Firm Promotes Krystal Kowall to Shareholder
The firm is pleased to announce the promotion of Krystal Kowall, CPA, to Tax Shareholder. This promotion reflects the hard work and dedication she has shown in building client relationships while offering tax guidance and direction to even the most complex of tax...
IRS Releases New Guidance on Form 1099-K
In Summary The IRS has permanently restored the reporting threshold for third-party payment platforms (like PayPal and Venmo) to issue Form 1099-K. They are now required to issue the form only if a user receives over $20,000 in total payments and has more than 200...
Transitional Relief for Car Loan Interest Reporting
In Summary One-Year Transition Period: The IRS and Treasury Department, via Notice 2025-57 (released October 21), are providing lenders a one-year transition period to implement the new car loan reporting requirements. New Deduction for Individuals: The new...
Colorado Adopts Five Tax Changes in Special Session
In Summary The Qualified business income (QBI) deduction addback for Colorado taxable income was made permanent (HB25B-1001) for single filers with income of $500,000 or more and joint filers with income of $1,000,000 or more, starting January 1, 2026. The sales tax...