Did you know that if your employee is using a company owned vehicle for personal use that this should be included in their annual W-2 as compensation? Marcy Palm wrote an informative article on Employee Personal Use of Business Vehicles. To read the article click here.
Understanding Health Insurance in 2014 and Beyond / Top Ten Reasons Why People With Even Modest Estates Need Estate Planning
If your business makes payments for rents, services, or interest you may be required to file 1099 forms annually. You are required to issue a 1099 to any non-corporate (remember LLCs are not corporations) vendor that you pay at least $600 during 2013 for rents, services (including parts and materials), or interest. Payments to tax-exempt [...]
Representation Letters: 2013 Business Representation Letter 2013 Individual Representation Letter Tax Questionnaires: 2013 Business Tax Questionnaire FILLABLE - FILLABLE (Adobe fillable form – Complete on your computer, save, then submit to Shaw & Associates) 2013 Business Tax Questionnaire NON-FILLABLE (Adobe non-fillable form – Print form, complete by hand, then submit to Shaw & Associates) 2013 Individual Tax [...]
If your business has signature authority over a financial account located outside of the United States and the total value of all foreign financial accounts is greater than $10,000 at any time during the calendar year, you are required to file an FBAR. This form is filed separate from your income tax return and must [...]
Although very similar, use tax is not the same as sales tax and tends to be overlooked by many business owners. In the state of Colorado, businesses are required to pay use tax on items purchased that are not for resale, and on which sales tax was not paid when purchased. If your business operates [...]