Payroll & Informational Returns
Payroll taxes can be confusing and difficult to manage.
We can help you set up regular payroll processing and reconcile your payroll withholding records. We accurately prepare all required monthly, quarterly, and year-end Federal and state payroll tax returns, which include Forms 940, 941, W-2, and W-3 for you on a timely basis. We also prepare the annual informational returns reporting payments to contractors on Forms 1099 and 1096.
Through the closing weeks of 2019, many Denver business owners were focused on wrapping up year-end items, assessing performance, refining goals and setting new benchmarks. Many were focused on analyzing the company’s expenses, revenues and overall financial position to create the budget for 2020.
Dedicated employees who commit to working hard to complete a project, meet increased production demands and drive innovation should be rewarded. In addition to their base compensation, other benefits such as retirement plans, health, dental and year-end bonuses are often given. The Department of Labor (DOL) recently issued, Final Rule – Overtime Update, which will impact Denver area employers.
As year-end quickly approaches, many Colorado businesses are investigating opportunities to take advantage of tax-saving strategies to reduce tax liabilities. Since the passage of the Tax Cuts and Jobs Act of 2017 (tax reform), and lowering of the overall corporate tax rate, many of the traditional tax credits and deductions have been phased-out. This has left many searching for incentives to leverage to optimize their tax position.