Aspen Advising & CPAs

09/24/2021

We are approaching the final weeks before the tax deadline of Oct. 15th. If you haven't filed, get your tax info to your accountant ASAP!! CPA's need time for any back/forth questioning or concerns regarding your 1040. Don't wait until the last bitter moment! Help us help you! Be proactive and get it done!

07/15/2021

Here is some clarification regarding the question that everyone answered/will answer on a tax return "Whether at any time during (tax year), I received, sold, sent, exchanged, or otherwise acquired any financial interest in any virtual currency".

Check yes if...

-The receipt or transfer of virtual currency(VC) for free(including an airdrop or hard fork)
-An exchange of VC for goods and services
-A sale of VC
-An exchange of VC for other property (including other VC)
-A disposition of a financial interest in VC

Check no if...

-Merely holding virtual currency in a wallet or account
-Transferring virtual currency from one wallet or account you own or control to another that you own or control
-If your only transactions was purchasing virtual currency with real currency you are not required to answer yes

07/02/2021

Hope everyone has an awesome holiday weekend! We will be out of the office until Tuesday July 6th. Leave the office a voice message or email us for any questions. We will get back to you next week. Have fun and be safe!!
🎆🎇🎆🎇

06/02/2021

Congratulations to our very own tax accountant Becky Sheppard for receiving an outstanding accounting student award from Metro State! Becky just finished all parts of her CPA exam and will soon be an accredited CPA herself! She has been an amazing asset to our team, and we are thrilled with what she has accomplished so far!

02/02/2021

Trying to contact the IRS? Getting nowhere? Can't find any suitable numbers to actually talk to someone? Try these numbers if you haven't already!! There's a number for about every situation!

02/01/2021

Have a Home Office? Which method works best for you? Easy, use this deduction calculator courtesy of the Bradford tax Institute!

01/29/2021

This tax season is lining up to be a long one! Prepare early and start gathering your tax documents!

The IRS announced that it will start accepting 2020 tax returns on Feb. 12, a later date than usual. The delay stems from programming changes needed to account for year-end tax legislation.

01/28/2021

New info regarding the PPP!
New deadline: March 31, 2021

Basis: First-come first-serve

PPP Use: If 60%+ of monies received from PPP is used for payroll you will get 100% loan forgiveness

Other covered expenses: Rent, interest on mortgage obligations, utilities plus more...

01/27/2021

Feb. 12, 2021: IRS Opens (Begin accepting/processing returns)
Feb. 22nd, 2021: Where Is My Refund Tool Update
Early March: Tax Refunds reach majority (hopefully)
April 15th 2021: Filing Deadline (Could be pushed back like last year)

The IRS announced that tax season will start on Friday, Feb. 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. Taxpayers can work with tax professionals and start filing returns; however, tax returns won’t be transmitted to the IRS until Feb. 12. April 15, 20...