Taxpayers must follow guidelines when determining whether an activity is a business or a hobby.

There are rules for determining if an activity qualifies as a business and what limitations apply if the activity is not a business.

According to the IRS, in general, taxpayers may deduct ordinary and necessary expenses for conducting a trade or business. An ordinary expense is an expense that is common and accepted in the taxpayer’s trade or business.  A necessary expense is one that is appropriate for the business. Generally, an activity qualifies as a business if it is conducted in a business-like manner with a reasonable expectation of earning a profit.

There are some other factors to consider as well, so please consult your DWC tax advisor for more information.

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Did you know that you can renegotiate your lease and boost your company's bottom line in the process? Dalby, Wendland offers some quick ideas on how to generate extra income from your lease. Dalby, Wendland has accountants who are experienced in commercial real estate.

Ten Tips on Technology for Business Owners

What would you do if all of your data and essential information were gone or in the hands of someone who could do harm to you or your company?

Most companies do not answer this questions until it’s too late and they have had a security breach.

Think of the role technology plays in our personal and professional lives: it helps us engage with clients and colleagues; it can give businesses an edge on competition; it often provides new tools to run a business in an effective and efficient manner, and it allows us to create new ways of selling products and services.

Although technology is a prime concern for both small and large businesses, typically, small businesses have fewer defenses than big companies even though cyber criminals target smaller businesses just as often as they target larger companies.

Because one security breach could shut down your entire network and compromise important data, it is important to provide safeguards that...

What would you do if all of your data and essential information were gone or in the hands of someone who could do harm to you or your company?

Most companies do not answer this questions until it’s too late and they have had a security breach.

Think of the role technology plays in our personal and professional lives: it helps us engage with clients and colleagues; it can give businesses an edge on competition; it often provides new tools to run a business in an effective and efficient manner, and it allows us to create new ways of selling products and services.

Although technology is a prime concern for both small and large businesses, typically, small businesses have fewer defenses than big companies even though cyber criminals target smaller businesses just as often as they target larger companies.

Because one security breach could shut down your entire network and compromise important data, it is important to provide safeguards that will help protect you, your business information,...

Dalby, Wendland is hiring an Administrative Assistant/Data Entry Specialist to manage data in a MS Access database.

Do you have all the facts about retirement in regard to tax issues?

Retirement can raise a lot of questions about income, tax filing requirements, and Social Security Benefits.

In this article that appeared recently in the Business Times, Donna Hardy, a principal with Dalby, Wendland, offers some valuable tips and advice on planning for retirement.

Donna has worked for Dalby Wendland for 27 years and offers experience and expertise in tax and business planning as well as accounting systems and procedures and payroll consulting.

To receive our biweekly newsletter that includes tax tips and reminders,...

As companies implement internal control systems and look for ways to reduce fraud, they often hire forensic accountants who can work on cases that can include fraud, valuation, and bankruptcy.  

Dalby, Wendland has a team of accountants who are certified in financial forensics and fraud examination.

Steven D. Hovland, CPA, Cr.FA, recently received Diplomate status with the American Board of Forensic Accounting by the American College of Forensic Examiners Institute (ACFEI) and Dennis W. Wagner, CPA/ CFE/CVA/CFF, who has been with Dalby, Wendland since 1978, is a Certified Fraud Examiner with the Association for Certified Fraud Examiners.

Dalby, Wendland is also a member of both the Government Audit Quality Center (GAQC) and the Employee Benefit Audit Quality Center (EBPAQC) of the AICPA.

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In the coming weeks, we will be highlighting some of our professional team members who, in addition to being certified public accountants, have special designations in others areas such as technology, forensics, fraud exams, and valuations.

Greg A. Keller, CPA, CFF, PFS, CITP a principal in our Glenwood Springs office is Director of Information Technology for the firm. He has been with DWC for 27 years.

Greg has special designation from the American Institute of Certified Public Accountants as a Certified Information Technology Professional (CITP) for his experience and expertise in technology.

Here are five ways a certified information technology professional can use technology and accounting to your advantage: 

Having a business advisor with in-depth knowledge of accounting and software can help businesses get the most out of their software.

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Steven D. Hovland, CPA, Cr.FA, a certified public accountant with Dalby, Wendland & Co., has earned Diplomate status with the American Board of Forensic Accounting by the American College of Forensic Examiners Institute (ACFEI). The ACFEI is the world’s largest association of forensic science professionals, and part of its mission is to recognize the experience and education of professionals dedicated to the forensic sciences.

Diplomate status is a high honor reserved only for those few who are able to meet the stringent requirements of the ACFEI in the areas of knowledge, skill, training, and experience in the forensic sciences. Diplomates are leaders in their forensics science disciplines.

ACFEI members include many of the most prominent forensic science professional in the world.

Dalby, Wendland & Co. provides a range of accounting, auditing, and tax services from offices in Aspen, Glenwood Springs, Grand Junction, Montrose, Rifle, and Telluride.

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As individuals and families in the community continue to navigate the shifting and challenging economic landscape, a local accountant is lending a hand by teaching financial literacy to others through a local nonprofit.



When Kim Lesure, a certified public accountant, is not crunching numbers at the Montrose office of Dalby, Wendland & Co., P.C., she uses her background in accounting to help others understand money.



Lesure, a Mesa State graduate, began her career in public accounting in 2002.  While she specializes in tax, review, and compilation of financial statements, her work with Haven House focuses on the fundamentals of personal finances....

