there were many including as an increase in the standard deduction, repeal of the personal exemption, changes in tax brackets and expansion of the child tax credit.
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Growth Projected for Colorado Construction Companies
Many Denver area construction companies struggled to keep up with demand in 2018 given the challenges of a shrinking labor market. As the first quarter ends, it’s clear this challenge has not diminished the ambitions of management to take advantage of growth...
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Section 199a Guidance for Real Estate Companies
The Qualified Business Income Deduction (also known as Section 199a deduction) has provided many Denver area pass-through business owners a new tax savings opportunity. The deduction allows certain taxpayers to take a deduction equal to 20% of their qualifying...
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