This is NOT a government form.
Posted: Tue Nov 08 09:03:21 PST 2011Some information from our friends at G. Redmond Michaels, P.C. (http://grmpc.com/) Our firm recently received in the mail a letter that appears similar to an official government form. Upon review of this letter it is merely potentially deceptive solicitation. The letter was addressed to Colorado Businesses with the message, ?INSIDE: 12 Federal and Colorado Regulations Affecting Your Employees ...
What should I do if I get a Letter from the IRS?
Posted: Tue Aug 02 11:13:45 PDT 2011The IRS has expanded its use of correspondence to request additional information and verification of certain items on tax returns. In that regard, the IRS has expanded its use of correspondence examinations rather than field examinations and reports indicate a 170% increase in correspondence examinations versus only a 25% increase in field examinations. Generally, an IRS correspondence exam con...
What Do Lipstick and Dog Food Have in Common?
Posted: Mon Jun 27 13:19:34 PDT 2011In 2008 we heard that in recessionary times, one product that always does well is lipstick. Why lipstick? Because it is a relatively inexpensive purchase that always makes you feel and look better. If you can no longer afford to go out to a nice restaurant for dinner on a Saturday night ? stay home, order in pizza, and wear your new lipstick. You will feel better. In 2009 nail polish replac...
The IRS does not initiate e-mail communication with taxpayers regarding tax account matters
Posted: Wed Jun 22 12:42:36 PDT 2011Last week, a client forwarded an email to us that appeared to be from the IRS asking for information required to process her tax return. It included an attachment (which contained a virus) that she was instructed to complete and return. These types of email and phishing attempts are, unfortunately, pretty common these days. People are especially vulnerable to messages that appear to be from t...
Scam Warning for Businesses in Colorado
Posted: Mon Apr 04 09:14:33 PDT 2011Don’t Get Ripped Off Colorado Corporations Must File Annual Periodic Reports. The cost is $10. We just received an official-looking document with our Colorado corporate ID number in the title asking for $225 to file our periodic report. The letter has a due date of April 15 and includes a couple of paragraphs of information about state requirements for filing and warnings about con...
In 20 years, I don?t want to be you, Rick.
Posted: Tue Sep 07 08:37:05 PDT 2010When I started my career over 30 years ago, I assumed that hard work and perseverance were the keys to success. Leading by example?working longer and harder than anyone?was the correct path, right? Well, partially. Over the years, I have been involved in several ventures including founding a firm from scratch and growing it into a very successful business. I learned that as my business grew ...
American Opportunity Credit Helps Pay for First Four Years of College
Posted: Tue May 11 08:07:53 PDT 2010(From our newsletter.) More parents and students can use a federal education credit to offset part of the cost of college under the new American Opportunity Credit. This credit modifies the existing Hope credit for tax years 2009 and 2010, making it available to a broader range of taxpayers. Income guidelines are expanded and required course materials are added to the list of qualified expenses...
?Cleanup, health plan aisle?
Posted: Tue Mar 23 09:54:07 PDT 2010With all the talk about health care on a national level, I came across this little tidbit about Safeway (yes, the grocer) offering to help other employers set up incentive-based health plans modeled after their own successful program. http://bit.ly/bgMKbA A grocer offering health care? It’s simple innovation. Safeway came up with a system that saves them money and sees a way to make mor...
Tax times, they are a changin??
Posted: Fri Mar 12 12:59:31 PST 2010During my career, there has never been a time with such rapid change in the tax law. Add to that the recent effects of the economy on businesses & individuals and it makes sense to consider changing your mindset when it comes to taxes. With many newly created or expanded credits available there may be increased incentive to file your returns earlier than you may have done in the past. Also, ...
Making Change
Posted: Tue Mar 02 15:44:13 PST 2010This may not be the kind of change you?d normally think of on a blog about management ideas. Think coins. Consider the last several times you were given change by a cashier. How often did you receive the bills first and the coins on top? Let me count the problems with this strategy: the coins often end up on the floor (or the ground below the drive-thru window), it takes two hands to put aw...
