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The Colorado Society of Enrolled Agents!

Update on CoSEA dues deductability...

Earlier in the year we posted a notice here and sent an email indicating that the organizations 2013 annual dues of $35 would not be deductable as a business expense as usual. This was because a significant portion of those dues would be used for lobbying to get the Colorado Uniform Debt Management Services Act amended. This amendment was to allow Enrolled Agents the same treatment as CPA's and attorneys with respect to the provision of debt management services to our clients.

The rules stated that we must provide that notice prior to incurring the costs. Once the ball was rolling, NAEA contributed a generous grant for the lobbying and specific costs to CoSEA were below the threshold eliminating the deductability. So, it's with pleasure we're informing you that our 2013 CoSEA dues will once again be fully deductable.

NAEA Phone Numbers: 202-822-6232 or toll free at 855-880-6232

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CoSEA Mission:

• Advocate taxpayer rights through professional and ethical representation.
• Promote the recognition of the role of Enrolled Agents as "America's Tax Experts".
• Support and enhance the professional growth of our members.

Colorado Society of Enrolled Agents is a professional membership organization dedicated to representing, promoting and enhancing the Enrolled Agent profession.  Enrolled Agents are equipped to handle the most complex tax returns for individuals, partnerships, corporations and LLCs, and are nationally enrolled to represent tax payers before all administrative levels of the Internal Revenue Service.

Enrolled Agents provide much more than just tax preparation. They are on your side for audits and tax problems. Many provide tax planning, well before the tax return is to be filed. Some provide guidance for new business startups and business consulting. Some Enrolled Agents offer bookkeeping, account, payroll services, estate planning, financial planning or investment services.

Foremost, Enrolled Agents are tax specialists. Whether for individual or business income taxes, payroll taxes, sales taxes, personal property or estate taxes, look to an Enrolled Agent for a tax expert!

This site is designed as a resource for taxpayers as well as Enrolled Agents. It is not a substitute for professional assistance, but strives to offer quick reference for common questions.

Quote:

"Knowledge comes, but wisdom lingers." --Alfred, Lord Tennyson (1809-1892), English poet

Fire Disaster Tax Issues

With all the fires and related loss, is it time to brush up on casualty & disaster tax rules in publication 547? Do you have a potential loss related to a business asset that needs attention? Then see this quick and helpful example. Or, do you need to contact the Colorado Department of Revenue about copies of destroyed records or know you will be late with your state filing because of our local disasters? Take a look at this DOR overview.

Have you thought about becoming an Enrolled Agent (EA) to develop your career in taxation and representation? COSEA has solutions to help your professional development. There has never been a better time to becoming an enrolled agent.

How often do your clients ask about record retention requirements? Now might be good time to refresh your record retention memory with a review of the New NAEA retention brochure.