Posted by Administrator Account on 3/26/2015 9:29 AM

Chris West, CPAYou have worked hard, lived below your means and have now accumulated some hard-earned savings.  What is the most effective savings vehicle to use?  Should you fund your IRA, your 401k plan at work or use a Health Savings Account (HSA)?  Most people don’t think about an HSA as an alternative to an IRA or 401k plan, but it should be considered, if anything, as a savings vehicle to use in conjunction with other types of accounts. I will explain why, but first let’s cover a few of the basics of an HSA.


Christopher L. West, CPA
Grand Junction Tax Office

Posted by Administrator Account on 3/24/2015 8:41 AM

Top Colorado Accounting FirmsDalby, Wendland & Co., P.C., was recognized as a Top Colorado Accounting Firm by ColoradoBiz Magazine. Firms are ranked by number of Colorado employees. Dalby Wendland ranked 11th in the state and is the only public accounting firm headquartered in western Colorado. 

In appreciation of the acknowledgement, DWC President Steve Carver said, “Our firm founders, Walt Dalby and Wes Wendland, set the bar early on for the best client service and highest of technical expertise,” says Carver. “We continue to push the bar to help our clients and communities be successful. It is an honor to be recognized as a Top Accounting Firm. We are proud of our communities, our clients, and our team members.”

Posted by Administrator Account on 3/19/2015 8:39 AM

Job Hunting and TaxesMany people change their job in the summer. If you look for a new job in the same line of work, you may be able to deduct some of your job hunting costs.

Here are some key tax facts you should know about if you search for a new job:

  • Same Occupation.  Your expenses must be for a job search in your current line of work. You can’t deduct expenses for a job search in a new occupation.

  • Résumé Costs.  You can deduct the cost of preparing and mailing your résumé.

  • Travel Expenses.  If you travel to look for a new job, you may be able to deduct the cost of the trip. To deduct the cost of the travel to and from the area, the trip must be mainly to look for a new job. You may still be able to deduct some costs if looking for a job is not the main purpose of the trip.

  • Placement Agency. You can deduct some job placement agency fees you pay to look for a job.

  • First Job.  You can’t deduct job search expenses if you’re looking for a job for the first time.

  • Work-Search Break.  You can’t deduct job search expenses if there was a long break between the end of your last job and the time you began looking for a new one.

  • Reimbursed Costs.  Reimbursed expenses are not deductible.

  • Schedule A.  You usually deduct your job search expenses on Schedule A, Itemized Deductions. You’ll claim them as a miscellaneous deduction. You can deduct the total miscellaneous deductions that are more than two percent of your adjusted gross income.

As always, consult your local Dalby Wendland tax professional if you have questions.

Posted by Administrator Account on 3/11/2015 8:21 AM

new business open signStarting your own business can be exciting! In addition to your business plan, you’ll need to consider your federal tax obligations, including income and payroll taxes. Here are five basic tax tips that can help get your business off to a good start.

Posted by Administrator Account on 3/5/2015 11:28 AM
farming and ranching

The IRS defines farming as being in the business of cultivating, operating, or managing a farm for profit, either as owner or tenant. Farms include plantations, ranches, ranges and orchards and farmers may raise livestock, poultry or fish, or grow fruits or vegetables.

If you farm, consider these income and expense points from the IRS for tax time.

Posted by Administrator Account on 3/4/2015 10:27 AM
IRS Scams

As tax season ramps up, the IRS continues to warn taxpayers about phone, phishing, and identity theft scams. As a reminder, be wary of these schemes:

Phone Scams: Taxpayers, including the elderly and new immigrants, receive an aggressive or threatening call demanding they provide payment by credit/debit card or by giving your bank account information. The caller typically threatens the person with arrest, deportation, driver’s license revocation, or other if they don’t pay. To make the call seem more real, the scammer may have personal information like date of birth or the last four digits of the person’s Social Security number. The scammer also disguises their phone number so it looks like it’s coming from the IRS, police, or DMV. Sometimes the scammer will lure in a taxpayer by saying they have a refund coming and will trick you for personal and/or bank information.

Phishing: In this scenario, scammers may send you a fake email and/or direct you to a fake website to pay taxes they say you owe or for you to provide your personal information.

Identity Theft:  Tax time is prime time for fraudulent returns. Scammers will use someone else’s Social Security number to file a fake return and get a refund.

Remember, the IRS will never:

  • Call to demand immediate payment, nor will the agency call about taxes owed without first having mailed you a bill.

  • Use email, text messages or any social media to discuss your personal tax issue involving bills or refunds.

  • Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe.

  • Require you to use a specific payment method for your taxes, such as a prepaid debit card.

  • Ask for credit or debit card numbers over the phone.

  • Threaten to bring in local police or other law-enforcement groups to have you arrested for not paying.

Posted by Administrator Account on 2/25/2015 1:20 PM

IRS auditWhat are your chances of being audited? For individuals, it depends on your income. In fiscal year 2013, returns reporting income of under $200,000 stood a 0.88 percent chance of an audit. Those with incomes of $200,000 and more had a 3.26 percent chance. And if your income was $1 million or more, you had a 10.85 percent chance. While audit rates were generally down in 2013 from the previous couple of years, they're still much higher than in earlier years.

While the IRS isn't about to publish a list, there are a number of items that are known to raise the IRS's interest in a return. In addition to income, here's a list of items some tax preparers believe trigger an audit:

Posted by Administrator Account on 2/18/2015 8:24 AM

Business Records RetentionRecords retention is important for businesses and organizations for many reasons including legal disputes, employee issues, and in the case of audits. You should have an established record retention policy for the retention and destruction of documents and other records you maintain. Below are a few guidelines for keeping important business records:

  • Employee earnings: Maintain for at least four years, to meet various state and federal requirements. (However, don't throw away records that might involve unclaimed property, such as a final paycheck not claimed by a former employee.)
  • Employee time cards: Keep for at least three years if your business is subject to the Fair Labor Standards Act (engaged in interstate commerce). It is a best practice for all businesses to keep the files for several years in case questions arise.
  • Personnel records: Retain three years after an employee has been terminated.
  • Employment tax records: Keep four years from the date the tax was due, or the date it was paid -- whichever is longer.
  • Employee business expenses: For travel and transportation expenses (supported by mileage logs), expense reports, and other receipts, keep supporting documents for the three-year statute of limitations.
  • Sales tax returns: State regulations vary. Colorado is four years.
  • Business property: Records used to substantiate the cost and deductions (such as depreciation, amortization and depletion) associated with business property must be maintained to determine the basis and gain (or loss) on the sale. Keep these for as long as you own the asset, plus seven years, according to IRS guidelines.

When the time comes to destroy sensitive documents, remember to do so safely by shredding them.

Posted by Administrator Account on 2/12/2015 10:24 AM

Michael D. Brooks, CPADalby, Wendland & Co., P.C., in Grand Junction is pleased to announce Michael D. Brooks recently passed the Unified Certified Public Accountant (CPA) Examination, which is set by the American Institute of Certified Public Accountants. The Uniform CPA Examination protects the public interest by helping to ensure that only qualified individuals become licensed as U.S. Certified Public Accountants (CPAs). 

Michael came to the Grand Junction tax team as an intern in January of 2013. After attaining a bachelor’s degree in computer science in 2007 from Colorado Mesa University, he returned to CMU and earned a bachelor’s degree in accounting, graduating in May 2013. He then joined the Firm full time.


As a staff accountant, Michael analyzes financial information; prepares financial reports and schedules; prepares federal and state tax returns for individuals, businesses and other organizations; and he excels at research projects. He is a member of the American Society of CPAs, Colorado Society of CPAs, and enjoys being an active member of Young Professionals Network of Mesa County.

Posted by Administrator Account on 2/11/2015 10:53 AM

Form 1099-C Cancellation of DebtCancellation of all or part of a debt that is secured by property may occur because of a foreclosure, a repossession, a voluntary return of the property to the lender, abandonment of the property, or a principal residence loan modification.

Typically, if you are liable for a debt that is canceled, forgiven, or discharged, you will receive a Form 1099-C, Cancellation of Debt, and you must include the canceled amount in gross income unless you meet an exclusion or exception. If you receive a Form 1099-C but the creditor is continuing to try to collect the debt, the creditor may not have canceled the debt. You should verify with the creditor which arrangement they mean.

Read on to learn more about which debt cancellations/reductions qualify for inclusion or exclusion in your gross income...

Posted by Administrator Account on 2/5/2015 9:37 AM

taxable incomeQ: Which Income Types are Taxable and Nontaxable?

A: All income is taxable… unless the law specifically excludes it.

It is true that some do not pay taxes, however most of us have income from taxable sources such as wages and tips. Taxable income can also include noncash income from property or services (e.g., both parties in a barter exchange must include the fair market value of goods or services received as income on their tax return).

Here are some types of income not taxable except under certain conditions:

  • Life insurance proceeds paid to you are usually not taxable. However, if you redeem a life insurance policy for cash, any amount that is more than the cost of the policy is taxable.
  • Income from a qualified scholarship is normally not taxable. This means that amounts you use for certain costs, such as tuition and required books, are not taxable. However, amounts you use for room and board are taxable.
  • If you got a state or local income tax refund, the amount may be taxable. You should receive a Form 1099-G from the agency that made the payment to you. You should report any taxable refund you got even if you did not receive Form 1099-G.
  • Gifts and inheritances
  • Child support payments
  • Welfare benefits
  • Damage awards for physical injury or sickness
  • Cash rebates from a dealer or manufacturer for an item you buy
  • Reimbursements for qualified adoption expenses

If you are unsure whether a certain income type is taxable, speak with your tax advisor or visit to review Publication 525 for more on this topic.

Posted by Administrator Account on 2/3/2015 10:57 AM

2015 GJ Chamber Banquet

DWC congratulates the 2015 Grand Junction Area Chamber of Commerce Annual Banquet Award Winners: Business of the Year, Knowles Enterprises; Small Business of  the Year, The Trophy Case; Citizen of the Year, Susan Alvillar; Community Visionary, Christy Whitney; and Young Professional of the Year, Heather Benjamin. We also congratulate Diane Schwenke, president and CEO of the GJ Chamber, for her 25 years of service to the chamber. It was an honor to attend the event and celebrate each of your accomplishments with our community business leaders.


Posted by Administrator Account on 1/28/2015 9:13 AM

Melissa Hoaglund, CPASince the implementation of the Affordable Care Act (ACA), many small businesses have been intrigued by the possibility they may be able to discontinue offering group health insurance and instead offer their employees a stipend to purchase individual health insurance policies on their own. However, employers and small business owners need to be aware that implementing such a plan after December 31, 2013, could cause the company to be in violation of the ACA market reform requirements. Such a violation under the ACA could subject the company to penalties equal to $100 per day per employee. Ouch!        

Read on to learn more...

