Cornbelt Financial, LLC

10/21/2024

With the growing focus on retirement savings, Colorado has implemented the Colorado Secure Savings Program, aimed at expanding access to retirement options for employees without an employer-sponsored plan. This program adds another layer of responsibility for small businesses. Check out Cornbelt Financials better alternative that will add more value and flexibility to stay compliant, and ease the burden and administrative load.

https://www.cornbeltfinancial.com/blog/colorado-secure-savings-program-what-you-need-to-know-a-better-alternative

With the growing focus on retirement savings, Colorado has implemented the Colorado Secure Savings Program , aimed at expanding access to retirement options for employees without an...

10/19/2024

If you have an LLC, incorporated business, or other legal entity, you may be required to report Beneficial Ownership Information (BOI) to FinCEN under the new changes made in 2024 to the Corporate Transparency Act. This new rule is aimed at increasing transparency in corporate ownership and applies to many domestic and foreign businesses operating in the U.S.

Not sure what this means for you? Learn about your BOI reporting requirements and deadlines in our latest blog. Stay compliant and let Cornbelt Financial guide you through the process!

https://www.cornbeltfinancial.com/blog/understanding-the-corporate-transparency-act-new-boi-reporting-requirements-for-business-owners-in-2024

We want to share some crucial information about the Corporate Transparency Act (CTA) and its impact on the reporting of Beneficial Ownership Information (BOI). This new regulation affects a wide...

10/19/2024

❗ Did the Colorado Department of Revenue deny your TABOR refund? Here’s what you need to know! ❗️

Under Colorado’s Taxpayer’s Bill of Rights (TABOR), any excess revenue collected by the state must be refunded to taxpayers—unless voters approve another use. Recently, some eligible taxpayers have had their refund claims denied. If this happened to you, don’t stress! Let Cornbelt Financial review to determine if the denial was accurate and guide you through the TABOR refund for next tax season. For 2025, Colorado collected an excess of $1.4 billion in revenue, which will be refunded to taxpayers. Reach out to us today to learn more!

https://www.cornbeltfinancial.com/blog/colorado-tabor-refund-denied-essential-information-2025-updates-from-the-department-of-revenue

Colorado’s Taxpayer’s Bill of Rights (TABOR) Amendment, passed by voters in 1992, restricts the amount of revenue state and local governments can collect and spend without voter approval. When...

06/21/2024

The accounting industry is drastically shifting as less candidates are taking the CPA exam each year, more CPAs are nearing retirement, and overall there has been a 17% decline in accountants in the U.S. Learn how Cornbelt Financial is taking a number of steps to address these challenges and provide our clients across the country, with continued top notch service.

https://www.cornbeltfinancial.com/blog/state-of-the-accounting-industry-adapting-to-change-and-setting-expectations

03/25/2024

Tax season can be a hectic time for many individuals and businesses alike. If you find yourself needing more time to gather your tax information and file your returns, don't worry – you're not alone. Filing an extension can provide you with the extra time you need to ensure accuracy and compliance with the tax laws. Check out this article for some common questions and answers about filing a tax extension.
https://www.cornbeltfinancial.com/blog/i-need-to-file-a-tax-extension-now-what

Tax season can be a hectic time for many individuals and businesses alike. If you find yourself needing more time to gather your tax information and file your returns, don't worry – you're not...

02/20/2024

Dive into Colorado's Electric Vehicle Tax Credit with our latest blog! Whether you're a resident curious about green initiatives or considering going electric, this guide covers everything you need to know about the state's Innovative Motor Vehicle Credit program. Learn about eligibility, qualifying vehicles, and how it could benefit your taxes. Read now!
https://www.cornbeltfinancial.com/blog/what-you-need-to-know-about-the-colorado-electric-vehicle-tax-credit

Discover the ins and outs of Colorado's Electric Vehicle Tax Credit. Aimed at residents of Colorado, this guide provides a comprehensive overview of the state's Innovative Motor Vehicle Credit...

02/07/2024

If you are not sure how to navigate notices from the IRS, Cornbelt Financial is here to help. Receiving a notice from the IRS or the Department of Revenue can be unsettling, but it's essential to address it promptly and correctly. Read our step-by-step guide on what to do if you find yourself in this situation.
https://www.cornbeltfinancial.com/blog/navigating-irs-notices-what-to-do-and-what-to-avoid

Receiving a notice from the IRS or the Department of Revenue can be unsettling, but it's essential to address it promptly and correctly. Here's a step-by-step guide on what to do if you find yourself...

02/05/2024

Did you know you could be eligible for an electric vehicle tax credit if you purchased one in 2023 or are considering the purchase of a NEW electric vehicle (EV), plug-in hybrid, or fuel cell electric vehicle in 2024? Learn more about the federal income tax credit for these eco-friendly vehicles and how it could be a significant tax incentive.
https://www.cornbeltfinancial.com/blog/navigating-the-federal-electric-vehicle-tax-credit

Are you considering the purchase of a NEW electric vehicle (EV), plug-in hybrid, or fuel cell electric vehicle or did you purchase one in 2023? The federal income tax credit for these eco-friendly...

01/24/2024

Many individuals are discovering a powerful tax strategy that not only supports charitable causes but also unlocks significant tax advantages. Learn more about donating appreciated assets, such as financial assets, artwork, antiques, classic cars, etc.
https://www.cornbeltfinancial.com/blog/unlocking-tax-benefits-donating-appreciated-assets-for-maximum-impact

When it comes to philanthropy, many individuals are discovering a powerful strategy that not only supports charitable causes but also unlocks significant tax advantages. The key lies in donating...

01/16/2024

Looking for additional tax advantages? Employing sophisticated charitable giving techniques can serve as a strategic means to optimize your tax advantages. Learn more about Donor Advised Funds (DAF), Charitable Remainder Trusts (CRT), and Private or Public Foundations.
https://www.cornbeltfinancial.com/blog/mastering-advanced-charitable-giving-a-guide-to-dafs-crts-and-foundations-for-maximum-impact

Employing sophisticated charitable giving techniques can serve as a strategic means to optimize your tax advantages. Presented here is a high-level overview of advanced charitable giving strategies,...