Blog
Understanding The Most Common IRS Notices
For many taxpayers, receiving a letter from the IRS can feel intimidating. The envelope arrives with the IRS seal, and immediately, worry sets in: Did I make a mistake? Am I in trouble? The truth is, IRS notices aren’t uncommon, and most of them can be resolved fairly easily once you
Intrafamily Loans Must Be Handled With Care
Is one of your top estate planning goals to provide your family with financial security at the lowest tax cost? Strategies to consider include making gifts during your lifetime or bequests at death, or creating trusts and naming your loved ones as beneficiaries. You could also make an intrafamily loan.
FAQs About Creating and Optimizing Customer Profiles in QuickBooks
Small business owners might be tempted to rush through setting up customer profiles in QuickBooks® just to get invoices out quickly. But the extra data fields aren’t just busy work. Complete, accurate customer records help you generate more insightful reports, communicate with customers more effectively and save time on bookkeeping
DWC Professional Earns CPA Designation
DWC CPAs and Advisors is pleased to announce that Brooke E. Lewis has recently earned her Certified Public Accountant (CPA) designation and obtained Colorado licensure after successfully passing the Uniform CPA Examination. Established by the American Institute of Certified Public Accountants (AICPA), the Uniform CPA Examination protects the public interest
Colorado Launches New Tax Credit to Reward Stewardship on Farms & Ranches
In 2024, Colorado passed a landmark law aimed at rewarding farmers and ranchers who adopt practices that enhance soil health, conserve water, and promote ecosystem resilience. The Agricultural Stewardship Tax Credit (ASTC), created via HB24-1249, is designed to provide meaningful financial incentives for on-the-ground stewardship across the state. Below is
Run a Business With Your Spouse? You May Encounter Unique Tax Issues
Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The Partnership Issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless you can avoid that treatment. Otherwise, you must file an
A Quiet Trust Has Its Benefits, But An Incentive Trust May Be a Better Option
When it comes to estate planning, one of the more nuanced tools available is a quiet trust (also known as a “silent” trust). Unlike a traditional trust, a quiet trust keeps beneficiaries — often children or young adults — in the dark about its existence or details until they reach a
Building a Better Nonprofit Budget
Does your nonprofit start its budget process from scratch each year or do you mostly make simple adjustments to the previous year’s budget? Either way, if your organization operates on a calendar-year basis, it’s probably time to start thinking about this annual chore. Issues such as reduced grant funding and
Outsourced Payroll, Accounting, Bookkeeping-Sharper with DWC EDGE
At DWC, we are committed to helping your business operate smarter. That is why we have enhanced our bookkeeping, accounting, and payroll services to a value-driven and technology-forward advantage. DWC EDGE provides our clients with a more practical and scalable outsourced accounting and finance solution, specifically designed for small to
The 2025–2026 “High-Low” Per Diem Business Travel Rates Are Here
If you have employees who travel for business, you know how frustrating it can be to manage reimbursements and the accompanying receipts for meals, hotels and incidentals. To make this process easier, consider using the “high-low” per diem method. Instead of tracking every receipt, your business can reimburse employees using