Melissa Hoaglund, CPA
Grand Junction Office

Posted by Administrator Account on 1/20/2015 8:53 AM

FAFSA formMany graduating high school seniors and other college applicants will be applying for federal student aid in the next few months using the Free Application for Federal Student Aid (FAFSA) form.  The 2014 tax year, however, may pose some interesting and complicated income calculation challenges, particularly for business owners, with the implementation of the Tangible Property Regulations and issues yet to be resolved with the Affordable Care Act.

As we await further guidance from the IRS on these issues, it may be beneficial to file for extensions of your 2014 tax returns to ensure you receive the best income tax advantages, avoid penalties and report correct income information on your tax returns and FAFSA form.

   Some points to remember regarding the FAFSA form:

Posted by Administrator Account on 1/14/2015 9:29 AM

Dalby, Wendland & Co., P.C. in Glenwood Springs is pleased to announce Brittany A. Dreher, James P. Heelan, and Gregory M. Ward recently passed the Unified Certified Public Accountant (CPA) Examination, which is set by the American Institute of Certified Public Accountants. DWC would also like to recognize accountant, Brooke A. Mulchin, who passed the exam in early 2014. The Uniform CPA Examination protects the public interest by helping to ensure that only qualified individuals become licensed as U.S. Certified Public Accountants (CPAs). 

The exam consists of four sections and represents 14 hours of testing in auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation. The test is one of four requirements to attain CPA licensure in Colorado – education, ethics discipline, and experience is also needed. To maintain the CPA certification, licensees are required to take annual continuing professional education courses and other opportunities for professional development.

Congratulations to:

Brittany A. Dreher, CPABrittany A. Dreher
Brittany is a senior accountant for Dalby, Wendland & Co. She is a Colorado native and graduated with her accounting degree from Fort Lewis College in Durango with a minor in economics. Brittany specializes in small business and individual federal and multi-state taxation and tax planning. She is active in the Glenwood Springs community as a volunteer in the Junior Achievement Program, teaching classes about financial literacy. She is a member of the Colorado Society of CPAs and American Institute of CPAs.

Brooke A. Mulchin, CPABrooke A. Mulchin

Brooke is a senior tax accountant with Dalby, Wendland & Co. She has a bachelor’s degree in zoology and a master’s degree in accountancy from Colorado State University in Ft. Collins. She is a member of the American Institute of CPAs and Colorado Society of CPAs. As an animal lover, Brooke volunteers with Colorado Animal Rescue.



James P. Heelan, CPAJames P. Heelan
James joined Dalby, Wendland & Co. in January of 2013 after graduating summa cum laude with a bachelor’s degree in accountancy from Western State Colorado University in Gunnison. He is a staff accountant and is a member of the American Institute of CPAs and Colorado Society of CPAs. James supports the Roaring Fork Valley community as a member and board director for local nonprofit, Racing Mules Golf Association.


Gregory M. Ward, CPAGregory M. Ward

Greg is a staff accountant and joined Dalby Wendland in August of 2013. He attended the University of Illinois and attained a bachelor’s degree in accountancy, with highest honors. Greg is a member of the American Institute of CPAs, Colorado Society of CPAs, National Eagle Scout Association, American Mensa, and volunteers his time on weekends at the Habitat for Humanity ReStore.

Posted by Administrator Account on 1/6/2015 9:18 AM

The IRS recently announced annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2014-61 provides details about these annual adjustments.

The tax items for tax year 2015 of greatest interest to most taxpayers include:

Tax Item



Highest tax rate of 39.6 percent

Affects singles whose income exceeds $413,200 ($464,850 for married taxpayers filing a joint return)

Affects singles whose income exceeds $406,750 ($457,600 for married taxpayers filing a joint return)

Standard deduction

$6,300 for singles and married persons filing separate returns and $12,600 for married couples filing jointly. The standard deduction for heads of household rises to $9,250

$6,200 for singles and married persons filing separate returns and $12,400 for married couples filing jointly. The standard deduction for heads of household rises to $9,100.

Limitation for itemized deductions

Begins with incomes of $258,250 or more ($309,900 for married couples filing jointly).

Begins with incomes of $254,200 or more ($305,050 for married couples filing jointly).

Personal exemption



Alternative minimum tax exemption

$53,600 ($83,400, for married couples filing jointly)

$52,800 ($82,100 for married couples filing jointly)

Maximum Earned Income Credit

$6,242 for taxpayers filing jointly who have 3 or more qualifying children.

$6,143 for taxpayers filing jointly who have 3 or more qualifying children.


Decedents who die during 2015 have a basic exclusion amount of $5,430,000.

Decedents who die during 2014 have a basic exclusion amount of $5,340,000.

Gifts to non-U.S. citizen spouse

The exclusion from tax on a gift to a spouse who is not a U.S. citizen is $147,000.

The exclusion from tax on a gift to a spouse who is not a U.S. citizen is $145,000.

Foreign earned income exclusion



Annual exclusion for gifts



Kiddie Tax

The amount used to reduce the net unearned income reported on a child's return that is subject to the Kiddie Tax is $1,050

The amount used to reduce the net unearned income reported on a child's return that is subject to the Kiddie Tax is $1,000.

Flexible spending arrangements (FSAs)

The annual dollar limit on employee contributions to employer-sponsored healthcare FSAs is $2,550.

The annual dollar limit on employee contributions to employer-sponsored healthcare FSAs is $2,500.

Small business health care tax credit

The maximum credit is phased out based on the employer's number of full-time equivalent employees in excess of 10 and the employer's average annual wages in excess of $25,800 for tax year 2015.

The maximum credit is phased out based on the employer's number of full-time equivalent employees in excess of 10 and the employer's average annual wages in excess of $25,400 for tax year 2014.


Information and details about these inflation adjustments, including others not listed above, can be found at in  Revenue Procedure 2014-61. As always, consult with your tax professional for guidance and planning to discuss the least tax burden your situation allows.


Posted by Administrator Account on 12/24/2014 8:23 AM
Posted by Administrator Account on 12/23/2014 1:43 PM

IRA remindersIf you have an IRA or may open one soon, there are some key year-end rules that you should know. Here are the top four reminders on IRAs from the IRS:


1.  Know the limits.  You can contribute up to a maximum of $5,500 ($6,500 if you are age 50 or older) to a traditional or Roth IRA. If you file a joint return, you and your spouse can each contribute to an IRA even if only one of you has taxable compensation. In some cases, you may need to reduce your deduction for traditional IRA contributions. This rule applies if you or your spouse has a retirement plan at work and your income is above a certain level. You have until April 15, 2015, to make an IRA contribution for 2014.

2.  Avoid excess contributions.  If you contribute more than the IRA limits for 2014, you are subject to a six percent tax on the excess amount. The tax applies each year that the excess amounts remain in your account. You can avoid the tax if you withdraw the excess amounts from your account by the due date of your 2014 tax return (including extensions).

3.  Take required distributions.  If you’re at least age 70½, you must take a required minimum distribution, or RMD, from your traditional IRA. You are not required to take a RMD from your Roth IRA. You normally must take your RMD by Dec. 31, 2014. That deadline is April 1, 2015, if you turned 70½ in 2014. If you have more than one traditional IRA, you figure the RMD separately for each IRA. However, you can withdraw the total amount from one or more of them. If you don’t take your RMD on time you face a 50 percent excise tax on the RMD amount you failed to take out.

4.  Claim the saver’s credit (retirement savings contribution credit). You may qualify for this credit if you contribute to an IRA or retirement plan. The saver’s credit can increase your refund or reduce the tax you owe. The maximum credit is $1,000, or $2,000 for married couples. The credit you receive is often much less, due in part because of the deductions and other credits you may claim.

Posted by Administrator Account on 12/17/2014 10:36 AM

congressJust in time for tax season! Congress passes tax extender legislation through 2014:

Posted by Administrator Account on 12/15/2014 10:25 AM

charity tax write offsAs you remember those less fortunate this holiday season, there are a few things to consider if you want to write-off your contributions:

  1. To claim a tax deduction for your gifts, you must itemize your deductions.
  2. You can only deduct gifts you give to qualified charities. You can find qualified groups at and search for organizations eligible to receive tax-deductible charitable contributions.
  3. Gifts of money include those made in cash or by check, electronic funds transfer, credit card and payroll deduction. You must have a bank record or a written statement from the charity to deduct any gift of money on your tax return, regardless of the amount of the gift. The statement must show the name of the charity and the date and amount of the contribution. Bank records include canceled checks, or bank, credit union and credit card statements. If you give by payroll deductions, you should retain a pay stub, a Form W-2 wage statement or other document from your employer. It must show the total amount withheld for charity, along with the pledge card showing the name of the charity.
  4. Household items include furniture, furnishings, electronics, appliances and linens. If you donate clothing and household items to charity they generally must be in at least good used condition to claim a tax deduction. If you claim a deduction of over $500 for an item it doesn’t have to meet this standard if you include a qualified appraisal of the item with your tax return.
  5. You must get an acknowledgment from a charity for each deductible donation (either money or property) of $250 or more. Additional rules apply to the statement for gifts of that amount. This statement is in addition to the records required for deducting cash gifts. However, one statement with all of the required information may meet both requirements.
  6. You can deduct contributions in the year you make them. If you charge your gift to a credit card before the end of the year it will count for 2014. This is true even if you don’t pay the credit card bill until 2015. Also, a check will count for 2014 as long as you mail it in 2014.
  7. Special rules apply if you give a car, boat or airplane to charity. For more information, speak with your tax professional or visit
Posted by Administrator Account on 12/10/2014 2:38 PM

2015 Standard Mileage RatesThe IRS announced today the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

  • 57.5 cents per mile for business miles driven, up from 56 cents in 2014
  • 23 cents per mile driven for medical or moving purposes, down half a cent from 2014 
  • 14 cents per mile driven in service of charitable organizations
Posted by Administrator Account on 12/4/2014 12:20 PM
Jaime Martinez, CPA

Creating an effective retirement program that meets the needs of employees and owners is a complex issue. Not only are business strategies involved, such as attracting and retaining qualified employees, but a host of complex tax rules are present. To complicate matters even more, there is often a significant need for the business owner to maximize their own savings in preparation for retirement.

While there are many different retirement plan choices out there, there are some specifically designed for small businesses. Here are a few of the more common options to get you started:


Jaime Martinez, CPA
Grand Junction Office

Posted by Administrator Account on 12/2/2014 9:48 AM

IRS Form 1099 Reporting ManualRecently, Dalby Wendland professional, Terri Gallegos, CPA, taught an IRS Form 1099 Reporting class in Grand Junction. The seminar, hosted by Lorman Education Services, provided attendees with the latest information on best practices and processes in complying with 1099 filing requirements, forms, and IRS reporting guidelines.

The quick reference manual used in the class is now available for purchase at 50% off for interested persons/businesses. Included in the manual are current copies of the forms, completion information, and due dates. The manual is good through 2015.

For more information, or to purchase the manual, visit,


Posted by Administrator Account on 11/26/2014 9:19 AM

We wish you many blessings and joy -
Happy Thanksgiving from our family to yours!

