Today’s first speaker was Anna Kay Roche, CPA in Wheat Ridge, CO. Anna
wanted to go over yearend tax strategies and some of
the over looked tax deductions. The yearend tax strategies she covered were
accelerating your expenses – although you cannot prepay some reoccurring
expenses such as interest, rent and lease payments, think about stocking up on
office supplies, postage and other office necessities. Buy or upgrade your
equipment or automobile to claim your Section179 deduction, the rules
surrounding automobiles can be complicated so don’t just assume this deduction
make sure by checking with you tax professional. You can also delay receipt of
income – the law states that if you have the money in your hands – even if you
have not deposited it – it is still income. Hoarding your December collections
and then running it to the bank on the first business day in January is a dead
giveaway to an auditor that you are reporting income in the wrong year. Other
things that Anna wants you to consider – be careful about trying to save income
taxes, you may pay a little one year but then have a major payment the next.
You are better off reporting your income evenly over the years. If you have a
large income bubble you may need for tax planning to minimize the tax burden
for that period. A few of those tax deductions that we all may over look from
tax year to tax are – state sales taxes. There are IRS tax tables that show how
much residents can deduct based on their income and the sales tax rates. If you
purchased an automobile or boat you can add that sales tax you paid to the
amount shown on the IRS table. Another sales tax that often goes unused is for
home building materials – this can be a big ticket item and can make the sales
tax deduction a better deal for you than the income deduction. If you spent
time this year looking for a job – you may be able to itemize some of those
expenses – however only 2% of your adjusted gross income. Some of those
expenses are employment agency fees, cab fare, food, lodging and transportation
if your search takes you away from home overnight, and the costs of printing
your resume or business cards and postage. If that new job forces you to move
you can deduct your moving expenses if you have to move over 50 miles. The last
deduction that Anna spoke to us about was out of pocket charitable deductions –
remember whenever doing something for a charitable organization such as baking
a casserole for an event-all the ingredients are deductible, or if you do a
mailing for your favorite organization-the stamps you purchase are deductible, and
if you give clothing to that local homeless shelter those are deductible as
well. Keep all of your receipts –if your donations are more than 250.00 you
will need to document the receiving agency and document the services you
provided. Keeping all of these items in mind Anna wants us all to be prepared
for the upcoming tax season and if you need help getting a handle on your taxes
give Anna Kay Roche a call!!
Anna Kay Roche, P.C. * Certified Public Accountant * 303.403.0775

Today’s second speaker was Cindi Thordarson of EcoGraphics Printing in
Lakewood, CO.  Although EcoGraphics is in the middle of the Children’s
Hospital Colorado Christmas Card Project, which
keeps their office very busy this time of year. There are other clients that
they are trying very hard to keep up with all of the requests. One request,
Cindi brought with her today to explain the complications of printing three
color envelopes. EcoGraphics is a small commercial shop and have two digital
presses along with two small format single color traditional presses and one –
two color Itek 3985 – which will run 2 color tight registration jobs. The issue
with running multiple colored envelopes is that no two envelopes (kind of like
snowflakes) are not created alike. The machine that creates envelopes moves at
amazing speeds which cuts, folds and glues each envelope – so as each envelope
is folded and glued it may be in the machine crooked or just a slightly
different angle creating a slightly different shape. So, as a printer, Cindi
should know that when trying to run three colors – exact registration on
pre-made envelopes will not work. For this job – well – she forgot… So they are
printing the envelopes the correct way, which is running the envelope unfolded
on an 11 x 17 inch sheet of paper where they can get an exact cut and guarantee
that the sheet will hit in the same spot for the third color. They then send
those sheets to an envelope manufacture here in Denver that will convert
envelopes in small quantities. Not the least expensive way to go but it will
get the exact look the customer is looking for. The rest of her talk Cindi
discussed the design of your logo – in these days you can design just about
anything with the aid of computers. Depending on the needs for your business –
whether you will be using letterhead, envelopes and business cards or just
business cards and a couple advertising pieces – you can get as creative as you
want. Just remember that although digital printing has brought the cost of printing
4 color pieces down, it can still be expensive. Cindi doesn’t want to deter us
from doing 4 color projects just take into consideration the cost and use 4
color for a piece that is going to have the most impact with your clients or potential
clients. If you need a piece that creates impact with your clients give Cindi
at EcoGraphics Printing a call and she will work with you and your budget.

Cindi Thordarson * EcoGraphics Printing
* 303.238.7791 * *