While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to launch new businesses. For example, some businesses are being launched online to provide products and services to people staying at home. Entrepreneurs often don’t know that many expenses incurred by start-ups can’t
You may have good intentions in keeping a trust a secret from its beneficiaries. Perhaps you have concerns that, if your children or other beneficiaries know about the trust, they might set aside educational or career pursuits. Be aware, however, that the law in many states forbids this practice by
Outsourcing may appeal to organizations that are currently struggling with mounting overhead costs. By outsourcing, you convert certain fixed overhead costs associated with compensating and supporting employees into variable costs that can be scaled back in an economic downturn — or dialed up in times of growth and transition. One
Traditionally, spring and summer are popular times for selling a home. The COVID-19 crisis has resulted in a temporary slowdown in sales in some markets. The National Association of Realtors (NAR) reports that existing home sales in April decreased year-over-year, 17.2% from a year ago. One bit of good news
If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should carefully record your expenses in order to claim the full amount of the tax deductions to which you’re entitled. And you
The Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain “coronavirus-related distributions” from their retirement plans without paying tax. So how do you qualify for a coronavirus-related distribution? The Early Distribution Basics In general, if you withdraw money from an IRA or eligible retirement plan
Most of us go through life thinking we have time to plan for things that will happen in our later years. Unfortunately, we and those we love may receive unexpected news of a terminal illness and a shortened life expectancy. For those whose life expectancies are short, estate planning can
Rental properties can be a great way to receive extra income. However, landlords have many responsibilities and one is ensuring you are recording and reporting your rental income and expenses correctly. Here are a few tips:
For business owners, succession planning is ideally a long-term project. You want to begin laying out a smooth ownership transition, and perhaps grooming a successor, years in advance. And you shouldn’t officially hand over the reins until many minute details have been checked and rechecked. Unfortunately, things don't always work
DWC wishes to congratulate and thank Duane Antes for 35-years of serving our clients! Duane is a principal and shareholder in our Glenwood Springs office. We truly appreciate the fun and laughs he brings to our team. There's never a dull moment with Duane, especially during "kid" season (Duane and
