The Electronic Federal Tax Payment System – more simply referred to as EFTPS – recently announced their implementation of multi-factor authentication for all EFTPS payments. For those who do not know, EFTPS is a secure, free service from the U.S. Department of Treasury through which federal taxes can be paid. Certain federal taxes, such as […]
Dear Clients: In July 2022, ATLAS began a major software conversion. This transition brought all teams onto the same system, streamlining the way we work with our clients, and each other; as well as enhancing the system to provide clients with a higher level of service, due to the capabilities of the programs being used. […]
We are excited to announce the addition of two new ATLAS locations in Woodland Park and La Jara, Colorado. With this merger, a third office, originating in the North Colorado Springs area, will be moving downtown to join our established Colorado Springs office at 455 E Pikes Peak. Expanding ATLAS’s reach in the Colorado Springs […]
The ATLAS billing policy is designed to be efficient, consistent and transparent for clients. Once the client’s work is completed, ATLAS creates an invoice for the time put into that work, or per an arrangement on an engagement letter. If the work ATLAS does for a client involves a lengthier process or ATLAS is waiting […]
Dear Business Client: With year-end approaching, it is time to start thinking about moves that may help lower your business’s taxes for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could increase corporate tax rates plus the top rates on both business owners’ […]
Dear Clients, With year-end approaching, it is time to start thinking about moves that may help lower your tax bill for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could, among other things, increase top rates on both ordinary income and capital gain […]
Click the link below for a document focused on what you need to know for Year-End Tax Planning for 2021. This includes information for both individuals and business. Please don’t hesitate to contact us with questions or if more information is needed! Click title below to open: Year-End Tax Planning Document 2021-ATLAS
We are excited to announce our newest ATLAS location in Tucson, Arizona! This is an exciting expansion for the ATLAS family of firms, broadening our reach in the southwest. Continue reading about this recent merger in our press announcement below. Metzger, Klawon & Fox PLC Announces Merger with ATLAS CPAs & Advisors PLLC an […]
The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic. Below are brief summaries of the key aspects of the tax provisions in ARPA. Provisions Affecting Businesses Payroll tax credits. […]
The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic. Below are brief summaries of the key aspects of the tax provisions in ARPA. Provisions Affecting Individuals Recovery rebate credits […]
The statement of cash flows essentially tells you about cash entering and leaving a business. It’s arguably the most misunderstood and under-appreciated part of a company’s annual report. After all, a business that reports positive net income on its income statements sometimes doesn’t have enough cash in the bank to pay its bills. Reviewing the […]
Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic that has haunted the country for the last year. President Biden is expected to sign the 628-page American Rescue Plan Act (ARPA), which includes $1.9 trillion in funding for individuals, businesses, and state and local governments. The ARPA […]
To help you make sure you don’t miss any important 2021 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. We encourage you to mark […]
We are excited to announce a new ATLAS location has been added along the front range of Colorado. The addition of our Longmont, CO office is an exciting expansion for the ATLAS family of firms. Continue reading about this recent merger in our press release below. Clausen & Associates, P.C. announces merger with ATLAS […]
A new year has arrived and, with it, a fresh 12 months of opportunities to communicate with customers and prospects. Like every year, 2021 brings distinctive marketing trends to the table. The COVID-19 pandemic and resulting economic challenges continue to drive the conversation in most industries. To get more for your marketing dollars, you’ll need […]
As many of you know, the Senate passed a (roughly) $900 billion COVID-19 stimulus deal Monday, December 21, 2020 in the late evening. This includes another round of stimulus checks and benefits for jobless Americans. As we dive further in to the details of the bill, below are initial findings we want you to be […]
As many are aware, Colorado businesses will be subjected to numerous changes the beginning of 2021. This email below outlines changes you should be aware of. Minimum Wage in the state of Colorado will increase to $12.32 on January 1, 2021. The Healthy Families and Workplaces Act (SB 20-205): Starting July 14th, 2020 through December 31, […]