Happy Thanksgiving 

Posted by Administrator Account on 11/24/2014 11:08 AM

holiday fraudIt’s easy to get swept up in the holiday hustle and bustle. Fraudsters know consumers may be less aware than usual at safeguarding their personal information and payment cards. Slow down and take time to consider these fraud prevention tips:

  1. Keep your purse and wallet secure. Make sure to use a purse that fully zips or closes. It’s easy to grab billfolds, cash, or other items from an open-top bag in a crowded, frenzied place. Men, likewise, should consider keeping your wallets in your front pocket.
  2. Make sure you receive your credit/debit card and ID back from the clerk before leaving the checkout area.
  3. If you lose your credit/debit card, call the issuing bank or go to their online site immediately to report the card lost or stolen.
  4. Keep your receipts and check them against your credit/debit card statements.
  5. Sign up for your card’s email or mobile “alerts” to monitor transactions and set notifications for purchases over the limit you have set.
  6. Make sure your computer has up-to-date virus software, firewall, operating system, and software (including browser).
  7. Don’t shop online in public places. Hackers can access the public WiFi you’re using too.
  8. Shop with established businesses you trust and can contact easily if there is a problem.
  9. Look for “https:” in the web address.  The “s” stands for private and “secure”.
  10. Watch out for emails with a link to a website for direct shopping. Go directly to the store’s site to avoid clicking on fraudulent links that look real.

Be wary of phone calls, emails, and texts from seemingly legitimate businesses or organizations that ask or threaten you to verify or resubmit personal information, including; name, address, social security number, bank account or credit/debit card information, etc. These are “phishing” scams and typically not only result in fraud, but also identity theft.

Posted by Administrator Account on 11/20/2014 9:26 AM

Top 250 Private Colorado CompaniesColoradoBiz recently announced their Top 250 Private Companies in Colorado with Dalby, Wendland & Co., P.C. making the list for the second year.  

Companies must be headquartered in Colorado and are ranked each year by gross revenues.  The published list also highlights industry type, years in business, and number of employees.

Dalby Wendland President and Firm Principal Steve Carver said, “We are honored to be among so many of Colorado’s greatest. As we celebrate 66-years in western Colorado, our Firm’s founders, Walt Dalby and Wes Wendland, would be proud of the legacy they started - one client at a time.“

A complete list of the Top Companies can be found at:

Posted by Administrator Account on 11/18/2014 8:48 AM

Spirit of Western Colorado Awards

Dalby, Wendland & Co., P.C., recently announced the 2014 winners of its “Spirit of Western Colorado®” award. FCI Constructors, Inc. in Grand Junction, attorney Dan Kerst of Kerst & Strautman, P.C., in Glenwood Springs, and Flower Motor Company in Montrose each received a beautiful bronze eagle statue during a luncheon ceremony on November 7th.

Since 2004, DWC has proudly and publicly recognized individuals and businesses that create lasting legacies throughout western Colorado. The awards honor the pioneer spirit of the west, which embodies vision, skill, and a can-do attitude that contribute for the better in our communities. Congratulations to the award winners for representing the true Spirit of Western Colorado!

FCI Constructors, Inc.

FCI Constructors, Inc.

FCI has grown from its founding in Grand Junction, Colorado in 1978 to a regional leader in commercial construction with offices in Longmont, Durango, Phoenix (Arizona), Cheyenne (Wyoming), Williston (North Dakota) and Aztec (New Mexico). Operating from seven smaller offices across the region rather than traveling to building sites from a centralized hub means FCI personnel live and work in their home communities.

Recognized as one of Engineering News-Record’s Top 400 Contractors since 1998, FCI has been at the forefront of the industry in customer service, safety, technology, and sustainable building.

An employee-owned company, FCI’s 280 personnel are stockholders with a vested interest in the success of each and every client project; they work hard to provide the best value and service the  industry has to offer.

Philanthropic support and community engagement are fundamental to FCI’s corporate culture. With a rich history of giving back to not only its home communities, the company’s employee-owners offer support in the other communities they work and build in as well. FCI understands that the core values of any business are a direct reflection of its people. Driven by strong values of trust, hard work, honesty, and professionalism, FCI employee-owners, when not building client projects, can be found coaching little league, serving in leadership positions on non-profit boards of directors, fundraising for special projects, participating in service clubs, and reading with elementary school students in communities across the region.

(Pictured L-R Front: FCI representatives Clay Marshall, Stan Kiser, Cassie Retherford, Pat Hutchinson, and Mark Leyba; L-R middle: DWC representatives Sabrina Hoyt, Kat Fraser, Nate Fyock, Sarah Menge, and Lisa Thon-Kollar; L-R back: DWC representatives Chris Allen, Larry Terrell, Jaime Martinez, Melissa Hoaglund, and Chris West)

Dan Kerst

Dan Kerst

Dan was raised in Wray, Colorado.  He obtained his Juris Doctorate from the University of Denver in 1975 and shortly thereafter, moved to the Glenwood Springs area and began practicing law.   He first began practicing with Petre, Zimmerman and Shelton and eventually opened a law firm of his own – not an easy task in a small town.

Dan poured his life into the practice of law and is now recognized by his peers as one of the best attorneys in his field.  He has now been helping people through his law practice, Kerst & Strautman, P.C.,  for nearly 40 years.

Dan and his wife Lynne are parents to two sons, Jarrod and Tyler, and are grandparents to five girls (six including the next bundle of joy to enter their lives soon).  The importance of family and children is evident in Dan’s legacy. He was a founding member of the YouthZone Foundation, served on the school board for RE-1 school district, and served on the board for the Northwestern area of Youth for Christ.


Dan continues to be very active in the community and his church, serving on the board of elders at Mountain View Church, and helping to keep the historical integrity of the Glenwood Springs downtown district by participating in the renovation of an old police station into a building that complements the historic town. He has invested and continues to invest in the youth of the Roaring Fork Valley with the same passion with which he practices law.

[Pictured L-R front: Dan and Lynne Kerst (middle) are flanked by associates and friends Bill and Sue DeWinter (left) and Rebecca and John Shenk (right); L-R back: DWC representatives Steve Carver, Duane Antes, Lynn Kleager, Greg Keller, Lisa Cunningham, and Mark Groves]

Flower Motor Company

Flower Motor CompanyFlower Motor Company pins its roots to 1904 when Fred Flower’s great-grandfather, Sid Hartman, and great-uncle, Joe, founded Hartman Brothers. They were the first in Montrose to sell and service automobiles, becoming the agency for Ford in 1908. They later gave up the Ford Agency and went with Dodge Motor Company in 1915 and the Walter P. Chrysler franchise in 1917. Along the way, L.F. Flower married into the Hartman family and he purchased Montrose Equipment in 1968, selling to his son Fred and wife Noreen a short time later.  Renamed as Flower Motor Company, they sold International Harvester trucks and farm machinery, tractors, and Scout vehicles.

In 1973, Fred and Noreen acquired the Subaru franchise, making Flower Motor Co. the second oldest Subaru franchise in the state (today they are the oldest). In 1984, they purchased the Dodge, Chrysler and Plymouth franchise from their Hartman cousins, keeping it all in the family.

Although the Flower Motor Company name has not technically existed for 50 years, the family ownership of the automobile franchise continues with the reins now firmly in the hands of Fred and Noreen’s sons Fletcher and Fritz, who put Jeep in the line-up in 2009 and opened the new Subaru store in 2011.

Today, Flower Motor Company employs 58 people and the company keeps good brands, local ownership, and customer satisfaction at the forefront of their business’s focus. They are active in supporting the community and traditionally provide donations for students, scholarships, various organizations and events. In the prior calendar year, they contributed and committed to over $63,000. They have been recognized as one of the outstanding Chrysler dealerships in the nation and received the Stellar Performer designation from Subaru.

(L-R front: Fred Flower, Noreen Flower, and Fletcher Flower; L-R back: DWC representatives Buck Miller, Susan Fezer, and Bob Eakin)

Posted by Administrator Account on 11/13/2014 9:32 AM

Colorado Animal RescueThe holiday season is quickly approaching and as people are shopping for loved ones, Dalby, Wendland & Co. would like to ask the community to pick up much needed items for our homeless, four-legged furry friends at Colorado Animal Rescue (C.A.R.E.). Specific items C.A.R.E. needs includes:

·         Creamy peanut butter (to place in dog treats)                       

·         Moist training treats                                                       

·         Rawhides for dogs                                                                 

·         Plush toys with squeakers     

·         Canned dog and cat food (pate kitten food)                          

·         Feliway diffusers and refills (cats)

·         Cat treats and cat nip                                                                        

·         Cardboard cat scratching pads

·         Pet-safe snow salt (de-icer)                                                  

·         Kongs

·         Small storage shed

·         Heating pads                                                                          

·         Stamps

·         AAA and AA batteries

·         Laser jet ink cartridges:  HP 85A

·         Ink jet cartridges:  920XL in

·         black/yellow/magenta/blue     

·         Gently Used Items:  towels, blankets, collars, leashes, harnesses, dog sweaters and bandanas

·         Financial contributions and gift cards to Target, Walmart, & City Market           

All contributions are tax deductible!                   

DWC will accept donations from November 10th – November 25th. All donations can be dropped off at DWC’s Glenwood Springs’ office located at the Two Rivers Park Plaza building, 201 Centennial Street, Suite 300.

For questions about donations, contact DWC representatives Brooke Mulchin (, Marianne Peterson (, or Rita Coder (

Posted by Administrator Account on 11/12/2014 1:54 PM

Dalby Wendland and neighboring businesses in the Two Rivers Park Plaza building in Glenwood Springs participated with other local community partners in this year’s Community Coat Drive. Neil-Garing Agency, Inc.; CQG, Inc.; Colorado River District; and Alpine Technologies, Inc. collected gently-used coats, hats, sweatshirts, sweaters, gloves, and boots for local families. Twenty-two bags of items were collected by the group from September to October.

DWC would like to extend our gratitude to all participating organizations for supporting our community!

Pictured: DWC employees Marianne Peterson, Tracy Barner, Janna Burk, and Michele Johnson volunteer at one of the community distribution sites.

Glenwood Springs Community Coat Drive
Posted by Administrator Account on 11/11/2014 10:14 AM

We honor the many courageous men and women who have served our country. Thank you Veterans!

US Flag

Posted by Administrator Account on 11/6/2014 9:26 AM

QuickBooks 2015If you have not heard yet, QuickBooks 2015 (QB 2015) has a built-in feature that allows Intuit to collect information about you and how you use their product. It’s called the QuickBooks Usage & Analytics Study and they collect your data by tracking your usage online.

While Intuit will most likely use the collected information for marketing and product development purposes, you DO have the option to “opt-out” of being in the study if you prefer.

