Innovative Accounting was honored to receive this year's Best of Broomfield Award for Accounting. We know this would not have been possible without the amazing feedback from our clients and we continue to work hard to earn that positive feedback every day. Thank you to every one who voted for us and we're looking forward to meeting this high level of customer service in 2014 again. Below you'll find some details about the award and what it means to receive it.

Read more ...

For 3 years in a row now Innovative Accounting has received the Best of Broomfield Award for Accounting. We know this would not have been possible without our clients commitment to us and our commitment to them. Thank you to every one who voted for us and we're looking forward to meeting this high level of customer service in 2015 yet again. Click through to find some details about this year's award, our inclusion into the Broomfield Business Hall of Fame, and what it means to for us.

Read more ...

By year's end, Americans usually have a good idea of what the tax rules will look like in the new year and can plan accordingly. That's not the case this time around. With a huge chunk of the tax code set to expire Jan. 1, the 2013 tax forecast is, well, foggy.

"The problem is, if you wait to see what Washington does before you give this any real thought, it might be too late to take any meaningful action," says Dan McNamara, president of USAA Investments.

Instead, you have to know the current tax landscape and what could be coming in 2013 — and you have to understand what each could mean to you. That way, when Congress ultimately takes action — or doesn't — you'll be ready to act.

What to Ask
For a better understanding of how these changes could affect your bottom line, speak with a USAA financial advisor or your tax counselor. Here are some questions to ask:

• How should I adjust my expenses to account for possible increases in taxes?


• If the changes go into effect, does it look like I'll get a refund, or will I have to write a check for taxes in April 2014?


• Have I recognized any taxable capital gains this year?



Read more ...

Chris Russo of Innovative Accounting Solutions has been prestigiously recognized as a Five Star Professional Wealth Manager. This recognition is only given out after a rigorous research process that included a regulatory and consumer complaint review, and an evaluation of objective criteria associated with wealth managers who provide quality services to their clients. The Five Star Professional Award is the largest and most widely published wealth manager award program in North America

Innovative Accounting Solutions is very honored to receive this award. We work hard for our clients every day and believe this recognition is a testament to that fact. As a first-time award recipient in 2012 we'll work even harder to ensure that we continue to receive this same honor year after year by always putting our clients first and working tirelessly to meet and exceed their financial goals.

Please call us today if you're looking for an outstanding Denver Accountant, Tax Professional, or Wealth Manager to help you with your personal and business finances or taxes.

(303) 475-1807

Many business owners and individuals assume their certified public accountant (CPA) and financial planner have interchangeable roles when, in fact, the two complement each other and can very rarely do the entire job of the other person. This is a matter of education, experience, and certification, but is a topic your Denver Accountant can discuss with a high degree of confidence.

What your accountant can do for you

When most people think of accountants, the first things that may come to mind are Denver Taxes and how to minimize them each year. That is perfectly understandable and to be expected, especially with complicated and regularly changing tax codes at the state and federal levels. From strategizing to budgeting to sheltering and tax preparation, taxes are their main focus.
But your denver teacher also can identify big picture opportunities and strategies that will help you get — and stay — ahead of the competition. Your CPA will help ensure you are depreciating all the right assets in the most productive way. Is your business structure good for you now and in the long run? What about the fine print in the most recent tax regulations, and how do they affect you and your business? Your accountant should have a deep understanding of these issues, and experience with similar situations.

Read more ...

The year is halfway through, and if you haven’t got to grips with your Denver Taxes, what are you waiting for? A Denver Accountant can help you manage your finances, and year-end tax preparation, but nothing helps an individual or business succeed more than understanding common tax forms and how they should be filled out. Here is a brief rundown of these forms.

W-2

This is the most common of all forms. Anyone who draws a paycheck from a regular employer can expect to see one of these. The W-2 is an information return used by your employer to report wages or compensation paid to you during the year. The form reports your employer's basic information (name, address and tax identification number) as well as your own information (similarly, name, address and tax identification number). The form contains several boxes where different information is collected (wages, local, state, and federal income taxes withheld, amount of income subject to Social Security and Medicare, and so forth. Keep in mind that you'll receive multiple copies of your W-2. Copy B gets filed with your federal income tax returns, and Copy 2 with your state or local tax returns. You should always keep Copy C for your own records.

Read more ...