FarmHouse CPAs and Payroll

04/15/2021

I’ve always joked that I wouldn’t mind if it was cold, wet, and snowy until April 15th because I’m stuck in an office anyway. It looks like I’m getting what I asked for . . . kind of.

Today, April 15th, is the normal due date for income tax returns, but the IRS has once again pushed out the due date for filing your returns. The new due date for 2020 individual income tax returns is May 17th, 2021.

Great news . . . kind of.

Even though the new due date for your tax returns has been pushed back a month, we are not pushing our tax season back another month. Our tax season ends today. No more 10-12 hour days and no more working weekends. We’ll continue to work towards the May 17th deadline, but at a much calmer pace.
Spring is my favorite time of year. I know the FarmHouse team and I are ready to return to our normal lives and enjoy this time as the new season rolls in.

Great news . . . definitely!

01/10/2021

Like other states, Colorado continues to see increased unemployment fraud activity. Many Colorado employers are noticing fraudulent unemployment claims being filed in the names of active employees.

When a claim is filed using the identity of one of your employees, you receive a questionnaire by email or U.S. mail requesting information about the job separation. If your employee is still employed, and they state they did not file a claim, please complete the questionnaire as soon as possible.

Employees who are the victim of UI fraud should submit a Fraud Report online. They should visit ColoradoUI.gov, click the “Report Fraud” button, then the “Submit a Fraud Report” button. The Colorado Department of Labor & Employment website (https://cdle.colorado.gov/fraud-prevention) also outlines other important steps that employees who are victims of UI fraud should take.

Please feel free to share this with your employees.

With the rise in unemployment insurance claims associated with COVID-19, nationally there has been a rise in fraudulent claims and other instances of fraud. If you receive a Reliacard debit card or other paperwork from CDLE and have not filed a claim, report it to us via the form below and follow th...

03/20/2020

Treasury Secretary Steven Mnuchin tweeted Friday that President Trump has directed him to move Tax Day to July 15, giving taxpayers more time to file their taxes in the midst of the coronavirus pandemic.

“At ’s direction, we are moving Tax Day from April 15 to July 15,” said Mnuchin (pictured). “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”

Steven Mnuchin
✔

At ’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.

13.7K
8:04 AM - Mar 20, 2020
Twitter Ads info and privacy
8,401 people are talking about this

03/19/2020

Relief Package Signed Into Law – More to Come

The Families First Coronavirus Response Act (H.R. 6201) is now law, and attorneys, accountants and other professionals are poring over it. What are its main provisions, and how might it affect you?
The Society for Human Resource Management and other outlets have highlighted the following provisions:
Paid family leave. The law provides 12 weeks of qualifying family and medical leave at two-thirds of their salary when employees can't work because their minor child's school or child care service is closed due to a public health emergency. Those on the payroll for at least 30 calendar days are eligible. Benefits are capped at $200 a day (or $10,000 total) and expire at the end of the year.
Paid sick leave. Employers have to provide 80 hours of paid-sick-leave benefits in various scenarios, including a situation in which an employee has been ordered by the government to quarantine or isolate or has been advised by a health care provider to self-quarantine. The payment is capped at $511 a day and expires at year-end.
Covered employers that are required to offer emergency FMLA or paid sick leave are eligible for refundable tax credits. Employers with fewer than 50 workers can apply for an exemption from providing paid family and medical leave and paid sick leave if it "would jeopardize the viability of the business." According to the SHRM, "Gig-workers and other self-employed workers will be eligible for a tax credit to cover the benefits."
A notable exemption is companies with more than 500 employees. The thinking on Capitol Hill was that such companies are capable of providing benefits without direct government help.
Part-time workers. They are also covered. According to the New York Times, such employees will receive the amount they typically earn in a two-week period. The self-employed — from freelance writers to Uber drivers — "should calculate their average daily self-employment income for the year, then claim the amount they take as a tax credit (they can reduce their estimated quarterly tax payments in the meantime)."
Is everyone getting a check?
There are a lot of rumors floating around about everyone getting a relief check. The government is still working on who gets a check and how much — and how to get the money to everyone who is eligible. As these proposals take a more solid form, we'll have more details.
For now, keep in mind that the legal situation can change as quickly as the health situation, and ruling and reinterpretations of laws can change suddenly, modifying the advice in this article. We'll be keeping an eye on authoritative sources in the coming days.

Copyright 2019

12/12/2019

Good laugh

08/24/2019

01/06/2017

Agtax, Inc was established in the summer of 1981. Over the past 35 years our firm has continually changed with the times. Never stagnant, we evolve to keep our clients current with technology, tax laws, and the latest business practices.

Our firm is progressing the way we work with businesses. As such, we’re excited to share a change in our firm’s name to FarmHouse CPAs. FarmHouse CPAs is still rooted in the core philosophy of Agtax yet is emblematic of our business becoming a home for individualized CPA services beyond tax services for agricultural enterprises alone. The inspiration for the name FarmHouse comes from the former Coy farmhouse, built in 1876, which our business now calls home.

As we take the next steps in the evolution of our firm, you’ll still enjoy the level of excellence you’ve come to associate with Agtax, Inc. We truly appreciate the trust and confidence you place in us, and we value the relationships we’ve built with you over the years.