Jennifer Wright, Enrolled Agent | Rules of the Home Office Deduction | Dalby Wendland & Co. | CPAs | Business Advisors | Grand Junction CO | Glenwood Springs CO | Montrose CO

Rules of the Home Office Deduction

Working from home has its perks. You can skip the commute, wear comfy clothing, keep a more flexible schedule, and you might even save money on your tax return. The home office deduction can save you a bundle, if you meet the tax law qualifications. The home office deduction is available for homeowners and renters, […]

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Tax Cuts Jobs Act (TCJA) 2019 | Understanding the TCJA Limit on Interest Expense | Dalby Wendland & Co. | CPAs | Business Advisors | Grand Junction CO | Glenwood Springs CO | Montrose CO

Understanding the TCJA Limit on Interest Expense Deductions

The Tax Cuts and Jobs Act (TCJA) introduced a variety of tax benefits for businesses, including  slashing corporate income tax rates, temporarily reducing individual rates, and it established a new 20% deduction for certain pass-through income. However, the TCJA also placed limits on several tax breaks, including the amount for the interest expense deduction. Small […]

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Financial Reporting: Measuring Fair Value

Business assets are generally reported at the lower of cost or market value. Under this accounting principle, certain assets are reported at fair value, such as asset retirement obligations and derivatives. Fair value also comes into play in M&A transactions. That is, if one company acquires another, the buyer must allocate the purchase price of […]

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Taxes on Series EE Savings Bonds

Purchasing savings bonds have been a popular way for many years to set aside money for savings. Oftentimes they are given by relatives for birthdays and holidays to babies and children to save for college.  In fact, you may have Series EE savings bonds that were bought many years ago, storing them in a file […]

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computer programmer doing research | R&D Tax Credit for Manufacturers | Dalby, Wendland & Co. | CPAs & Business Advisors | Grand Junction Colorado | Glenwood Springs Colorado | Montrose Colorado

R&D Tax Credit for Manufacturers

Many manufacturing companies fail to take advantage of the generous research and development (R&D) tax credit simply because they don’t have staff working in a lab. The Internal Revenue Service’s (IRS) definition of R&D is codified at Internal Revenue Code Section 41 and its related regulations — and it may not be exactly what you […]

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Taxes and Divorce

People going through a divorce may not consider tax implications until it’s too late. Both parties should take steps to minimize taxes and tax-related decisions are properly made with a tax advisor before the divorce is final.  Here are four issues to understand regarding taxes and divorce. Alimony or support payments. Divorce or separation agreements […]

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boost business concept

Audit Management Letters Give Good Advice

Audited financial statements come with a special bonus: an “audit management letter” that recommends ways to improve your business. It gives good and  free advice from financial pros who’ve seen hundreds of businesses at their best (and worst) and who know which strategies work (and which don’t). If you haven’t already implemented changes based on […]

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Michael Brooks Certified Public Accountant | Cost Segregation: A Tax-Saving Strategy | Dalby Wendland & Co. | CPAs & Business Advisors | Colorado

Cost Segregation: A Tax-Saving Strategy

Depreciation is a reduction in the value of an asset over time resulting from wear and tear, deterioration or obsolescence. The tax law acknowledges depreciation by allowing taxpayers to take deductions over a period of years. The number of years over which the property can be depreciated depends on the category into which it falls […]

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