Denver Metro Accounting and Business Planning Services

Your personal and business finances are more than just numbers. They represent an immense amount of your time, energy and discipline.

With our various services, you will see a clear picture of your finances and what you can do to improve your financial position. Our experience with individuals and businesses has helped us take an individualized approach for our clients to succeed in their financial goals.

About Mihoda & Company

Mihoda is a well-established CPA firm specializing in personalized service. We strive to acquire extensive knowledge of each client's entire financial situation—investments, retirement, and much more. Though we are located in metro Denver, we work with many companies outside of Colorado.

Our in-depth knowledge allows us to assist you in adopting the best accounting procedures and methods for your particular operations. We can also anticipate and solve potential problems before they materialize.


Tax Tip

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November 30, 2011

Home Office

Tax considerations for telecommuting employees
The ranks of employees who telecommute full- or part-time out of their homes, instead of going into the office each day, have swelled for a variety of reasons. Telecommuting can cut costs if office space is short, or help employees balance their personal and professional lives. And in the wake of the 9/11/01 attacks, telecommuting can figure into corporate contingency planning: having some key operations employees work off-site on a regular basis makes the enterprise less vulnerable to potential disruptions.

February 01, 2011

Various IRA's

Overview of various types of IRAs available
At one time, there was relatively little confusion about IRAs because there was only one type available. Now, however, IRAs have proliferated—there's the “traditional” IRA, which may be funded with deductible and/or nondeductible contributions, Roth IRA, SEP-IRA, and SIMPLE IRA. Some of these IRAs have similar features, but others have features that are unique.
What do all these IRAs have in common? They can help you and your family save significant amounts for retirement on a tax-favored basis. Here's an overview of the different types of IRAs available today.

February 01, 2011

Incentive Stock Options

Incentive stock options (ISOs)
You may wonder about the tax consequences to you of your company's offer to grant you an incentive stock option (ISO) on its stock. Let’s say the ISO gives you the right to buy 1,000 shares of the company's stock at its fair market value (FMV) at the time of the ISO's grant, which is expected to be about $100 per share, for a five-year period following the grant (it could be a 10-year period if you owned less than 10% of the company's stock).
The grant of the ISO to you won't be taxable. If you later exercise the ISO, you won't be subject to regular income tax as a result of the exercise. For example, if the market value of the stock goes to $150 per share and you exercise the option and buy the 1,000 shares with a market value of $150,000 for the $100,000 option price, you won't owe any regular income tax on your $50,000 bargain purchase. However, you may be subject to the alternative minimum tax (AMT), as discussed below

December 28, 2010
  • Serbia Warns Businesses On Non-Compliance Penalties Serbia's Tax Administration has issued a statement warning businesses to comply with tax rules relating to record-keeping and engaging workers, or else face heavy fines and trading suspensions of up to 60 days.
  • Mongolia, Japan Ink Free Trade Deal Following a meeting in Tokyo between the Japanese Prime Minister Shinzo Abe and Mongolia's President Tsakhiagiin Elbegdorj, it has been announced that their two countries have reached an agreement on the substance of a bilateral free trade agreement.
  • IRS Having Difficulties Auditing Large Partnerships After being asked to study the challenges large partnerships pose for the Internal Revenue Service, and present its findings before the United States Senate Permanent Subcommittee on Investigations, the Government Accountability Office has shown that the agency audited only 0.8 percent of such entities in the 2012 fiscal year, compared to 27.1 percent for large corporations.
  • US Tax Code Hearing Centers On Corporate Inversions While there was mention of such problems as base erosion and profit shifting, and of the merits of territorial against worldwide taxation, the overriding issue during the Senate Finance Committee's July 22 hearing on the United States international tax code, was, as expected, how and when to stop the rising trend of "corporate inversions."
  • US Senate Bill Lumps Online Sales Tax With Internet Moratorium With the United States House of Representatives having recently passed the Permanent Internet Tax Freedom Act that would permanently extend a moratorium on internet access taxation, but with the more controversial Marketplace Fairness Act, which would allow states to impose sales taxes on online purchases, stuck in its Judiciary Committee, certain lawmakers have had the idea of linking the two into one bill in the Senate.
  • Irish Pharmaceutical Firm Shire In USD55bn Merger US-based pharmaceuticals giant AbbVie plans to merge with the Dublin-headquartered Shire in a USD55bn deal that is expected to reduce the group's effective tax rate to 13 percent.
  • Canada Revenue Agency Under Fire For Charity Audits The New Democratic Party has called for an independent external investigation into allegations of intimidation and political interference in the targeted audits of charities undertaken by the Canada Revenue Agency.
  • South African Tax Authority Tasked For 2014/15 Within his speech to parliament during the Budget Vote on July 21, South Africa's Deputy Minister of Finance, Mcebisi Hubert Jonas, explained the National Treasury's take on the strategic work expected from the South African Revenue Service and the Financial Intelligence Centre during the 2014/15 fiscal year.