Corporate Transparency Act 2024 – What You Need To Know
What is the Corporate Transparency Act? The Corporate Transparency Act (CTA), which was enacted in 2021, aims to combat illicit activity such as money laundering and tax fraud. New legislation brings a new reporting requirement to the CTA. As of January 1, 2024, businesses that meet certain criteria must file a Beneficial Ownership Information (BOI) […]
The Importance of Cyber Insurance for Businesses
In today’s digital age, businesses face an ever-increasing threat in the form of cyberattacks. From small startups to established enterprises, the risk of falling victim to data breaches, ransomware attacks, or other malicious activities is a harsh reality. That’s where cyber insurance comes into play – a vital component of your business’s financial and reputational […]
Workers’ Compensation in Colorado: A Guide for Business Owners
As a responsible business owner, ensuring the safety and well-being of your employees is a top priority. Colorado, like many other states, has specific regulations in place to protect both employers and employees in the event of work-related injuries or illnesses. Workers’ compensation insurance plays a crucial role in this system, offering financial protection and […]
Level vs Fully Funded Group Health
Making Sense of Cost-Effective Health Insurance Options for Your Business When it comes to providing employee benefits, group health insurance is a crucial consideration for business owners and HR representatives. As a small business insurance broker, we understand that finding cost-effective options is a top priority. Let’s delve into two popular choices: Level and Fully […]
Keep An Eye Out For Crypto Scams: How To Spot Fake Cryptocurrency Investment Scams
Cryptocurrency has become a popular investment option in recent years, but it’s also become a prime target for scams. In fact, crypto scams are on the rise all over the country, and Coloradans are are seeing massive financial losses from them. In 2021, Coloradans reported losing about $25 million to investment scams. To avoid becoming […]
Deadline Alert: Final Estimated Tax Payment due 1/17
Reminder: The deadline for the final 2022 estimated tax payment is January 17! While it may feel like you’re mainly paying taxes during “tax season,” the IRS wants to receive their chunk of your income as you’re earning it. If you’re an employee, this manifests in the form of your withholding. Retirees have their taxes […]
IRS Delays $600 Payment Threshold for Third-Party 1099-K Issuance
The $600 Payment Threshold for Third-Party Payments Has Been Delayed — See How This Affects You Just before the holidays, the Internal Revenue Services announced they would delay their new $600 reporting threshold for third-party settlement organizations (TPSOs). The new reporting threshold, which was announced as part of the American Rescue Plan of 2021, had […]
How Biden’s New Tax Changes Could Affect You
Understanding The Changes To The Tax Code Under The Inflation Reduction Act The Inflation Reduction Act, one of the Biden Administration’s major pieces of legislation, received Congressional approval in August and was recently signed into law. Among the provisions of the Inflation Reduction Act are numerous significant changes to the tax code that could affect […]
2023 Tax Bracket Changes and IRS Annual Inflation Adjustments
On October 18, 2022, the IRS released its annual inflation adjustments for the 2023 tax year, which includes changes to more than 60 tax provisions, including tax rate schedules and the standard deduction. The agency releases these adjustments annually to account for inflation and prevent what is called “bracket creep.” Bracket creep refers to inflation […]