Dalby, Wendland, & Co., P.C. would like to congratulate the following professionals on their recent promotions. Ronda L. Watson, CPA, promoted to Associate Principal, graduated Cum Laude from Mesa State College and holds a Bachelor of Science Degree in Accounting. She joined Dalby, Wendland in 1997.  Her career includes 14 years of experience with areas of expertise in financial institutions, manufacturing companies, dealerships, family limited partnerships, the medical field, and employee benefit plans.  She has performed directors' examinations, PDPA examinations, and audit services in several industries. She also has extensive experience in the oil and gas field as well as with multi-state tax returns. She is a member of the Colorado Society of Certified Public Accountants, the American Institute of Certified Public Accountants, and is a graduate of the Partner Institute, the accounting industry’s premier partner development program.

Katharine S. (“Kat”) Doud, CPA, promoted to Audit Manager, is...

Christopher T. Allen, an auditor and Principal at Dalby Wendland’s Grand Junction location, recently shared some of his thoughts on the accounting and auditing industry in this article in the latest issue of The Business Times.  

Chris provides accounting and auditing services to clients in several Western Colorado industries including non-profit organizations, insurance companies, employee benefit plans, construction contractors, and manufacturing.

His specialties include audit, review, compilation of financial reports, reporting requirements, planning and performing procedures, and general business consulting and strategic planning.

Chris is a Certified Public Accountant licensed in Colorado and California....

The Vail Daily recently spotlighted Dalby, Wendland CPAs Michelle A. Winstead and Jason A. Anderson in an article that spotlights the Edwards accounting firm. The Vail Valley CPAs talk about the critical need for taxpayers to hire experienced accountants as new laws and legislation will have an impact on the way taxpayers file their returns this year.

Jason Anderson, CPA, is a 1998 graduate of Bellevue University in Bellevue, Neb. He specializes in income tax preparation and planning for businesses and individuals, foreign individuals and the real estate industry. Jason is currently in the process of obtaining the Certified Financial Planner designation. Michelle Winstead, CPA, grew up in Eagle County and is a 2003 Colorado State University graduate with a master's degree....

As I sat down to write this article, I thought it was appropriate to start by outlining some of the reasons that we give to charitable causes. My family and I support the American Cancer Society and participate in the annual Walk for Life because of the very personal ways that cancer has affected our family. I have friends who support health and human service organizations in the valley because they care for those that are downtrodden and need a helping hand. I have seen large gifts made by clients to institutions of higher learning that they attended. The local churches rely on donors that give in part because of the spiritual benefits that are provided to them. And of course, many people give because of the tax breaks that are provided on their federal and state income tax returns. Whatever the reason, charities rely heavily on the givers and this valley is truly full of them.

There are many ways to give. I would be remiss not to start with the non-monetary ways in which we give back to our community....

CSCPA member Pam Baumgartle, CPA talks about the importance of continuing education in the accounting industry in the latest edition of the Colorado Society of Certified Accountant Association’s NewsQuick feature called: We're All Ears.

 

In an effort to keep a finger on the pulse of Society members, the Society asks a new question via NewsQuick each week about industry hot topics. 

Last week the Society asked about continuing professional education for CPAs and here is Pam’s winning entry:

"The most valuable aspect of the CPE provided to us by the CSCPA is the locality and the timeliness of the information. As a medium-sized firm we have several staff accountants that need to obtain good CPE to further their knowledge and careers. Because the Society provides CPE on the western slope, we are able to send more of our people to the classes. Good, timely CPE provided at a location that is near our offices is vital to our Firm."  

Pam joined Dalby, Wendland & Co., P.C.,...

 

Roaring Fork Outdoor Volunteers (RFOV) recently honored extraordinary volunteers at its annual awards ceremony on Oct. 28 in Carbondale, Colorado. Each year, RFOV recognizes project and committee volunteers who have gone the extra mile to help fulfill the nonprofit's mission of promoting stewardship of public lands through volunteer opportunities for trail work and conservation projects.   Jamin Heady-Smith of Glenwood Springs is RFOV's Crew Leader of the Year. Heady-Smith first volunteered in 2006 for National Trails Day on the Scout Trail project in Glenwood Springs. He became a crew leader in 2007 and stepped up as technical advisor to help with project design and management in 2009. In 2010, Heady-Smith was the technical advisor on the Highline Trail project. This season he led crews on Basalt Mountain, American Lake, and both Hanging Lake Days, in addition to instructing at the Glenwood Springs Crew Leader Training and at the Stone Steps Skills Seminar at Hanging Lake for a total of eight full work days with RFOV in 2010. He also chairs RFOV's Crew Leader Development Committee. ...

Dalby, Wendland, & Co., P.C. announces Dennis W. Wagner, CPA/CFE/CVA/CFF has earned certification in Financial Forensics (CFF) by the American Institute of Certified Public Accountants (AICPA).

Congratulations to Lynn A. Kleager, CPA/ABV/CFF and Greg Keller, CPA/CITP/PFS/CFF who received recognition in the "Movers & Shakers" section in the November/December issue of The Colorado Society of CPAs publication for receiving the Certified in Financial Forensics (CFF) designation from the American Society of Certified Public Accountants. Lynn Kleager also became accredited in Business Valuation Services (ABV) by the AICPA.

Glenwood Springs, Colo. - Dalby, Wendland, & Co., P.C. announces Lynn A. Kleager, CPA/ABV/CFF and Greg A. Keller, CPA/CITP/PFS/CFF have become Certified in Financial Forensics (CFF) by the American Institute of Certified Public Accountants. Lynn Kleager also became accredited in Business Valuation Services (ABV) by the American Institute of Certified Public Accountants.

Grand Junction, Colo. - Dalby, Wendland, & Co., P.C. would like to congratulate the following professionals on their recent promotions.