2020 Arizona Tax Credits – Easy Reference Guide (For Arizona State Residents only) Arizona individual taxpayers have the opportunity to redirect state income tax to a variety of Arizona charities through the use of Arizona tax credit contributions. Contributions to certain charities or public schools will not qualify for a federal charitable contribution deduction. Taxpayers […]
2020 YEAR-END INCOME TAX PLANNING FOR BUSINESSES INTRODUCTION It’s that time of year when businesses normally start developing year-end planning strategies. However, there has never been a year quite like 2020. We at ATLAS think it is safe to say that year-end tax planning for 2020 is proving to be the trickiest in recent memory. […]
2020 YEAR-END INCOME TAX PLANNING FOR INDIVIDUALS INTRODUCTION With year-end approaching, this is the time of year we suggest possible year-end tax strategies for our clients. However, there has never been a year quite like 2020. We at ATLAS think it is safe to say that year-end tax planning for 2020 is proving to be […]
We are committed to keeping you up-to-date with news about the Paycheck Protection Program (PPP). On November 18, 2020, the Internal Revenue Service (IRS) issued a Revenue Ruling (2020-27), a Revenue Procedure (2020-51), and added two Frequently Asked Questions (FAQs) which address PPP issues. The Revenue Ruling (Rev. Rul.) and the Revenue Procedure (Rev. Proc.) […]
We are excited to announce three new ATLAS locations have been added to our West Texas territory: Lubbock, Plainview, and Floydada. This is an exciting expansion for the ATLAS family of firms. These offices will operate under the name, CMMS CPAs & Advisors PLLC, which is an ATLAS Navigators LLC firm, and is the name […]
We are excited to announce the addition of a new ATLAS location in Levelland, Texas. The addition of a second Texas office is an exciting development for the ATLAS family of firms. As with its predecessor in Amarillo, our new Levelland location will operate under the firm name, CMMS CPAs & Advisors PLLC, which is an […]
We are excited to announce the addition of a new ATLAS location in Amarillo, Texas. This is an exciting expansion for the ATLAS family of firms. Our new Texas office will operate under the firm name, CMMS CPAs & Advisors PLLC, which is an ATLAS Navigators LLC firm. Continue reading about this recent merger in […]
October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) If you’re finally done filing last year’s return, you might wonder: Which tax records can you toss once you’re done? Now is a […]
As you are well aware, we have been monitoring the Small Business Administration (SBA) for updates concerning the Payroll Protection Program (PPP). Although Congress has not yet acted, yesterday the SBA announced, through its regulatory authority, a new Interim Final Regulation (IFR) making a de minimus exception from the FTE employee reduction for PPP loans less […]
Understandably, everyone is on pins and needles dealing with 2020 events that seem to pour into our consciousness every waking hour. Concerning the Payroll Protection Program (PPP), rumors have been flying about potential legislative modifications. You hear them, we hear them. We want to provide a glimpse into what MIGHT happen, should legislation be passed […]
There’s a bright side to today’s unprecedented market conditions: Agile people may discover opportunities to start new business ventures. Start-ups need a comprehensive business plan, including detailed financial forecasts, to drum up capital from investors and lenders. Entrepreneurs may also use forecasts as yardsticks for evaluating and improving performance over time. However, forecasting can be challenging […]
Although many businesses have had to reduce their workforces because of the COVID-19 pandemic, others are hiring or may start in the weeks or months ahead. A thoughtful onboarding program has become more important than ever in today’s anxious environment of safety concerns and compliance challenges. Crucial opportunity Onboarding refers to “[a formal] process of […]
The sudden shutdown of the economy in March because of the COVID-19 pandemic forced many businesses to rely more heavily on technology. Some companies fared better than others. Many businesses that had been taking an informal approach to IT strategy discovered their systems weren’t as robust and scalable as they’d hoped. Some may have lost […]
Many business owners — particularly those who own smaller companies — spend so much time trying to eliminate weaknesses that they never fully capitalize on their strengths. One way to do so is to identify and explicate your unique selling proposition (USP). Give it some thought In a nutshell, a USP states why customers should […]
Some of our very own ATLAS QuickBooks Advisors have teamed up with the great people at Colorado Free University to offer you classes on how to use QuickBooks for your success! Classes will be taught by ATLAS Team members, Libby Smith, Talena Johnson and Kelli Marincin. More information, class options and registration can be found […]
This video answers several questions we have seen or received in regard to The Paycheck Protection Program and its Loan Forgiveness. This video is presented by ATLAS Managing Partner, Loni Woodley, and Westminster Partner, Fran Coet. For additional details or questions, please do not hesitate to contact us here.
