Finance & Accounting

Tax Season 2022 – Tax Credits & Deductions

Tax season 2022 is officially here. And with the IRS continuing to grow overwhelmed by its increasing backlog, it’s shaping up to be another chaotic one.  Luckily for taxpayers, the CPAs and tax experts at Boxelder Consulting are always just a phone call away. Voted one of Denver’s best tax services in 2022, our team has […]

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Tax Season 2022 – Important Dates & Deadlines

It’s that time of year again — and no, we’re not talking about March Madness. Tax season is here. And with the IRS continuing to grow overwhelmed by its pandemic-induced backlog, it’s shaping up to be another hectic one.  This means, yet again, that during the busiest and most complex months for most taxpayers, you can […]

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The S-Corp Secret: Why S-Corps are Perfect for Small Businesses

We’re gonna let you in on a little secret. Let’s say that, during the pandemic, you started up an online consulting service to make some income on the side. You probably weren’t expecting to start raking in six figures right off the bat, so it would have made sense to set up your business as […]

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Everything You Need for the 2020-2021 Tax Season

Tax season is here. But with major paper delays and a giant backlog of unopened returns at the IRS, as well as several COVID-19 stimulus payments to account for, 2021 is set to be another unusual year for taxpayers. Even during “normal” years, taxes are inherently stressful. This tax season could be even harder thanks […]

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Bitcoin & The IRS: Here’s What Your Cryptocurrency Holdings Mean for Tax Season

“Trust me,” your weird nephew said. “Bitcoin’s gonna be huge.” It was 2010. You probably laughed off the suggestion. Back then, after all, it took 5,000 Bitcoins to buy a large pizza. But maybe, just maybe, you listened and bought into crypto early. If so, good for you. Bitcoin has exploded in value since its […]

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Business Meals are 100% Deductible in 2021 and 2022

Last Updated: February 24, 2022 Go ahead, schedule that lunch meeting. Business meals are 100% deductible in 2021 and 2022. The new policy comes as part of the Consolidated Appropriations Act, 2021 (CAA, 2021), a bill that combines the $900 billion COVID-19 stimulus package signed in December with a larger omnibus spending plan for the […]

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Can W-2 Employees Deduct Work-From-Home (WFH) Expenses on their 2020 Tax Returns?

Recently, I’ve had several W-2 clients call with the same question: can I deduct my work-from-home expenses from my taxable income? The COVID-19 pandemic has led many of us to work-from-home (WFH) in order to protect ourselves and our co-workers. That means we’re incurring expenses we wouldn’t normally pay in an office setting: electricity, internet, […]

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Bet on GameStop (GME) Stock? Here’s How Your Earnings (or Losses) are Taxed

Millions of Americans took to the markets this week and took on Wall Street — united under the unlikely flag of GameStop (GME) stock. The buying frenzy began online, organized on a Reddit forum called Wall Street Bets. Spurred on by the internet hype, small-time investors from across the country bought GME stock, sending the […]

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Everything you need to know about the new IRS Form W-4

In 2020, the IRS decided to make major changes to its Form W-4, the form employers use to calculate their employees’ tax withholdings. But don’t let these changes overwhelm you. Here’s what you need to know about the overhauled W-4: New W-4: No More Withholding Allowances The IRS has decided to eliminate withholding allowances from […]

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