R and D Accounting

09/30/2020

As of Oct 6th we are at a new location.
2095 6th Ave
Suite 210
Broomfield CO 80020

07/19/2020

Did you get a PPP loan and need to fill out the 3805EZ forgiveness application? We can help. Watch our Youtube video here.

PPP Loan Forgiveness EZ Application step by step instructions.

07/19/2020

Having problems filling out your W4 Application? Watch our Youtube Video here https://www.youtube.com/watch?v=NmXtbPsafAM&feature=youtu.be . We hope it helps and be sure to subscibe to the page. We will be doing a lot of videos over the next several months.

Need to fill out the new W4 form? We will help you step by step. Once you understand the sections you can easily fill it out.

03/30/2020

The various information on the stimulus actions continue to come out extremely rapidly. Like you, we continue to monitor the developing situations. However, we are currently in the middle of tax season, so we ask that you please not rely solely on us and take it upon yourself to stay up to date on developments.
Below are links to relevant resources:
IRS Covid Website: https://www.irs.gov/coronavirus
Colorado Covid page: https://covid19.colorado.gov/
Excellent article with FAQ’s on different programs: https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html
Businesses:
Please contact your local bankers for questions on the different SBA loan application processes as they will be more familiar with these aspects then we are. The SBA has not yet completed interpreting the new law nor published the new rules. Until this is completed, the banks will be in a holding pattern.
These loans are projected to be 2.5 times the average monthly payroll for 2019. Your banker will let you know what documentation is needed. The SBA site is only a preliminary application with the final application going through a local bank.
City of Westminster put out an excellent page with many resources for assistance:
https://www.westminstereconomicdevelopment.org/business/covid-19-business-resources/
With so many resources available, we suggest you take time to read through the different documents and requirements. Please go back to these resources often, as they will change sometimes on a daily basis.
The IRS has not given the cutoff date for filing your 2019 taxes to supersede higher income from your 2018 tax returns. What you need to know is that the stimulus payment is a non-taxable credit that will be on your 2020 tax return. So, if you do not get a check, and for some reason you should have, the credit can be included in your 2020 return.
We are working with limited staff so our response time may be longer than normal. Thank you for your patience and understanding.

Stay Healthy!
Your R and D Accounting team.

To explain the tax relief for those affected by coronavirus.

12/19/2017

Tax Reform Update. Check out the changes for 2018.

On Friday, December 15, 2017, the House and Senate conferees signed off on a consolidated tax bill resolving the two versions of the

07/21/2016

When a U.S. citizen marries someone from another country who is not a U.S. citizen, there are some special tax filing issues you will have to deal with. Based on your particular situation, the filing issues could be very complicated or straightforward. But in either case, someone knowledgeable about issues related to non-U.S. citizens should complete the preparation of your return.

07/19/2016

If you are an employer with fewer than 50 full-time employees, full-time equivalent employees, or both, you are not subject to the requirement to offer affordable health care insurance to your full-time employees. However, if you do offer the insurance you may qualify for the small business health care tax credit.

07/15/2016

Tax Accounting Humor Friday

07/14/2016

Taxpayers concerned about outliving their retirement income and those who, for one reason or another, desire to minimize their required minimum IRA distributions may wish to consider investing a portion of their account in a qualified longevity annuity contract (QLAC). IRS regulations generally allow taxpayers to use up to $125,000 or 25% of their retirement account (whichever is lower) to purchase a QLAC.

07/12/2016

Not filing your tax returns is probably one of the worst things you can do. Ignoring those letters from the IRS can escalate until the IRS prepares a substitute return for you based solely on income reported to them without any allowable exemptions or itemized deductions and using the unfavorable married filing separate status, which may be followed by Tax Court if response isn't timely and collection efforts.