In this video, ATLAS Managing Partner, Loni Woodley, and Westminster Partner, Fran Coet, discuss the Paycheck Protection Program and its Loan Forgiveness. As always we will continue to update you on changes regarding this topic. Check back for updates! Links from video: Slide 3: SBA releases instructions to calculate PPP loan forgiveness Small […]
On Wednesday, June 17, 2020, the SBA came out with the EZ PPP Loan Forgiveness Application Form to streamline the forgiveness process for most business owners. We have seen several tweaks to the Paycheck Protection Program throughout the past weeks including the Paycheck Protection Flexibility Act. This act made changes making PPP loan forgiveness more […]
The U.S. Senate passed the House version of Paycheck Protection Program (PPP) legislation June 3, 2020, tripling the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans. The Senate approval sends the House bill, called the Paycheck Protection Flexibility Act, to President Donald […]
This video from our Managing Partner, Loni Woodley, and Partner in Westminster, CO, Fran Coet, discusses post-pandemic survival skills to help small to medium sized businesses recover. We will continuously update information regarding this topic with notes here. Check back for updates and, as always, send your questions to us via our contact us […]
May is Disability Insurance Awareness Month. Here are some facts our ATLAS Risk Management Group (RMG) thought you may want to consider and may surprise you: QUICK FACTS Just over 1 in 4 of today’s 20 year-olds will become disabled before they reach retirement age. 70% of American employees live from paycheck to paycheck, without enough […]
Ransomware is a profitable market for cybercriminals and can be difficult to stop. Prevention is the most important aspect of protecting your personal data. To deter cybercriminals and help protect yourself from a ransomware attack, keep in mind these 7 dos and don’ts from our ATLAS IT Services Team. 1. Do use security software. To help […]
The legislation in the Coronavirus Aid, Relief, and Economic Security (CARES) Act includes policy changes that impact Individual Retirement Accounts (IRA) owners and Required Minimum Distributions (RMDs) for the 2020 calendar year. Those of you who are retirement account owners can use relief offered through the CARES Act by suspending 2020 RMDs that are not […]
Video recorded 4/23/2020 This video answers several questions we have received regarding Loan Forgiveness with a Paycheck Protection Program loan. If you feel your question was not answered or have additional questions, please do not hesitate to contact us here. As you may have heard, an additional Coronavirus Relief package providing more funding for SBA loans […]
We wanted to provide you with additional information and clarification when it comes to the Paycheck Protection Program (PPP) Loan Forgiveness. If you have additional questions, please do not hesitate to reach out to your ATLAS office or contact us here. Things to Know About the Loan Forgiveness: Forgiveness is equal to the amount of qualifying […]
Is Your Technology Protected? Today, many people are working remotely – whether that is due to COVID19 or just regular operations for your organization. Remote users use various devices to access and use critical data while not physically at the organization’s facility. Providing employees remote access is necessary today. But it comes with a big […]
The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). We will continue […]
Recorded 4/7/2020 This video answers additional questions and hopefully provides some clarity to the Paycheck Protection Program regarding SBA loans. As you know, this situation is fluid and guidance from the government agencies involved continues to come out. We will continue to post updates on this page and get you the newest information as soon […]
We hope this video answers your questions we received about the CARES Act, FFCRA and SBA loans for businesses. **Please note: When this was prepared, we were waiting on final specifics. Some of those specifics have been issued since the recording of this video. We will add updates continuously on this page. Check back for updates […]
Please enjoy the first of several videos we will be providing on your most frequently asked questions on the CARES Act, FFCRA and other legislation in response to COVID-19. We know this is a confusing and difficult time for people so we hoped to gather as much information as possible to answer your questions […]
Updated: 4/6/2020 Loan applications have opened through banks to provide SBA PPP loans. While each bank has a slightly different list of items they need to get the application process started, we are happy to help you with the process. Contact us here to be contacted by our SBA PPP loan assistance team. One Update […]
Information on the CARES Act – Passed by The Senate March 25, 2020. Passed by the House and signed by The President March 27, 2020. Updated 3/27/2020 As of March 27, 2020, the Senate and House have passed the $2 trillion “Phase Three” COVID-19 economic stabilization package, H.R. 748, the ‘Coronavirus Aid, Relief, and […]
The IRS has unveiled a People First Initiative to provide immediate relief to taxpayers. The IRS has initiated several steps to help those who are dealing with tax liabilities and other tax issues in these uncertain and difficult times. This is the first time in a long time we have seen the IRS go to this […]