Posted by Administrator Account on 11/4/2014 9:40 AM

Dlaby Wendland Glenwood Springs

Employees from DWC’s Glenwood Springs office recently participated in a Charity of Choice event, raising over $850. On Friday’s during September and October, employees paid to wear jeans at the office. All participating employees’ names were put into a drawing with the winner able to choose a local nonprofit group to donate the monies to. Staffer Renee Stump’s name was drawn and, wanting the money to go to a charity that benefits children, she chose Junior Achievement of the Roaring Fork Valley as the recipient.

Posted by Administrator Account on 10/30/2014 12:03 PM

DWC booth

Pictured L-R: DWC staffers Meghan Holdsworth and Sarajane Rossi
DWC hosted a booth at this year’s Grand Junction Area Chamber of Commerce Business Showcase . Attendees experienced great prize giveaways, various food samples, and networking. The event sold out with 92 businesses participating and a multitude of community and business individuals attending. Thank you to the GJ Chamber for another great Showcase event!

Posted by Administrator Account on 10/22/2014 9:10 AM

Melissa Hoaglund, CPA

As the need for a college degree has increased, the cost of going to college has also increased.  According to the College Board, for the 2013 - 2014 academic year, the average annual in-state tuition and fees at a public four-year college is $8,893, and the average out-of-state tuition and fees is $22,203.  The average annual tuition and fees at a private nonprofit college is $30,094.  These costs do not include room and board, books or supplies.  Because of this, parents should seriously consider saving towards these costs while their children are young.  Parents may choose from an array of tax-favored savings options.  Here is a rundown of what is available...

Melissa Hoaglund, CPA
Grand Junction Office
Posted by Administrator Account on 10/16/2014 9:02 AM

early retirment tax consequencesThe rules for retirement plans can be complex. Withdrawing money too early from your retirement plan may trigger additional taxes.  Consider these points before you decide to take money prior to reaching to age 59½:

  • If you make a withdrawal, you must report the amount you withdrew to the IRS. You may have to pay income tax as well as an additional 10 percent tax on the amount you withdrew.
  • The additional 10 percent tax does not apply to nontaxable withdrawals. Nontaxable withdrawals include withdrawals of your cost to participate in the plan. Your cost includes contributions that you paid tax on before you put them into the plan.
    • A rollover is a type of nontaxable withdrawal and is a distribution to you of cash or other assets from one retirement plan that you contribute to another retirement plan. You usually have 60 days to complete a rollover to make it tax-free.
    • There are exceptions to the additional 10 percent tax. Some of the exceptions for retirement plans are different from the rules for IRAS.
  • If you make an early withdrawal, you may need to file additional tax forms with your federal return.

Because everyone’s situation is unique, consult your local DWC tax professional about your tax exposure when looking to retire and withdrawing income from your retirement plan or investments. A certified tax professional can help you plan for the least amount of tax exposure. DWC professionals can also assist with estate and gift tax planning to help protect your assets.

Posted by Administrator Account on 9/30/2014 8:12 AM

medical and dental deductionsIf you plan to claim a deduction for your medical expenses, there are some rules that may affect your tax return. Here’s what you should know:

1. AGI threshold.  The amount of allowable medical expenses you must exceed before you can claim a deduction is 10 percent of your adjusted gross income.

2. Exception for age 65.  The AGI threshold is still 7.5 percent of your AGI if you or your spouse is age 65 or older. This exception will apply through Dec. 31, 2016.                                                                   

Posted by Administrator Account on 9/23/2014 9:13 AM

IRS Form 1099 classDalby, Wendland & Co., P.C. (DWC) is pleased to be a part of an upcoming educational opportunity, IRS Form 1099 Reporting: What You Need to Know, hosted by Lorman Education Services. This continuing education event will take place on Wednesday, October 22nd at the Grand Vista Hotel in Grand Junction. A portion of the agenda will be taught by DWC professional Terri Gallegos, CPA.

This seminar aims to provide attendees with the latest information on best practices and processes in complying with 1099 filing requirements, forms, and IRS reporting guidelines. Attendees can also obtain CPE credits by attending.

A 50% discount is available to DWC clients. Please contact our Grand Junction office at 970-243-1921 to receive the registration discount code.

Space is limited! To learn more, or to sign up, visit

Posted by Administrator Account on 9/23/2014 9:05 AM

Colorado Department of Labor and EmploymentThe Colorado Department of Labor and Employment (CDLE) is requiring all employers to complete a new mandatory Affirmation of Legal Work Status Form for all new hires working in Colorado starting on or after October 1, 2014.

The form should be completed within 20 calendar days of hiring the employee and it should be kept with the hiring documentation/employment documents of that employee for the duration of their employment with that employer.

The CDLE is allowing employers to start using the form as early as September 1, 2014, however, it is required for all employers to start using on October 1, 2014.

For more information or to access the new Mandatory Affirmation Form visit the CDLE website,

Posted by Administrator Account on 9/16/2014 8:17 AM

DWC recruiters Kevin Hettler, Brittany Dreher, and Sonya Foster visited the Fort Lewis College Beta Alpha Psi accounting club last week. The students got to hear about accounting as a career, some recent hot topics, and got to know a little more about the DWC family. Thank you to the professors, students, and career center for having us – you inspire us and we are excited that so many bright students are interested in making accounting their career of choice!

Kevin Hettler, Brittany Dreher Fort Lewis College

Fort Lewis Beta Alpha Psi Accounting Club 

Posted by Administrator Account on 9/10/2014 7:45 AM

Lisa Thon-Kollar, CPAOwning commercial or residential rental real estate is a common investment for many Americans.  Most rental properties will produce net positive cash flow.  However, even with net positive cash flow a loss can occur, but in some cases this loss can not be deducted.   

This is because in general a rental activity falls into the category of a "passive" activity. This means that rental losses you incur in a tax year can only be deducted against passive income and not deducted against nonpassive income, such as your wages or investment income.

Continue reading to learn about active participation and its benefits...

Lisa Thon-Kollar, CPA
Grand Junction Office

Posted by Administrator Account on 9/4/2014 8:55 AM

2012 Tax SOI Report Key Points


The IRS recently released the 2012 Statistics of Income (SOI) for Individual Income Tax Returns report. The Report provides evidence of an improving national economy.

Key points for the 2012 tax year include:

      • Adjusted gross income (AGI)reported on individual returns increased by $726 billion to  $8.4 trillion—an 8.7% increase over 2011
      • U.S. taxpayers filed 145.9 million individual income tax returns for the 2012 tax year, a decrease of 0.4 million (down 0.3%) from 2011
  • The total tax liability increased $1.3 trillion (up 13%)
  • A few components of AGI showed decreases from 2011 and 2012:
    • Unemployment compensation (down 22.9%)
    • Cancellation of debt (down 9.9%)
    • Taxable interest (down 6.9%)
  • On the other hand, several components showed large increases for 2012:
    • Net capital gain s were up 65.4%
    • Ordinary dividends were up 33.8%
    • Rents, royalties, partnerships, estates, trusts, etc. were up 26.2%

For details and the full report, visit

Posted by Administrator Account on 9/2/2014 1:45 PM

Roaring Fork Women's Triathlon Team

DWC would like to congratulate the Roaring Fork Women’s Triathlon Team(RFWTT) for another successful year in helping and supporting women athletes. This year RFWTT had 62 members on the team and every single member crossed the finish line at the Tri for the Cure in Denver in early August. DWC is proud to support these amazing women! For more information about RFWTT, visit online at

Posted by Administrator Account on 8/13/2014 7:25 AM

fake irs scam alertFake IRS scams are on the upswing again and are being reported across Colorado and the nation. Fraudsters are either calling or emailing individuals and businesses and will either threaten the person/business saying they owe taxes, or they tell the potential victim they are due a tax refund.

Phone scammers are calling with a toll-free number that appears to be from the IRS. They are threatening people with deportation, arrest, having their utilities shut off, or having their driver’s license revoked. The caller is oftentimes insulting or hostile to scare their victims into giving them personal information, including credit/debit/prepaid card numbers. They use fake names, IRS badge numbers, and may even be able to recite the last four digits of a victim’s Social Security number.  

Likewise, legitimate-looking emails are being sent stating individuals or businesses can get a tax refund on their credit/debit/prepaid card. The email asks you to follow a link to solicit personal information and credit card information. DO NOT open any link or attachments as they may contain malicious code that will infect your computer.

The IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. The IRS also does not ask for PINs, passwords or similar confidential access information for credit card, bank or other financial accounts. You should forward the email to

If you are unsure as to whether you owe taxes, have tax payment issues, or want to determine if the IRS is trying to contact you regarding a refund, call the IRS direct at 1-800-829-1040. You can also find more information at

Posted by Administrator Account on 8/12/2014 12:51 PM

home office tax deductions

If you work from home, you should learn the rules for how to claim the home office deduction. This year, the IRS provided a new, simpler option to figure the deduction for business use of your home.

Here are six facts from the IRS about the home office deduction:

Posted by Administrator Account on 8/5/2014 10:17 AM

Foreign Income Reporting, Tax FormsIf you live or work outside of the U.S. or receive income from foreign sources and you are a U.S. citizen or resident, you must report income from all sources within and outside of the U.S. The rules for filing income tax returns are generally the same whether you’re living in the U.S. or abroad.

Here are five IRS tips that U.S. taxpayers with foreign income should know:

Posted by Administrator Account on 7/29/2014 7:35 AM

Dalby, Wendland & Co., P.C. is pleased to announce the following staff promotions. We congratulate these exemplary professionals as they represent our core values of trust, respect, and responsibility in client, employee, and community relationships.

Steve D. Hovland, CPA, Certified Forensic AccountantSteve D. Hovland, CPA, Certified Forensic Accountant
Steve Hovland, a certified public and forensic accountant, is promoted to principal. He brings 13 years of experience in audit and accounting services as well as forensic investigations, litigation support, and single audits. He specializes in several industries including construction, financial institutions, government, non-profit organizations, and employee benefit plans. Steve is a member of the Colorado Society of CPAs, American Institute of CPAs, Financial Managers Society, Healthcare Financial Management Association, and American College of Forensic Examiners Institute. He also serves as treasurer on the boards of Grand Junction Business Incubator and River Technology Corporation, and the finance committee of First Presbyterian Church. He holds a bachelor’s degree from Colorado Mesa University.



Posted by Administrator Account on 7/23/2014 10:19 AM

house sale taxesTo pay or not to pay taxes on capital gains from your home sale can be confusing. If you are selling your home this year, keep these facts in mind come tax time.

  • If you have a capital gain on the sale of your home, you may be able to exclude your gain from tax. This rule may apply if you owned and used it as your main home for at least two out of the five years before the date of sale.
  • There are exceptions to the ownership and use rules. Some exceptions apply to persons with a disability, certain members of the military, and certain government and Peace Corps workers.
  • The most gain you can exclude is $250,000. This limit is $500,000 for joint returns. The Net Investment Income Tax will not apply to the excluded gain.
  • If the gain is not taxable, you may not need to report the sale to the IRS on your tax return.
  • You must report the sale on your tax return if you can’t exclude all or part of the gain. And you must report the sale if you choose not to claim the exclusion. That’s also true if you get Form 1099-S, Proceeds From Real Estate Transactions. If you report the sale you should review the Questions and Answers on the Net Investment Income Tax page on
  • Generally, you can exclude the gain from the sale of your main home only once every two years.
  • If you own more than one home, you may only exclude the gain on the sale of your main home. Your main home usually is the home that you live in most of the time.
  • If you claimed the first-time homebuyer credit when you bought the home, special rules apply to the sale.
  • If you sell your main home at a loss, you can’t deduct it.

