Business Consulting

All About Quarterly Tax Returns

July 20, 2022
Shiny red "TAXES" on a dark background brilliantly backlit by three spotlights.

IRS Form 941 is a tax form that businesses file quarterly. It is how businesses report income taxes as well as payroll taxes, Social Security, and Medicare taxes that the business withheld from employee paychecks over the previous tax year. Filing deadlines are the last day of January, April, July, and October of any given…

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BiggsKofford CPA and accounting software expert Eric Morgan discusses QuickBooks Desktop versus QuickBooks Online

July 12, 2022

Many of our business clients use the QuickBooks software to keep track of finances and to gauge performance.  There are two editions of QuickBooks available:  QuickBooks Desktop, which is installed locally on your workstation or server, and QuickBooks Online, which is cloud-based and accessed through a web browser.  Both have advantages and disadvantages. QuickBooks Desktop…

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Denver-Based Valuation Services

November 2, 2021

Placing a number on your company’s value can be a daunting task in even the best situations. You’ve invested a significant portion of your time in building this company, so you want to see that effort reflected in the company’s value, but you also don’t want to let your own bias alter your assessment of…

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25th ANNUAL UCCS ECONOMIC FORUM!

September 9, 2021

  25th ANNUAL UCCS ECONOMIC FORUM!   BiggsKofford is a proud sponsor of the 25th Annual UCCS Economic Forum! This is a great opportunity to get important information about the economic health and outlook of the region. The UCCS Economic Forum is the leading source of unbiased and rigorous information for the Pikes Peak region.…

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American Rescue Plan Act of 2021

March 15, 2021

The House of Representatives passed the American Rescue Plan Act, H.R. 1319, on Wednesday and President Biden signed it into law on Thursday. This $1.9 trillion rescue package is intended to provide additional support in the fight against the pandemic and economic stimulus. Here are some of the key provisions: Recovery Rebates The act creates…

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Opportunity for a $10,000 Economic Injury Disaster Loan Grant

February 16, 2021

Opportunity for a $10,000 Economic Injury Disaster Loan Grant The SBA has announced an opportunity to get a $10,000 EIDL Grant. This new round of EIDL Grants is called the “Targeted EIDL Advance”. The eligibility for this next round of loans is based on: Didn’t already get the $10,000 EIDL advance last year. Located in…

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The Employee Retention Credit Gets Revamped for 2021

More Companies May Now Qualify for the Employee Retention Credit The Consolidated Appropriations Act (CAA) was signed into law on December 27, 2020 as a continued effort to support the economy during the COVID-19 pandemic. One significant adjustment over the Coronavirus Aid, Relief, and Economic Security (CARES) Act, is an expansion to the Employee Retention Credit…

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Trump Signed the Relief Act: Key Provisions for BiggsKofford Clients

December 28, 2020

Trump Signed the Relief Act: Key Provisions for BiggsKofford Clients President Trump has finally signed the coronavirus relief package that was passed by Congress last week. Here are the important things our clients are likely interested in hearing: 1. Second Stimulus Payment A second stimulus payment will be available, the details of which are as…

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PPP2 – Another COVID-19 Relief Bill on Its Way!

December 23, 2020

The House of Representatives and the U.S. Senate passed a $900 billion COVID-19 relief bill on Monday night which is expected to be signed in to law by President Trump at some point very soon. We discussed our early impressions of this news in a previous newsletter, HERE. There have been some important updates since…

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PPP TAX DEDUCTIBILITY UPDATE!

December 21, 2020

Congress announced yesterday that a new, $900 billion, COVID relief package is coming. This will include another round of Paycheck Protection Program (PPP) loans as well as a defined answer to a burning question for many, expenses paid for with forgiven PPP funds WILL be deductible! As we discussed in an earlier article, found HERE, the PPP funds were not intended to be included…

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ARE YOU READY TO SCALE UP YOUR BUSINESS? January Seminar Invite!

December 18, 2020

BiggsKofford is again sponsoring a fantastic and powerful planning workshop: Are You Ready to Scale Up Your Business? The program is Wednesday, January 13, 2021 Online/Virtual: Participate from your Computer. Many BiggsKofford clients have benefited from this program that provides an opportunity to “work on your business”. Our colleague, Chuck Kocher, local business coach and owner of The Transformation Company is hosting…

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Scaling Up Workshop Invite

November 19, 2020

Scaling Up Workshop Invite We are happy to announce that BiggsKofford is sponsoring a fantastic and powerful planning workshop: Are You Ready to Scale Up Your Business? The program is Wednesday, December 2, 2020 Online/Virtual: Participate from your Computer. Many BiggsKofford clients have benefited from this program that provides an opportunity to “work on your business”. Our colleague, Chuck Kocher, local…

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SBA Streamlines PPP Forgiveness for Loans of Less Than $50,000!

October 9, 2020

SBA Streamlines PPP Forgiveness for Loans of Less Than $50,000! A new interim final rule (IFR) provides new guidance concerning forgiveness and loan review processes for PPP loans of $50,000 or less. On Thursday, the SBA released a streamlined application, Form 3508S, designed specifically for those who borrowed less than $50,000. The forgiveness is not…

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SHARED INVITATION

June 24, 2020

Clients and Friends of BiggsKofford, I’m happy to pass along an invitation for the Scaling Up Workshop, being offered on Wednesday July 1. Many of the BiggsKofford Shareholders and clients have attended this workshop, and everyone believes it was well worth their time (and the small fee). As with most events – this will be…

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2016 Deductible Vehicle Mileage Rate Decrease

January 8, 2016

The IRS has announced the official mileage rates for 2016.   The IRS mileage rates for 2016 for the use of a vehicle are: 54 Cents per mile for business use down from 5 cents in 2015. 19 cents per mile for medical reasons or moving purposes down from 23 cents in 2015. 14 cents per…

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BiggsKofford Alliance with ADP

October 15, 2015

BiggsKofford is extremely selective when reviewing possible partnerships with other businesses. Because of this, when we find a fit, we know the quality of service and care for clients will closely match our firm values. ADP seeks and negotiates partnerships with best-of-breed organizations to bring added value to our joint clients and to increase operating…

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