Updated 3/26/2020 In response to the adjustments employees and employers are continuing to make because of COVID-19, the Department of Labor has put out information about Employee Rights under the new Families First Coronavirus Response Act (FFCRA). Below is a link to that information. https://www.dol.gov/sites/dolgov/files/WHD/posters/FFCRA_Poster_WH1422_Non-Federal.pdf This poster details requirements and qualifications around employers providing employees with […]
Dear Clients, In recent news, the IRS and the President have issued statements confirming the extension of the federal tax filing deadline to July 15, 2020. The first communication came this morning in a tweet from the Secretary of the Treasury. Additional information can be found here: https://www.accountingtoday.com/news/trump-moves-tax-day-to-july-15-because-of-coronavirus You can also read the passed bill here: […]
Dear Clients and Friends, Amid the outbreak of COVID-19, we’re taking measures to maintain the highest possible level of client service while protecting our team members and you. We are continuing to monitor updates and news surrounding COVID-19 and have taken the following measures to mitigate risks and keep everyone safe. Please read the changes happening […]
We will continue to update information on SBA Disaster Assistance that comes out. Please scroll through this page to see past updates on this subject. Most recent news will be at the top! An Update as of 3/23/2020: Dear Clients, As you may have heard, lawmakers are working on a relief bill in response […]
Construction contractors, professional service firms, specialty manufacturers and other companies that work on large projects often struggle with job costing. Full cost allocations are essential to gauging whether you’re making money on each job. But some companies simply lump indirect job costs into overhead or fail to use meaningful cost drivers, thereby skewing their profit […]
Finding the right person to head up your company’s finance and accounting department can be challenging in today’s tight labor market. While it may be tempting to simply promote an existing employee, external candidates may offer fresh ideas and skills that take your financial reporting to the next level. Here are four traits to put […]
Most business owners would probably agree that, when it comes to sales, there’s always room for improvement. To this end, every company should strive for organic sales growth — that is, increases from existing operations unrelated to a merger or acquisition. That’s not to say a merger or acquisition is necessarily a bad idea, but […]
The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to strengthen your business for the new year by doing a little of both: 1. Compare […]
If you were to look up “Tax Planning”, the definition would be: Tax planning is the analysis of a financial situation or plan from a tax perspective. The purpose of tax planning is to ensure tax efficiency. Through tax planning, all elements of the financial plan work together in the most tax-efficient manner possible. Tax […]
Why do people leave their jobs? The number one reason: they don’t like their leadership. Please don’t leave companies, they leave people. Why? Because a lot of leadership doesn’t know how to lead. Power and influence don’t work for everyone. If you want to test a person’s character, give them power. The first thing to […]
Press Release Announcing Kelli Berardi, CPA as Partner can be read below! ATLAS CPAs & Advisors PLLC (ATLAS), a regional tax, accounting and consulting firm with locations across Arizona, Colorado, Iowa and Illinois, has recently promoted Kelli Berardi, CPA to Partner. Berardi has served from the Northwest Phoenix location of ATLAS for over 6 […]
Would you like to know the secret of learning? First, we have to have an open mind. This is an attitude shift. The key is having a childlike attitude. What do we mean by that? Children are simple (and incredible) characters. They are curious therefore teachable. They do not have any false pretenses, so they […]
ATLAS Press Release ATLAS CPAs & Advisors PLLC (ATLAS), a regional tax, accounting and consulting firm with locations across Arizona, Colorado, Iowa and Illinois, has recently promoted Brooke Greve, CPA to Partner. Greve has served at the Englewood (Denver Tech Center- DTC) location of ATLAS for over two years as Manager. She has served clients […]
ATLAS Press Release: ATLAS CPAs & Advisors PLLC (ATLAS), a regional tax, accounting and consulting firm with locations across Arizona, Colorado, Iowa and Illinois, has recently promoted Everlene Romero, CPA to Senior Manager. Romero has served at the Northwest Phoenix location of ATLAS for over 11years as Manager. She has served clients from all locations […]
Canyon Financial Services, LLC Announces Merger with ATLAS CPAs & Advisors PLLC A local business valuation, litigation and consulting firm, previously known as Canyon Financial Services (CFS), has recently announced its merger with ATLAS CPAs & Advisors PLLC, an accounting, tax and consulting firm with locations across Colorado, Arizona, Iowa and Illinois. ATLAS CPAs & […]
ATLAS CPAs & Advisors PLLC Announces New Partner, Gautam Gupta ATLAS CPAs & Advisors PLLC (ATLAS), a regional tax, accounting and consulting firm with locations across Arizona, Colorado, Iowa and Illinois, has recently promoted Gautam Gupta, CPA to Partner. Gupta has served at the Northwest Phoenix location of ATLAS for over 8 years as Manager. […]