Always consult your tax advisor if you have questions or are unsure as to how your home sale may affect your tax situation.

Posted by Administrator Account on 7/17/2014 7:52 AM

Sarah Fischer, CPA

When an employer advances or reimburses an employee for business expenses, there must be appropriate documentation to support the deduction as a business expense. Otherwise, these types of payments are considered additional wage paid to the employee and thus subject to payroll and income taxes.

The savings from properly structured reimbursement arrangements can have a valuable impact on businesses and their employees. Read on for details of "accountable plans"...


Sarah J. Fischer, CPA
Grand Junction Office

Posted by Administrator Account on 7/7/2014 9:55 AM

got investments

Last year, some taxpayers became subject to the Net Investment Income Tax (NIIT) - a new tax for those that have investment income and total yearly income exceeding certain limits. If you have investment income, or are planning future investments, keep these four things in mind...


Posted by Administrator Account on 7/3/2014 9:25 AM

RFOV group photo

DWC’s Glenwood Springs office took a group volunteer day to give back to the community. Participants spent a day with Roaring Fork Outdoor Volunteers (RFOV) to build split-rail fences and widen existing trails on the Doc Holliday trail. RFOV promotes stewardship of our public lands by engaging the community in volunteer trail and restoration projects.

Volunteers included Kevin and Caryn Hettler, Brittany Dreher, Duane and Tina Antes, James Heelan, Brooke Mulchin, Leah Thomas, Caitlin Miner, Tiffanie and Carson Miller, Katy Alvarez, and Greg Ward.

For more information, or get involved, visit

Posted by Administrator Account on 7/1/2014 7:39 AM

PCORI fee deadlineDoes your company maintain a self-insured health plan? If you answered “yes,” you may be required to pay the Affordable Care Act PCORI fee.

Under the Affordable Care Act, insurers of specific health insurance policies and plan sponsors of applicable self-insured health plans are due an annual fee. The fee, which helps fund the Patient-Centered Outcomes Research Institute (PCORI) is required to be reported annually on the second quarter Form 720. Fees due must be paid by July 31st.

Contact your tax advisor for questions, or to see if your self-insured health plan qualifies, how to calculate the fee, and how to report/pay it, visit the PCORI fee page at

Posted by Administrator Account on 6/25/2014 8:33 AM

is bartering taxableBartering is the trading of one product or service for another. Often there is no exchange of cash. Small businesses sometimes barter to get products or services they need. For example, a plumber might trade plumbing work with a dentist for dental services.

If you barter, you should know that the value of products or services from bartering is taxable income.

1. Barter exchanges.  A barter exchange is an organized marketplace where members barter products or services. Some exchanges operate out of an office and others over the Internet. All barter exchanges are required to issue Form 1099-B, Proceeds from Broker and Barter Exchange Transactions. The exchange must give a copy of the form to its members who barter and file a copy with the IRS.

2. Bartering income.  Barter and trade dollars are the same as real dollars for tax purposes and must be reported on a tax return. Both parties must report as income the fair market value of the product or service they get.

3. Tax implications.  Bartering is taxable in the year it occurs. The tax rules may vary based on the type of bartering that takes place. Barterers may owe income taxes, self-employment taxes, employment taxes or excise taxes on their bartering income.

4. Reporting rules.  How you report bartering on a tax return varies. If you are in a trade or business, you normally report it on Form 1040, Schedule C, Profit or Loss from Business.

The IRS provides information in their Bartering Tax Center in the business section on

Posted by Administrator Account on 6/19/2014 8:18 AM

Denise Distel, QuickBooks ProAdvisorThe security breach like the one that occurred with Target in December 2013 is another reminder that we are all vulnerable to thieves who will do anything they can to steal your personal information.  The Federal Trade Commission reported that nearly 15 million Americans have been victims of identity theft, and on average, it costs a victim $1,173 and 175 man-hours to get their credit report straightened out.

I recently attended an identity theft webinar presented by Frank Abagnale. You may remember him – he is the real life imposter the best-selling book and movie Catch Me If You Can is based on. A clever fraudster in his younger years, Mr. Abagnale is now one of the world’s most respected authorities on forgery, embezzlement, and secure documents.

As a QuickBooks ProAdvisor working with financials, I found Mr. Abagnale’s presentation very informative. Read on for a few of his recommendations...



Denise Distel, QuickBooks ProAdvisor
Montrose office


Posted by Administrator Account on 6/17/2014 8:44 AM

DWC Relay For Life 2014

Dalby, Wendland’s tax and audit office in Grand Junction participated in the American Cancer Society’s Relay For Life event on Friday and Saturday, June 13th and 14th. The event, held at Long Family Memorial Park, hosted over 40 teams and hundreds of walkers. This year’s theme was Disney’s “Wish Upon a Cure” and the DWC team chose the ever-popular movie, Finding Nemo.

A special thank you to these DWC team members/supporters and their families: Lisa Thon Kollar, Pat Steele, Nikki Hanks, Ray Buttermore, Janel Boudreaux, Sabrina Hoyt, Loren Hofer, and Sonya Foster.


(L-R, back row: Steve Kollar, Lisa Thon Kollar, Sonya Foster, Billy Foster; middle row: Sabrina Hoyt, Pat Steele, Jeff Steele, Nikki Hanks, Kylie Hanks; front row: Grayde Hoyt, Rylie Hoyt, and DWC friends, Sandra Legg and Olivia Thurston)



Sabrina HoytDalby, Wendland & Co.

Posted by Administrator Account on 6/11/2014 9:31 AM

tip incomeVarious industries today allow their employees to collect tips. If you have tip income, the IRS expects you to report it for taxes. Here are some reminders:

  • Tips are taxable.  You must pay federal income tax on any tips you receive. The value of non-cash tips, such as tickets, passes or other items of value are also subject to income tax.
  • Include all tips on your return.  You must include the total of all tips you received during the year on your income tax return. This includes tips directly from customers, tips added to credit cards and your share of tips received under a tip-splitting agreement with other employees.
  • Report tips to your employer.  If you receive $20 or more in tips in any one month, from any one job, you must report your tips for that month to your employer. The report should only include cash, check, debit and credit card tips you receive. Your employer is required to withhold federal income, Social Security and Medicare taxes on the reported tips. Do not report the value of any noncash tips to your employer. 
  • Keep a daily log of tips.  If you prefer not to keep a hand-written log via notebook, there are various  free smartphone apps available for Android and iPhone users.
Posted by Administrator Account on 6/5/2014 7:45 AM

no dumping employees

Some employers are opting to reimburse employees for the premiums they pay for health insurance—i.e., health insurance through a qualified health plan in the health insurance exchange or outside the exchange —rather than establishing a health insurance plan for its own employees. Known as “dumping,” this strategy has been proposed as an inexpensive way to shift the expense of providing employee health care away from the employer, requiring only that the employer provide its employees with what was assumed would be tax free cash contribution to their employees towards paying their health insurance premiums. While under such arrangements an employee may have an after-tax amount applied toward health coverage or take that amount in cash compensation, these arrangements are considered to be group health plans subject to the market reforms provisions under the Affordable Care Act (ACA) and the penalty for failure to meet those provisions.

Read on to learn more about the rules and consequences of this issue... 

Posted by Administrator Account on 6/4/2014 10:41 AM

Colorado River Valley Little League

DWC is proud to sponsor the Huskers – a Colorado River Valley Little League (CRVLL) team! Glenwood Springs staffer Jennifer Street’s son, Kade, plays for the Huskers. CRVLL is a nonprofit organization developed to teach fundamental life values; emphasizing respect, sportsmanship, effort, attitude, teamwork, and determination to student athletes. To support CRVLL, or to find teams and game schedules, visit

Posted by Administrator Account on 6/3/2014 2:49 PM

Colorado FlagIf you have employees, please keep in mind that it is critical to make sure you have all proper employee forms on file.  The Colorado Department of Labor is issuing notices of random audit for compliance with the Colorado Employment Verification Law (§ 8-2-122, C.R.S.).  The notice requests copies of Colorado affirmation forms on file for all current employees as well as copies of forms of identification.  Penalties due for violation of the law may result in fines up to $5,000 for a first offense.

Colorado employers are required to complete an affirmation form for all employees hired on or after January 1, 2007. For additional information on the Colorado Employment Verification Law and for copies of the affirmation form, please visit

Posted by Administrator Account on 5/13/2014 8:52 AM

home energy tax creditsCertain energy-efficient home improvements may benefit your tax and utility bills. The federal government provides energy tax credits for some improvements.

While the Non-Business Energy Property Credit expired at the end of 2013, you can still utilize the Residential Energy Efficient Property Credit… for now.

Here are the details:

  • This tax credit is 30 percent of the cost of alternative energy equipment installed on or in your home.
  • Qualified equipment includes solar hot water heaters, solar electric equipment and wind turbines.
  • There is no dollar limit on the credit for most types of property. If your credit is more than the tax you owe, you can carry forward the unused portion of this credit to next year’s tax return.
  • The home must be in the U.S. It does not have to be your main home.
  • This credit is available through 2016.
  • You must file a special form (Form 5695) to claim the credit.

As always, contact your tax professional for questions, including if you can receive state tax credits.


Posted by Administrator Account on 5/8/2014 2:29 PM

Mark PlantzCongratulations to Dalby, Wendland & Co. staffer Mark Plantz for his recent election to the Montrose Recreation District Board of Directors.

The Montrose Recreation District’s (MRD) purpose is to provide, manage, and maintain quality recreational facilities, programs, and services, which will enhance the learning, leisure, and recreation opportunities that promote a healthy community. In addition to evaluating the needs of district residents and constructing new facilities, the MRD provides recreation programming year-round.

Mark’s goal as a director is to help uphold the mission of the MRD by assisting the public in their decision to encourage a healthy community. He says, “I will apply a standard of ethics directly to my position within the board, striving to respect opinions of both board members and Montrose residents. I aim to focus mainly on being responsible with the funds that have been allocated and economic benefits of the recent law changes. As a new Montrose resident and employee for a local accounting firm, I want to give back to residents while being a positive influence on this community as it drastically changes and grows.”

Mark joined Dalby Wendland in 2013 after moving to Montrose from Durango. He is a graduate of Colorado Mountain College and Fort Lewis College where he attained a bachelor of science degree in accounting. Mark is an avid outdoorsman and enjoys hiking, mountain biking, camping, and snowboarding.

