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Below is an article published by CPA Practice Advisor regarding year-end services to talk about with your CPA.   This is the time of year that lists are made (and checked twice). It’s also a great time for CPAs and clients to consult. Here’s a year-end checklist for critical end-of-year tasks to get your clients…

We are happy to announce that BiggsKofford is sponsoring a fantastic full-day powerful planning workshop: Scaling Up Business Growth Workshop: Prepare to Dominate Your Industry. BiggsKofford is able to sponsor seven clients this year.  Please contact us for additional information at info@biggskofford.com if you are interested in attending for FREE! (A savings of $575) Please…

BiggsKofford’s Senior Tax Partner, Greg Gandy, recently celebrated his 25th anniversary with the firm. During his 25-years at BiggsKofford, Greg has become the cornerstone of our firm’s Tax Practice as well as the leader of our Real Estate and Construction industry group. We are so pleased to celebrate this major career milestone with Greg.

Late Friday afternoon the IRS issued proposed regulations (which were published Monday morning) regarding transfers (money or in-kind) to state agencies or charitable organizations in exchange for state tax credits. The proposed regulations state that if the Taxpayer is receiving a State or Local tax credit for the contribution made, the credit received will reduce the…

The Colorado Enterprise Zone Program creates a business friendly environment in economically distressed areas by offering incentives to businesses and projects in such areas. If your business is located in one of the Colorado Enterprise Zones, you may be eligible to claim various Colorado tax credits based on your purchases of qualified equipment, facility expansion,…

We are excited to announce the promotion of Nick Phillips to Senior Merger & Acquisitions Associate. Phillips joined BiggsKofford CPA firm in 2013 and worked as a Senior Tax Associate before being promoted into the firm’s M&A division. Phillips graduated from the University of Colorado at Colorado Springs. He is a Certified Public Accountant (CPA) and…

Completing your residency and fellowship and successfully landing your first position is a great success.  This time can also be chaotic and full of changes.  Many times you have relocated to your first position and are experiencing financial changes as well.   Now that you have steady earnings, you should create a plan for your finances.…

We are thrilled to announce the promotion of Eric Morgan, CPA to Senior Manager, in the firm’s tax department. Morgan joined the firm in August of 2006. Morgan received his undergraduate degree from Brigham Young University and his MBA from the University of Colorado – Colorado Springs. In addition to accounting, Morgan enjoys reading and spending…

BiggsKofford has become aware of some changes at the Internal Revenue Service that we wanted to pass on to you. Recently, we have noted an increase in the occurrences of IRS field agents appearing at taxpayers’ places of business with no advance notice. In conversing with some of these agents, we learned that the IRS…

We recently became aware of a fraud scheme targeting 401(k) plans and wanted to bring it to your attention. In this scheme, a fraudster calls the 401(k) plan custodian or third-party administrator (“TPA”) and impersonates a plan participant. First, the fraudster changes the email address on file so the participant will not receive notice of…

The Journal of Accountancy recently published an article disussing changes in HSA Contributions.  You can see the article below, or click here to read the original. The IRS announced on Thursday that it is modifying the annual limitation on deductions for contributions to a health savings account (HSA) allowed for taxpayers with family coverage under…

The IRS released Bulletin 2018-10 a few days ago.  Most notable is the changes to HSA limit for family coverage.  There has been no change to individual limits. For calendar year 2018, the annual limitation on deductions under Internal Revenue Code Section 223(b)(2)(B) for an individual with family coverage under a high-deductible health plan is…

Are you curious how the government shut down will affect your taxes?  Here’s an article from the Journal of Accountancy that lays out what to expect.  What to expect during shutdown.

We would like to thank everyone for coming to our presentation on January 10th covering the Tax Cuts and Jobs Act. If you weren’t able to attend, or if you would like to review the presentation, the slides are available below. Do not hesitate to contact us about questions you have about how this new law…

Our clients have been asking about the possibility of prepaying real estate taxes due in 2018 before the end of 2017.  Thousands of homeowners are rushing this week to prepay their property taxes before the new tax legislation caps the amount of state and local taxes that can be deducted at $10,000. The IRS on Wednesday…

See below for a very insightful article by Matthew Keef with Edge Point.  See the original article here. By Matthew Keefe, Managing Director “Do investment bankers add value during an exit process?”  Or, in other words, “Are bankers worth their fee?”  I am confident that countless first-time sellers have wrestled with this question as they…