As Congress and the IRS continue to more clearly define the New Tax Act we will attempt to keep you informed. Recently they defined the rules around rental properties. For 2018 and beyond, rental property owners (Individuals, Partnerships, Trusts and S Corporations) can qualify for the 199A deduction if certain qualifications are met: • Must […]
New information on S-Corps and Personal Vehicles Health Insurance premiums paid on behalf of a >2% shareholder-employee are deductible by the S-Corporation and reportable as wages on the shareholder-employees’ Form W-2, included in boxes 1, 14 and 16. It is also required by the IRS that we include a line on your W-2 for amounts […]
Why Tax Planning is So Important Now Tax Planning is more important than ever before. The IRS just enacted the largest changes in the past 30 years. While the federal income tax regulations are now more complicated than ever, the benefits of strategic tax planning are more valuable than ever before. What is Tax […]
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Cybersecurity is important and ever-changing. Major data breaches are a common topic in news today. It is estimated that $150 billion is lost annually by businesses of all sizes due to data and identity theft.(1) Only 1 in 4 organizations feel they are highly immune to cyberattacks.(2) The best way to prevent a cybersecurity attack is […]
And why are we hearing so much more about it now? Artificial Intelligence (AI) is BIG. In fact, it will soon be the biggest thing since the Internet itself. But what is it, exactly? The simplest explanation is that it’s our ever-improving ability to make digital technology – computers – approximate the functionality and capability […]
How to Create A Crisis Management & Response Plan Creating a crisis management response plan is something most organizations don’t want to think about. Numerous studies also confirm that only about half of all organizations have any kind of crisis plan in place. Make sure your company is prepared. If your company is one of […]
The Importance of Employee Recognition for Business Performance Did you know that organizations with formal recognition programs have 31% less voluntary turnover than organizations that don’t have any program at all? And they’re 12X more likely to have strong business outcomes. Do you know what motivates employees, the benefits (and costs) of employee recognition, and […]
What Should Employers and HR Professionals Know About Tax Reform? On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act—the most substantial reform of the U.S. tax code in over 30 years. This new law, which went into effect on January 1, carries significant changes to both individual and business […]
The world of Human Resources is constantly evolving, and each new year ushers in new laws and trends that impact the workplace. For employers and HR professionals, it is crucial to keep abreast of these changes and understand how they affect an organization’s ability to build and manage a successful workforce. Several trends defined HR […]
Performance reviews are dead, or so we have been told. The data shows a shrinking support for the traditional method: only 15% of companies have not adjusted their annual performance management process and do not plan to. But the data from our Performance Management, Culture, and Business Results study shed a different light on the […]
President Trump has laid out four principles for tax reform: First, make the tax code simple, fair and easy to understand. Second, give American workers a pay raise by allowing them to keep more of their hard-earned paychecks. Third, make America the jobs magnet of the world by leveling the playing field for American businesses […]
President Trump on Wednesday began an ambitious push to slash taxes and salvage what remains of his embattled legislative agenda in Congress this year, proposing a politically challenging array of tax cuts for individuals and businesses that would constitute the most sweeping changes to the federal tax code in decades. Read the full NY Times […]
By now you have probably heard about one of the largest data breaches in US history – the Equifax data breach. If you have a credit report, there is a good chance that you are one of the 143 million American consumers whose sensitive personal information was exposed. As a client of ATLAS CPAs & […]
Electronic Documents and Record Retention A frequent question that we receive from clients with Colorado businesses is what are the federal and Colorado rules related to record retention and electronic document storage and retrieval? Federal law states that all taxpayers subject to income tax must keep books and records that are sufficient to establish […]
Year End Tax Planning with Fixed Assets As 2015 comes ever closer to an end, it is time to consider your tax planning options for the remainder of the year. One aspect of tax planning for a business is how to account for fixed asset purchases in the most tax efficient manner. There are several […]
Like individuals, businesses might want to tackle these finance-related projects early in 2015: 1. Renegotiate your lease. You may be overpaying rent if you signed your lease five (or more) years ago. If your current landlord isn’t willing to renegotiate the lease terms, consider switching to another location with lower rent, more usable space or […]
There is a large amount of data available to help you more effectively manage and grow your business. But, how do you know which numbers to crunch, and what the data is telling you? While it’s true that the importance of certain financial metrics will vary depending on your industry, there are three important financial […]