NEWS & UPDATES

Almost nobody runs into 1099 problems in January. They run into them when filing season arrives and the information they need is scattered across emails and invoices. The work of filing correctly happens long before the forms are due. Get a completed W-9 from every contractor and vendor before you pay them for the first time, and make the W-9 part of your onboarding process.

Credit card statements show that you spent money, but receipts prove what you bought and why it was a legitimate business expense. The IRS requires documentation of the what, when, where, and why. Receipts provide itemized details, business purpose, and proof you can’t get from a statement alone—saving you time, money, and stress later.

Personal property tax in Colorado applies to business assets like furniture, equipment, and machinery. If your personal property exceeds $56,000, you must file a Declaration Schedule by April 15. Missing the deadline can lead to penalties, estimated assessments, and limited appeal rights. Staying on top of personal property tax helps avoid surprises and keeps your business running smoothly.