The Treasury Department and the IRS have issued Notice 2021-53, which provides guidance to employers about using Form W-2 to report the amount of qualified sick and family leave wages paid to employees for leave taken in 2021. This is welcome news for many taxpayers, as this guidance covers the Families
Seth Knighton, Senior Tax Accountant Grand Junction Every year, the IRS releases the "Dirty Dozen," a list of tax scams and schemes on which the agency chooses to focus. In the crosshairs this year is the abuse of business tax credits. The IRS explains, "improper claims for the
Chris West, CEO Dalby Wendland is pleased to announce the addition of wealth management services to its suite of client offerings. DWC Wealth Advisors provides comprehensive wealth management services that will help integrate tax, wealth, retirement, and estate planning services for clients. DWC Wealth Advisors has engaged independent
A complete set of financial statements for your business contains three reports. Each serves a different purpose, but ultimately helps stakeholders — including managers, employees, investors and lenders — evaluate a company’s performance. Here’s an overview of each report and a critical question it answers. 1. Income statement: Is the
Employers who could use a federal income tax deduction for 2020 can consider retroactively adopting a broad-based, tax-qualified retirement plan, such as a discretionary profit-sharing plan, cash balance plan or traditional pension plan and making employer contributions before the extended due date of their 2020 income tax return. An employer
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020 through June 2021, the U.S. Census Bureau reports that business applications are up 18.6%. The Bureau measures this by the number of businesses applying for an Employer Identification
No matter the size or shape of a business, one really can’t overstate the importance of sound accounts receivable policies and procedures. Without a strong and steady inflow of cash, even the most wildly successful company will likely stumble and could even collapse. If your collections aren’t as efficient as
Businesses need financial information that’s accurate, relevant and timely. The Securities and Exchange Commission requires publicly traded companies to follow U.S. Generally Accepted Accounting Principles (GAAP), often considered the “gold standard” in financial reporting in the United States. But privately held companies can use simplified alternative accounting methods. What’s right
Congratulations to the following professionals for their recent promotion. Loren Hofer, CPA, to Tax Manager Loren grew up in Jakarta, Indonesia. She moved to Grand Junction in 2001 and became a U.S. Citizen in 2008. Loren graduated from Colorado Mesa University with a B.S. in accounting and computer information systems.
Dalby, Wendland & Co. (DWC) is honored to be recognized by INSIDE Public Accounting (IPA) as a Top 300 Firm. IPA ranks firms nationally by U.S. net revenues, and they are compiled by analyzing the more than 520 responses received this year for IPA’s Survey and Analysis of Firms. This