Posted by Administrator Account on 5/8/2014 7:44 AM

Sarah Menge, CPA

In today’s modern business environment, technology is a critical tool for production, marketing, accounting, and financial reporting; and the ability to anticipate and react to changing technology needs is essential. Upgrading or changing software can be a time consuming and expensive investment, but there are some ways to ease the transition period and make sure that you select the right product for your business. When upgrading or changing accounting software it’s important to consider the business’ current and expected future needs for financial reporting and the testing and timing of implementing changes. Read on for more details...


Sarah L. Menge
Grand Junction Audit Office

Posted by Administrator Account on 4/24/2014 7:43 AM

Loren Hofer, CPA, Amber Elsberry, CPADalby, Wendland & Co., P.C. would like to thank Amber Elsberry, CPA (Grand Junction office) for her seven years of service on the board of the Western Slope Chapter of Colorado Society of Certified Public Accountants. Amber was secretary/treasurer for the last two years of her involvement.

Dalby Wendland’s Loren Hofer, CPA (Grand Junction office) is resuming Amber’s role as secretary/treasurer.

The Colorado Society of CPAs (COCPA) is a state-wide, not-for-profit, professional association that represents Colorado CPAs at the state and national levels of government, works on the CPA profession’s behalf with the Colorado State Board of Accountancy, provides continuing professional education to Colorado CPAs, and offers a wide variety of services to COCPA members. Its mission is to support its members in providing quality professional services to serve the public interest.

Thank you to both professionals for your service and support to the accounting industry!

(L-R: Loren Hofer, CPA; Amber Elsberry, CPA)

Posted by Administrator Account on 4/22/2014 8:32 AM

Spring clean your finances


As you declutter and organize your home this spring, consider doing the same for your personal financial statement and important documents.  Doing so can make tax return prep, estate planning, calculating your net worth, and applying for a loan much easier.  Here are some recommendations:

Posted by Administrator Account on 4/15/2014 7:57 AM

tax deadline

TODAY is the deadline to file your taxes, or an extension!  If you are just now finishing up your taxes, make sure to avoid these common errors:

            • Take a close look at the tax tables to be sure you are using the correct column for filing status
            • Review your figures – it is easy to transpose numbers or make math errors
            • Review your forms to be sure you completed all of the appropriate boxes
            • Remember to attach all required forms (i.e., W-2s, etc.) to the front of your return (if filing by paper)
            • Sign and date your forms
            • Double check the routing and account numbers on your form for direct deposit of refunds
  • If you are not e-filing, check or your form instructions to mail your paper return to the correct address
  • Keep a copy of your signed form and all records pertaining to them

For additional information, visit

Posted by Administrator Account on 4/8/2014 10:40 AM

Colorado Mesa UniversityDalby, Wendland & Co., P.C. is pleased to announce a new scholarship for accounting students attending Colorado Mesa University (CMU) in Grand Junction, Colo.

The scholarship, administered through the CMU Foundation, will be awarded to a junior or senior business major seeking a degree in accounting with a minimum 3.0 GPA. The amount of the award is $1,000 per semester ($2,000 annual). Qualifying students should contact the CMU Office of Financial Aid for eligibility requirements, application, and additional information;

Dalby Wendland is proud to help further the education of accounting students and support the progression of the accounting profession.

Posted by Administrator Account on 4/2/2014 8:00 AM

investment income for childrenTypically, it is required that you pay income tax on investment income, and the same is true for a child who must file a federal tax return (parents/guardian is responsible to file for child if child cannot do themselves). There are special tax rules for certain children with investment income that may affect the tax rate and the way you report the income.

Here are four facts from the IRS that you should know about your child’s investment income:

Posted by Administrator Account on 3/17/2014 12:14 PM

Top Accounting Firms 2014Dalby, Wendland & Co., P.C., CEO Steve Carver announced today that the Firm was recognized by Accounting Today as one of the Top Firms of 2014. Dalby Wendland frequently receives the honor for the Mountain States Region, which encompasses Colorado, Idaho, Montana, Utah, and Wyoming. Only 10 firms for this region were recognized. Of those, five firms were headquartered in Denver, two in Montana, one in Utah, and one in Wyoming.  Dalby Wendland is the only firm headquartered in western Colorado to attain the award.

“Our firm founders, Walt Dalby and Wes Wendland, set the bar early on for the best client service, ethical standards, and highest of technical expertise,” says Carver. “We continue to push the bar to help make our clients and communities successful. It is an honor to be recognized as a Top Firm. We are proud of our communities, our clients, and our team members.”

Posted by Administrator Account on 3/11/2014 9:30 AM

Chris West, CPAThe IRS and taxpayers have always battled over whether the purchase of tangible property is currently deductible or must be capitalized and recovered through depreciation over time.  The struggle over this often-encountered matter has existed since the inception of the Internal Revenue Code.  The distinction between deductible repairs and capital improvements has been determined largely through case law and is based on facts and circumstances.  The U.S. Supreme Court has even weighed in on the matter.

The IRS has issued final regulations on the matter.  Read on to see how it may affect your business...


Christopher L. West, CPA
Grand Junction office

Posted by Administrator Account on 3/4/2014 8:52 AM

2014 HSA Maximum Contributions


While the true impact and effects of the Affordable Care Act is yet to be seen, more people are turning to a Health Savings Account (HSA) to help offset high-deductible health plan costs. Contributions to the accounts are made on a pre-tax basis. The money can accumulate year after year tax free, and be withdrawn tax free to pay for a variety of medical expenses such as doctor visits, prescriptions, chiropractic care and premiums for long-term-care insurance.

Participating employers can also contribute to accounts, on behalf of their employees.


Here are the 2014 limits for individual and family coverage:


  • Self-only coverage annual minimum deductible  $ 1,250
  • Self-only coverage maximum out-of-pocket expenses (deductibles, co-payments, and other amounts,
    but not premiums)  $ 6,350        
  • Self-only coverage maximum HSA contribution  $ 3,300 
  • Family coverage annual minimum deductible (family coverage can include a spouse and any
    dependents)  $ 2,500 
  • Family coverage maximum out-of-pocket expenses (deductibles, co-payments, and other amounts,
    but not premiums)  $12,700 
  • Family coverage maximum HSA contribution$ 6,550

For more than 65 years, Dalby, Wendland & Co, P.C. (DWC) has been a leader in the public accounting and business
consulting profession. With Firm offices in Aspen, Glenwood Springs, Grand Junction, Montrose, Rifle, and Telluride,
DWC is the largest public accounting firm headquartered in Western Colorado.


Posted by Administrator Account on 2/26/2014 12:39 PM

April 15 tax deadlineThe Personal Exemption is up slightly this year due to inflation adjustments.  The exemption is available for taxpayers and the dependents they claim on their tax returns, and helps to reduce taxable income and the resulting tax bill.

In addition to the Personal Exemption, taxpayers also have available a Standard Deduction.  Taxpayers can claim the Standard Deduction when it is greater than the total of their itemized deductions, such as mortgage interest and property taxes. Here are the standard deductions for 2013 tax filings:

  • Single or Married Filing Separately – $6,100 (up $150)
  • Head of Household – $8,950 (up $250)
  • Married Filing Joint and Qualifying Widow/Widower – $12,200 (up $300)
  • Qualifying Dependent –$1,000 (up $50) OR $350 plus dependent’s earned income up to $6,100  (whichever is greater)

Also new this year, legally married, same-sex couples can benefit by claiming Married Filing Joint status for federal tax purposes, whether or not the couple lives in a jurisdiction that recognizes same-sex marriage.  These couples can also claim Married Filing Joint status for prior years by filing amended returns for years 2010, 2011, and 2012. Due to certain complexities with this new law (sorting out withholdings, pre- and after-tax benefits, refund opportunities, etc.), it is recommended couples seek professional guidance on state and federal tax return preparation.

Some final things to be aware of this filing season… the IRS has guidelines for qualifying children and qualifying relatives who may be claimed as dependents, so dependents who are claimed by another taxpayer are not eligible for a personal exemption. You may, however, qualify for additional tax credits related to your qualified dependents, such as the child and dependent care tax credit.

Posted by Administrator Account on 2/19/2014 3:18 PM
American Care Act


With a one-year delay until 2015 in the employer pay-or-play penalty, the availability of small business "SHOP" plans, and the higher standards for health insurance benefits in the individual market, all this might lead business owners and individuals to believe not much change will actually be felt in 2014. Be assured, this is a false notion.

Here is a summary of what key provisions are now in effect...

Posted by Administrator Account on 2/17/2014 11:11 AM

Dalby, Wendland & Co., P.C. is always looking for bright accountants to join our team!  If you are looking for an exciting career in public accounting, we invite you to watch our video and learn more about what we can offer you!

Accountant Recruitment Video Image
Posted by Administrator Account on 2/6/2014 8:36 AM

Sales & Use TaxOnline shopping may provide convenience and cost savings at times, however it generally doesn't allow you to avoid paying sales tax. Paying taxes on online purchases is the law in most jurisdictions -- whether it's collected at the time of purchase or later.

It's true that five states (Alaska, Delaware, Montana, New Hampshire and Oregon) don't charge sales or use taxes. This tax-free status applies to in-store and online purchase.

Purchases in the remaining 45 states and the District of Columbia incur combined state and local sales tax rates that generally range from 6 to 10 percent. If you don't pay sales tax at the time of purchase, you're supposed to track your sales-tax-free purchases and pay use tax on those purchases along with your state income tax return.

Use tax applies to businesses and individuals, but many buyers are unaware of (or ignore) it. Some states are reinforcing their collection efforts, however. If you make large, tax-free purchases online, it's increasingly possible that state taxing authorities could find out, audit you and impose back taxes and penalties. 

Posted by Administrator Account on 1/21/2014 8:34 AM

The following table provides some important federal tax information for 2014, as compared with 2013. Some of the dollar amounts change due to inflation. Other amounts are changing due to legislation.


Posted by Administrator Account on 1/8/2014 9:50 AM

2014 Small Business Resolutions

Like many individuals, you might want to make resolutions for your business for the New Year. Here are some considerations:

Inventory fixed assets. Physically tag and record identification numbers for all fixed assets. Missing or damaged items may be revealed when you compare your physical inventory to your computerized fixed asset ledger from your accounting records.

Write off uncollectible accounts and obsolete equipment. Your balance sheet may contain assets that are unlikely to be converted into cash. Write these items off now - you'll have a cleaner balance sheet going forward.

Perform a physical inventory count. This is part of a CPA's required audit procedures. You can do this in-house, hire an outside firm to oversee your inventory counting procedures, or you can ask your CPA to perform its own independent count.   

Evaluate business insurance coverage. The types of coverage that worked last year may be insufficient today.

Obtain a business appraisal. Knowing what your business is worth can guide short- and long-term business strategy decisions, such as accepting a purchase offer, buying out minority shareholders, modifying insurance coverage, filing for bankruptcy or requesting credit lines.

Plan an exit strategy. Every business eventually sells (or liquidates). Exit strategies outline how owners will someday get cash out of the business.

