6 Most Overlooked Tax Deductions for Small Business

6 Most Overlooked Tax Deductions for Small Business

It’s tax time, and one thing is certain. We all want to pay as little as possible in taxes and maximize our tax deductions. Most business owners are familiar with all of the standard business deductions, but there are a few deductions that are often missed. Before filing your tax returns this year, make sure you and your accountant have not missed any of these most overlooked tax deductions if you are eligible for any of them.   Social Security Taxes If you’re self-employed, you are required to pay the... Read More

Workers’ Compensation in Colorado: What You Need to Know

Workers' Compensation in Colorado What You Need to Know

Workers’ Compensation insurance is an insurance system that provides medical benefits and monetary compensation to assist employees who become injured or ill as a result of their jobs. The Workers’ Compensation Act of Colorado (WCAC) defines employer responsibilities for the state’s workers’ compensation program. Compliance with this act is monitored by the Division of Workers’ Compensation (DWC), part of the Colorado Department of Labor and Employment. One of the purposes of the workers’ compensation system is to reduce the risk of litigation when work-related injuries and illnesses result in employee... Read More

Workplace Safety Needs to Address More than Accidents

Workplace Safety Needs to Address More than Accidents

Workplace injuries are a significant risk for any business. They can lead to lost productivity, costly medical bills and increased insurance premiums. While most businesses have protocols and programs in place to help reduce workplace accidents, but there is another type of workplace injury that may be just as costly as accidents, if not addressed. Work-related musculoskeletal disorders (WMSDs) are not injuries caused by accidents, but instead from job conditions or activities that lead to or contribute to these conditions. Workplace safety programs need to address more than accidents and... Read More

New Standards Announced for Employing Unpaid Interns

New Standards Announced for Employing Unpaid Interns

The payment of interns has been a much-debated and often-confusing topic recently. The standards for determining whether internships needed to be paid or unpaid have undergone some major changes over the last several years, and have left many employers—and interns—confused about employing unpaid interns. To clarify the situation, the U.S. Department of Labor (DOL) announced on January 5, 2018, that it would adopt a new standard for determining whether interns and students are “employees” who must be paid under the Fair Labor Standards Act (FLSA). The DOL clarified that, going... Read More

How to Protect Your Business Against a Flu Epidemic

How to Protect Your Business Against a Flu Epidemic

2018 marks the 100th anniversary of the great Spanish Flu pandemic of 1918, which is believed to have caused the deaths of more than 50 million people. A pandemic is a global outbreak of a disease, such as influenza. According to the World Health Organization (WHO), past influenza pandemics have led to high levels of illness, death, social disruption and economic loss. The 2009 H1N1 influenza pandemic, which affected 213 different countries and has led to over 18,000 confirmed deaths, is just a small example of the potential impact of... Read More

How Key-Person Life Insurance Fits in a Business Succession Plan

How Key-Person Life Insurance Fits in a Business Succession Plan

A buy-sell agreement is a contract among business owners which, upon the death of one of the owners, requires the remaining owners or the company itself to purchase the deceased’s interest in the company according to the agreed upon terms of the contract. In addition, the deceased’s heirs are required to comply by selling their inherited interest at the previously agreed-upon price. Although there are other options for funding a buy-sell agreement, the smartest method for doing so is through life insurance, most often a key-person life insurance policy. This... Read More

Protect Your Home and Health From Radon

protect your home and health from radon

Though you cannot see, smell or taste radon, it can still be present in your home. According to the U.S. Environmental Protection Agency (EPA), when you breathe radon-contaminated air, you increase your risk of developing lung cancer. In fact, the U.S. Surgeon General warns that radon is the second-leading cause of lung cancer in this country next to smoking. This problem is not isolated to one geographic area or to a certain type of house. It is estimated that nearly one out of every 15 homes in the United States... Read More

How Key-Person Life Insurance Can Protect Your Business

How Key-Person Life Insurance Can Protect Your Business

Jeff Moses, president of Auto Custom Carpets, was on his way home from a business trip in Ohio when tragedy struck. The small airplane he was riding in lost control and crashed into a creek near Talladega, Ala. The plane exploded upon impact, killing everyone on board. Jeff Moses’ death left a huge void in the company’s leadership team. Not only was Moses the president and co-owner of Auto Custom Carpets, he was also a charismatic sales leader whose product knowledge and extensive industry experience were integral to the company’s... Read More

How to Work Safely in Cold Weather

How to Work Safely in Cold Weather

Winter has officially arrived in Colorado and with it, freezing temperatures and snow. Winter weather brings with it significant health risks, especially for those who may need to work outdoors in cold weather. Among those risks are hypothermia, frostbite, dehydration and muscle injuries. Frigid temperatures can also cause additional pain for those who suffer from arthritis and rheumatism. To prevent injuries and illness as a result of winter weather, it’s important to learn about the causes, symptoms and safety considerations to take so you are prepared to handle winter’s worst.... Read More

Why You Need Cyber Liability Insurance

Why You Need Cyber Liability Insurance

One of the biggest stories of the 2013 holiday shopping season had nothing to do with the hottest toys or the increased reliance on online shopping: Hackers infiltrated Target’s point-of-sale system in December and gained access to the credit and debit card information of 40 million customers and the personal information of 70 million more. Fortunately, the Minnesota-based chain had over $100 million of cyber liability insurance, according to sources.   As technology becomes increasingly important for successful business operations, the value of a strong cyber liability insurance policy will... Read More