Insights
Our team brings decades of experience to the table. Nurture your personal and business growth with our extensive library of financial resources.
Boxelder Attends Synergy 2022 Thomson Reuters Conference
Boxelder Consulting Attends Synergy 2023 – Thomson Reuters Annual Conference For Tax And Accounting Firms Earlier this month, our nation’s capital got a much-needed boost of ethics and responsibility, as members of Boxelder Consulting’s award-winning tax team came into town for Synergy 2022. Hosted Annually by Thomson Reuters, the Synergy User Conference For Tax And […]
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 […]
IRS Hires 4,000 As Agency Prepares For Enforcement Push
Don’t get caught unprepared — the IRS enforcement push is right around the corner. According to CNBC, the IRS has hired 4,000 new workers as the agency prepares for the 2023 tax filing season. The agency plans to hire 1,000 more before the end of the year, with most training being complete by Presidents Day. […]
Boxelder Consulting Wins The 2022 BBB Torch Awards For Ethics
On October 27, the Better Business Bureau (BBB) hosted its awards ceremony for the 2022 Torch Awards For Ethics. We’re proud to announce that Boxelder Consulting has won the 2022 Torch Award in the Tier 2 category as Central Colorado’s Medium Business of the Year! This is Boxelder’s first-ever Torch Awards win, and our second […]
COVID-19 Tax Relief: IRS To Refund $1.2 Billion in Late-Filing Fees For 1.6 Million Taxpayers
On Wednesday, August 24, the IRS announced it will waive penalties for many Americans who late-filed tax returns during the pandemic. Nearly 1.6 million filers will automatically receive a collective $1.2 billion in penalty refunds or credits, according to the federal agency, with many payments expected to arrive by the end of September. The relief […]
How is NIL Income Taxed for Collegiate NCAA Athletes? | Tax Planning for Student Athletes
On July 1st, 2021, the NCAA passed an interim policy allowing student athletes to profit from “Name, Image, and Likeness” (NIL) activities. . This change came after the Supreme Court’s unanimous ruling in NCAA v. Alston that the NCAA cannot limit academic-related payments to students, opening up the possibility for athletes to earn an income through […]
How to Navigate The Colorado Sales Tax Forgiveness Program For Food & Beverage Industries
Colorado recently enacted legislation allowing retailers in the restaurant, bar, mobile food service, and catering industries to receive sales tax forgiveness for the period of July through September 2022. As a result of the COVID-19 pandemic, the Colorado Department of Revenue introduced House Bill 1004, Covid-19 Sales Tax Relief in December 2020. The measures of […]
Worried About Inflation? Good News – The IRS Is Raising Its Optional Standard Mileage Rate For The Rest Of 2022
On June 9th, the IRS announced an increase in the optional standard mileage rate for the rest of 2022. Due to the effects of inflation and the increase in gas prices across the nation, the standard mileage rate for business travel will now be increased to 62.5 cents per mile traveled, which is 4 cents […]
UPDATED: Colorado Taxpayers To Receive $800 TABOR Refund in 2024
Updated Thursday, January 11th, 2024 The next round of TABOR refund checks will be in Spring, 2024. Colorado taxpayers can expect their state refund after filing their Colorado state income taxes. Here’s what you need to know: Your 2024 TABOR refund will continue to be considered non-taxable income. Your TABOR refund will be processed upon […]