Consult with professional advisers. Accountants and lawyers know the latest developments that affect your local market and industry niche. They can customize a more comprehensive list of administrative tasks to whip your company into shape in 2014 and beyond.



Posted by Administrator Account on 12/31/2013 11:23 AM

Happy New Year

As we look back on another year fulfilled, we reflect upon the things we're most grateful for.  Our treasured relationships with our clients and colleagues are among the things we value most, and we thank you for choosing Dalby, Wendland & Co. as your trusted business advisors.

Welcoming a brand new year, we look forward to the opportunity to provide you with the excellent service you deserve.

Posted by Administrator Account on 12/24/2013 9:00 AM

Merry Christmas from our family to yours!


Posted by Administrator Account on 11/27/2013 9:34 AM

May the good things in life be yours in abundance not only at Thanksgiving,
but throughout the coming year.

Happy Thanksgiving from our family to yours!

Posted by Administrator Account on 11/21/2013 8:33 AM

Tax Updates


Many Dalby Wendland clients will be receiving our annual year-end tax update letters in the mail in the next couple of weeks.  As a preface to the more in-depth information in the letters, here is a “hit list” of new developments the letters will cover that may affect you:

Posted by Administrator Account on 11/5/2013 8:24 AM

Erin Duckworth, CPAAudited financial statements are needed by companies and organizations for various reasons. An audit of a company’s financial statements may be required by an external third-party such as a regulator, lender, or potential investor, or requested internally from either the board of directors or management.

An auditor is engaged to give an opinion as to whether the stated financial position and results of the operations are fairly stated and free from any material misstatement. In addition to the audit opinion there are many other benefits of an audit. 

Read on for tips and benefits of having a financial statement audit.


Erin L. Duckworth, CPA
Grand Junction Audit Office

Posted by Administrator Account on 10/30/2013 8:47 AM

Grand Junction Chamber Business Showcase

DWC booth staffers - pictured L-R: Jessica Miracle, Chris West, Sarah Fischer, Chris Allen, Donna Hardy, Kat Fraser, Sarah Menge


The GJ office hosted a booth last night at this year's GJ Chamber Business Showcase.  Over 85 businesses attended to enjoy networking and the festivities.  This year's theme was "circus" and many visitors stopped by the DWC booth for a picture, posing as our "strongman"/"strongwoman" (see all pictures on our Facebook page).  Thanks to all who attended - it was truly a fun evening spent with clients, businesses, and the community.

Posted by Administrator Account on 10/24/2013 7:07 AM

ColoradoBiz Top 250 CompaniesColoradoBiz recently announced their Top 250 Private Companies in Colorado with Dalby, Wendland & Co., P.C. in the top 100 as #77 on the list. 

Companies must be headquartered in Colorado and are ranked each year by gross revenues.  The published list also highlights industry type, years in business, and number of employees.

Dalby Wendland President and Firm Principal Steve Carver said, “We are honored to be among so many of Colorado’s greatest.  As we celebrate 65-years in Western Colorado, our Firm’s founders Walt Dalby and Wes Wendland would be proud of the legacy they started - one client at a time.“

A complete list of the Top Companies can be found at:

Posted by Administrator Account on 10/22/2013 7:33 AM

Denise DistelDenise Distel, a QuickBooks Pro Advisor with Dalby, Wendland & Co., P.C., is spearheading a fundraiser to purchase new furniture for Hilltop’s Tri-County Resources (TCR) women’s shelter in Montrose.

Denise and other members of the Dalby, Wendland & Co. Montrose office will be running (or walking) laps for pledges and donations on Saturday, November 30th from 11 am - 2 pm at the Montrose High School Track. To help with the cost, Budgetline Furniture and A & Y Gallery have offered to provide the furniture and décor at a discount.

Denise says, “Leaving an abuser is a terrifying experience. You feel as if your world has totally turned upside down. It is a big help if you can go to a facility that is safe and cozy. My goal is to have the new furniture in place by Christmas.”

Aimee Quadri-Chavez, TCR Program Coordinator, says, “Our program is primarily grant funded and we have very little in our budget for things like furniture and objects that make a place feel like home. Most of the women and children that come to our facility have been through recent crisis and trauma, and it’s important to us that they are comfortable for their stay. Tri-County Resources is very fortunate to have the support of local businesses like Dalby, Wendland & Co. that make it a priority to give back to the community. This furniture fundraiser will make a difference for many of our clients, just in time for the holidays.”

HOW TO HELP: Supporters can email Denise with pledges at Checks can also be mailed to, or dropped by the Dalby, Wendland & Co. Montrose office at 501 E. Main Street. Please make checks payable to Tri-County Resources.

Last year, 70 women and 55 children took shelter at TCR (for a total of 1,707 shelter nights). In addition, over 1,500 calls came in on the three crisis lines staffed by TCR on a 24-hour basis. As with most other nonprofits in our community, there is a constant need for TCR’s services while program grants and funding has decreased.

For more information, or to pledge your support, please email Denise at

Posted by Administrator Account on 10/14/2013 9:25 AM
Mike WestYouthZone’s Kiss ‘n Squeal Fundraiser wrapped up on Saturday, October 12th with over $146,000 raised by the six candidates. Dalby Wendland’s Mike West was the Reserve Champion, raising $35,625.

Mike extends his appreciation and gratitude,
“A special thank you to my campaign team, co-workers, clients, business associates, family, and friends for your help and support! YouthZone is a community asset and I am grateful to help them continue their mission of serving youth in our community. This experience has been positive for DWC and myself with our community benefitting from our efforts.”

Dalby, Wendland & Co. congratulates all candidates on a job well done! 

Posted by Administrator Account on 10/9/2013 8:19 AM

Mike WestThe YouthZone Kiss ‘n Squeal campaign is wrapping up on Saturday, October 12th! Dalby Wendland’s own candidate, Mike West, is among the top fundraisers. The candidate who raises the most money gets to kiss a real live pig at Saturday’s finale! One dollar equals one “vote”. If you have not had the opportunity to vote, here’s how you can help:

Eat for a good cause: The Glenwood Springs Brewpub is donating $1 for every house-smoked, pulled pork sandwich sold.

Buy a raffle ticket: $10 per ticket; First Prize is $1,000 and Second Prize is $500. PURCHASE TICKETS

Attend the finale: Saturday, October 12th from 4-7 pm at Tybar Ranch in Carbondale. Enjoy a BBQ cook-off, games for the kids, raffle drawing, and see which candidate gets to kiss the pig! Tickets are $20/adult, $10/youth 12 years and under. PURCHASE TICKETS

Posted by Administrator Account on 10/8/2013 11:06 AM

Dalby Wendland Walk 4 Life

Over 60 Dalby Wendland employees and family members from the Grand Junction offices signed up to walk in support of breast cancer awareness, education, and detection during this year’s Walk 4 Life event. Approximately 300 supporters participated on Saturday, October 5th. Junior Service League of Grand Junction hosts the event annually and 100% of the proceeds stay local to help fund breast cancer education, programs, and support in Mesa County.

October is National Breast Cancer Awareness Month. To help support awareness and education of breast cancer, we invite you to learn more online at the Susan G. Komen Foundation, or the American Cancer Society.

Posted by Administrator Account on 10/1/2013 8:35 AM


St. Mary's Ball, Lisa Thon-Kollar, Jessica Miracle, Sonya Foster, Chris Allen


Dalby Wendland wishes to congratulate Drs. Gary L. Snyder, Jeffrey M. Nakano, and Perry L. Rashleigh, and ANB Bank as this year’s St. Mary’s Hospital Foundation Community Heroes. Professionals from Dalby Wendland were present to help recognize each at St. Mary’s Ball on Saturday, September 28th.

Dr. Snyder received the Saccomanno Lifetime Acheivement award, Dr. Nakano received the Physician of the Year award, and Dr. Rashleigh received the Philanthropist of the Year award. ANB Bank was recognized as Corporate Citizen of the Year.

A heartfelt thank you to each for making our community a better place!

Picture:  DWC professionals attended the gala (L-R): Lisa and Steve Kollar, Sonya and Billy Foster, Heidi and Chris Allen, Jessica and Zebulon Miracle; (not pictured, Lauren Van Roekel and Casey Termentozzi)

Posted by Administrator Account on 9/24/2013 7:53 AM

Jay T. Sanfield, CPA

When people hear the term accounting, there tends to be an involuntary reaction of the brain to shut down, and the sleep mode is activated.  This is unfortunate because accounting, especially to a small business owner, can actually be very interesting.  It is one of the primary tools by which business owners and other interested parties can gauge the success of their business, as well as identify areas that require attention and need improvement.  To understand accounting, business owners need to have a basic understanding of how the process works (debits and credits) and its results (financial statements).  Read on for what to look for in a good accounting system.


Jay T. Stanfield, CPA
Grand Junction Audit office

Posted by Administrator Account on 9/16/2013 12:58 PM


GJ Chamber Business Expansion Award The Grand Junction Audit office was recognized at the Grand Junction Chamber's Quarterly Luncheon for a business expansion award.  The Audit team was housed on half of the second floor, and recently relocated to the entire fifth floor at 464 Main Street.  The building's owner and property manager, HR Enterprises, remodeled the new space.  The capital improvements made and room for additional staff enabled DWC to receive a Business Expansion Award.


Luncheon sponsor Vance Wagner  (ANB Bank) and Michael Burke (GJ Chamber Chairman) congratulate September Business Expansion Award Recipients: Rob Jones - Comfort Keepers, Chris Allen -  Dalby, Wendland & Co and John Tierney - All Seasons Hotsy

Posted by Administrator Account on 9/5/2013 11:10 AM

oil and gas wellIf you own land that contains valuable natural resources and you arrange for the development of the resources by means of a lease, there are tax consequences. Being in Western Colorado, we see many clients needing this type of tax guidance. Landowners may enter into complex financial agreements to receive royalty, bonus, or other income in exchange for granting access to the resources on their land, such as natural gas and oil.

Here are some important facts regarding these transactions.

Posted by Administrator Account on 8/22/2013 9:28 AM

business trip tax rulesTaking a business trip outside the U.S.? Learn the tax loopholes to add a bit of personal R & R to your trip.

If your business travels often take you abroad, you may want to add a few extra days to a trip for relaxing and sightseeing.  Keep in mind, however, business travel deductions for foreign travel are different from those for domestic. 

The general rule says you must allocate all your travel expenses –- including transportation costs -- between business and personal days.  Yet, there are two loopholes you may be able to take advantage of that may allow you to deduct all of your foreign transportation expenses.

Here's what you need to know...


Posted by Administrator Account on 8/6/2013 7:48 AM


Dalby, Wendland & Co., P.C. is pleased to announce its newly elected directors and officers of the board:


 Steve Carver, CPA/PFS (Glenwood Springs) – President

Greg Keller, CPA/CFF/PFS/CITP (Glenwood Springs) – Secretary

Chris West, CPA (Grand Junction) – Treasurer

Chris Allen, CPA (Grand Junction) – Vice President

Lisa Cunningham, CPA (Glenwood Springs) – Vice President

Buck Miller, CPA/CVA (Montrose) – Vice President

Rob Sachs (Grand Junction) – Chief Operating Officer

Posted by Administrator Account on 7/26/2013 9:24 AM

Lisa Thon-KollarHigher education costs are rising fast.  You may be able to turn part of these expenses that you pay for yourself, your spouse, or your dependents into tax savings. You can do this by claiming the American Opportunity tax credit or the Lifetime Learning credit for tuition and related expenses.

The maximum American Opportunity tax credit you can claim is $2,500 per student for the first four years of undergraduate education at an eligible educational institution (The credit is 100% of the first $2,000 of qualifying expenses and 25% of the next $2,000, so the maximum credit of $2,500 is reached when a student has qualifying expenses of $4,000 or more).  Since the limit is per student and not per taxpayer, if you incur qualifying expenses for yourself and two children your credit may be as high as $7,500 ($2,500 × 3).

Lisa Thon-Kollar, CPA

Posted by Administrator Account on 7/26/2013 7:16 AM

Tax CourtIn the first part of our casualty and theft tax court lesson, we outlined a true case of one homeowner’s plight to recoup some of their money given to a general contractor for their home construction project. 

We left the story with the IRS disallowing the homeowner’s reported loss due to the IRS stating the general contractor’s actions were not “theft” as defined under Illinois State Law, and the deductions were not timely.  Let’s pick up with how the Tax Court ruled.

Posted by Administrator Account on 7/24/2013 12:34 PM

tax courtWhen casualty or theft strikes, the law allows businesses and individuals to claim a tax deduction for the resulting loss. For individuals, you can generally deduct the amount of your unreimbursed loss to the extent the loss exceeds 10 percent of your adjusted gross income for the year. Before applying the 10 percent limit, you must subtract $100 for each casualty or theft occurrence.

It is common for the IRS to challenge such deductions, particularly for individuals, on the grounds a theft or casualty has not occurred -- or that it was claimed in the wrong year. This was illustrated in a recent Tax Court case...
Posted by Administrator Account on 7/18/2013 3:20 PM

Congratulations to the following professionals on their recent promotions!

Nathan A. Fyock, CPANathan A. Fyock, CPA
Nathan, a Certified Public Accountant, is promoted to manager. He provides auditing and accounting services to a variety of clients and industries including nonprofit organizations, institutions of higher learning, governmental entities, and employee benefit plans. In addition, other businesses Nathan serves include insurance, construction, manufacturing, third party health plan administration, trucking and logistics, and information technology companies. Nathan is a member of the Colorado Society of CPAs and the American Institute of CPAs. He holds a bachelor’s degree from Adams State University.

Posted by Administrator Account on 7/12/2013 9:07 AM

In case you missed it, we’ve relocated to the Grand River Plaza One building across from Grand River Hospital (796 Megan Ave., #200).

Thank you to the Rifle Chamber of Commerce for our official ribbon cutting! Rifle Chamber ribbon cutting

Posted by Administrator Account on 7/11/2013 12:01 PM

Jeremy R. Lederer, CPA, CVADalby, Wendland & Co., P.C. is pleased to announce Certified Public Accountant (CPA) Jeremy R. Lederer has successfully completed the certification process with the National Association of Certified Valuators and Analysts (NACVA) to earn his designation of Certified Valuation Analyst (CVA).

In his announcement of Jeremy’s certification, NACVA Chief Executive Officer, Parnell Black, MBA, CPA, CVA, noted, “The designation is an indication to the professional community that Mr. Lederer has met the Associations’ rigorous standards of professionalism, expertise, objectivity, and integrity in the field of business valuation, litigation support, and related consulting disciplines.  He can be proud of the fact that NACVA’s CVA designation is the only valuation credential accredited by the National Commission for Certifying Agencies (NCCA).”

Posted by Administrator Account on 7/9/2013 7:34 AM

wedding rings, DOMA tax Per the Supreme Court's recent decision, same-sex couples who are married and reside in states that recognize same-sex marriages are to be treated as married for federal tax purposes. In some cases, filing amended returns for previous years may result in federal tax refunds.

Tax results of being married are mostly favorable to filing as individuals, with one big exception. Here are the ways that the individual tax situations of some same-sex couples will change in the wake of the Supreme Court rulings.

Posted by Administrator Account on 7/3/2013 10:35 AM


We wish you a happy and safe 4th of July holiday!American flag

Our offices will be closed on July 4th and 5th in observance.

Posted by Administrator Account on 6/25/2013 8:17 AM

caution IRS tax scamsn 2013The IRS issued its list of the most common tax scams.  Be wary of these common schemes that can happen at any time of the year.

Identity Theft:  ID theft marks the top of the list for 2013.  Oftentimes an ID thief uses a legitimate taxpayer’s identity to fraudulently file a tax return and claim a refund

Phishing:  Here, scammers send unsolicited email or a fake website to lure you into providing valuable personal and financial information.  The IRS does not initiate contact with taxpayers by email to request personal or financial information.  If you receive a suspicious email that appears to be from the IRS, report it by sending it to


Posted by Administrator Account on 6/21/2013 7:29 AM

Katherine Fraser, CPAIf you are considering starting a business or wonder if the current structure of your business is the most advantageous for you and/or your company, consider the following: the business structure you choose will have legal and tax implications.  There are a variety of business structures to consider when determining which structure would best suit your business. 

Read on to learn which structure may benefit you the most and how best to support it with proper management.

Katherine Fraser, CPA
Grand Junction Audit

Posted by Administrator Account on 6/14/2013 9:58 AM

DWC and HFHRFV volunteersEmployees of Dalby, Wendland & Co., P.C. traded in their adding machines on Thursday, May 30th for hammers and saws to participate in a team-build to help Habitat for Humanity Roaring Fork Valley (RFV) construct its newest family home.  The duplex home, located in Silt, was in its early stages of build.  The DWC team learned some valuable framing skills and the day proved to be very productive.


Pictured L-R:  Sonya Foster, James Heelan, Duane Antes,  Marianne Peterson, Patrice Onofrio, Kelly Ward, Katie Layman, Jennifer Bullock, Lynn Kleager, Larry Barnet (HFH), Michael Salazar (HFH); not pictured, Janet Lee with DWC.

Posted by Administrator Account on 5/28/2013 2:28 PM


Attention businesses!  Stay ahead of monthly federal tax and reporting deadlines via our at-a-glance online calendar. Visit our Resources page, then click on the Federal Tax Calendar link.

Posted by Administrator Account on 5/17/2013 12:13 PM

IRS data book,, IRS audit statsThe IRS has released its annual data book providing statistical data on its fiscal year (FY) 2012 and enforcement activities.  The data provides a map of what the IRS is focusing their resources on. 

We’ve pulled some interesting facts for individual, business, and other enforcement activities. Here we look at other interesting facts relating to IRS filing and enforcement activities:

Posted by Administrator Account on 5/15/2013 8:31 AM

IRS audit flagsThe IRS has released its annual data book providing statistical data on its fiscal year (FY) 2012 and enforcement activities.  The data provides a map of what the IRS is focusing their resources on. 

In our 3-part series, we’ve pulled some interesting facts for individual, business, and other enforcement activities. Part 2 looks at where the IRS is focusing its resources on business returns and they compare to the prior year:

Posted by Administrator Account on 5/7/2013 11:31 AM

Sarah Menge, CPAAn employer sponsored 401(k) plan is a great tool to help employees save for the future, but it is important to understand your plan, and play an active role in monitoring your benefits to make sure you achieve your retirement goals.

The first step towards utilizing your 401(k) plan is understanding the key provisions of the plan and how it is managed. Once you have enrolled in the plan, your employer is required to provide you a copy of the Summary Plan Description (SPD), within 90 days. You should read through the SPD to gain an understanding of the main provisions of the plan. If you are unsure about any of the features in your plan, ask your plan manager right away.

Sarah Menge, CPA
Audit, Grand Junction Office



Posted by Administrator Account on 4/25/2013 10:40 AM

glenwood chamber award, philanthropic business of the yearDalby, Wendland & Co. would like to thank the Glenwood Springs Chamber Resort Association and its members for honoring us as the 2013 Philanthropic Business of the Year.  Partners Greg Keller, Steve Carver, Lisa Cunningham, Kevin Gibson, and Lynne Kleager attended the Roaring '20s themed event on Saturday, April 20th.

Glenwood Springs' managing partner Lisa Cunningham notes, "We are honored to be recognized among such extraordinary members of our community.  We congratulate the award recipients on their achievements."

The distinguished honorees were: Citizen of the Year - Marilee Rippy; ATHENA Leadership Award - Lorie Beattie Courier; ATHENA Young Professional - Jennifer Smith; DECA Entrepreneur of the Year - Jim Nieslanik; Chamber Ambassador of the Year - Jerry Pradier; Bosco Tourism Business of the Year - Glenwood Adventure Company.

Pictured L-R: Greg Keller, Steve Carver, Chamber President and CEO Marianne Virgili, Lisa Cunningham, Kevin Gibson, Lynn Kleager

Posted by Administrator Account on 4/8/2013 8:54 AM

Chris West, CPASo, the deadline for filing your 2012 tax return is fast approaching and you are beginning to feel overwhelmed with the pile of tax documents and receipts sitting on the dining room table. You start to wonder if you will even meet the April 15th deadline. The good news is you are not alone. The IRS says between 25% and 30% of all U.S. taxpayers wait until the last two weeks before the deadline to file their personal income tax returns (or file for an extension). Here are several last minute tax tips that will hopefully make your tax preparation experience much more enjoyable: 

Chris West, CPA
Grand Junction Office


Posted by Administrator Account on 4/2/2013 11:00 AM
employees vs contractorsBusinesses have for years attempted to save on payroll taxes by classifying employees as independent contractors.  However, the IRS is aware of this and has recently rolled out a new initiative to identify and correct misclassification of employees.  In those instances where the IRS is successful in “reclassifying” independent contractors as employees, the bill for the employer is substantial: employers have to pay both the employer and employee payroll taxes as well as penalties and interest.


The IRS estimates that one in seven U.S. employers is guilty of misclassifying some of its employees, resulting in a loss of more than $4.1 billion a year in tax revenues. 

Posted by Administrator Account on 3/29/2013 9:40 AM

2013 taxes, tax deadineHere we wrap up our three-part series of important information for those just now contemplating 2013 taxes:

Some Things Stay the Same: These Breaks Were Restored

The tax breaks listed below expired at the end of 2011, but the fiscal cliff legislation retroactively restored them for 2012 tax returns (filed in 2013):

Deduction for Higher Education Tuition - This write-off can be as much as $4,000 or $2,000 for higher-income folks.

Option to Deduct State and Local Sales Taxes - If you paid little or no state income tax in 2012, you have the option of instead claiming an itemized deduction for general state and local sales taxes. The deduction is claimed on Schedule A of Form 1040.


Posted by Administrator Account on 3/27/2013 7:25 AM