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Stories written by Chris West

Chris West is a principal at Dalby, Wendland & Co., a full-service auditing and accounting firm that opened its doors in downtown Grand Junction in 1948 and is now entering its 63rd tax season. For more information about Dalby, Wendland & Co., including tax updates, visit www.dalbycpa.com.

Turbocharge you real estate tax deductions

Investing in commercial real estate represents a significant financial undertaking. Maximizing after-tax cash flow, especially in the early years of the investment, is typically a high priority. Whether investing in commercial real estate for your own occupancy or to rent to others, take steps to maximize income tax depreciation deductions that can be claimed for […]

Fund a Health Savings Account before an IRA? Really?

You’ve worked hard, lived below your means and accumulated some hard-earned savings. What’s the most effective savings vehicle to use? Should you fund your Individual Retirement Account, 401(k) at work … or Health Savings Account? Most people don’t think about an HSA as an alternative to an IRA or 401(k). But an HSA should be […]

Capital expenditure or deductible repair? New rules apply

The Internal Revenue Service and taxpayers long have 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 capital improvements and deductible repairs has been […]

Start year with a commitment to financial management

A new year offers a new opportunity to critically assess the financial data underlying your business. As the national and local economies work through the economic recovery, it’s critical to stay on top of your business finances. As a small business owner, it’s imperative to have sound accounting and financial management that allows you to […]

Timely tips offer help at taxing time of year

The deadline for filing your 2012 income tax return fast approaches, and you’re beginning to feel overwhelmed with the pile of documents and receipts sitting on the dining room table. You start to wonder if you’ll even meet the April 15 deadline.  The good news is you’re not alone. According to the IRS, between 25 […]

I own my own S Corporation – what should I pay myself?

More than 4 million U.S. businesses defined as “small businesses” elect to be S corporations for federal income tax purposes.  For small business owners preferring the corporate form of ownership, the election to be taxed as an S corporation has certainly been the most preferable choice given the S corporation’s pass-through nature of income and […]

Need a New Years’ resolution? – learn the language of business

            With the advent of a new year comes the opportunity to critically assess the financial data underlying your business. Accounting is the “language of business” and it is critical to make sure your business adheres to sound accounting procedures otherwise the language you may hear when looking at your […]

Do you regret your Roth IRA conversion?

Contributing to an Individual Retirement Account (IRA) has always been a popular retirement savings vehicle for the American taxpayer. IRA’s became even more popular with the advent of the Roth IRA in 1997. For those who qualify, Roth IRA contributions can be made on an after-tax basis (no tax deduction for the contribution). However, the […]

Real estate investing: Mind financial and tax issues

Investing in commercial real estate has its complexities and certainly isn’t for the faint of heart. Investors must perform financial analysis on various potential investment opportunities to determine the best possible performers and, hopefully, pick a winner. Here’s a brief overview of the financial analysis and key tax aspects involved in such investments. One of […]

Take precautions to secure business information

Since the dust has settled on another tax season, I thought it might be helpful to share some insights on the critical role information technology (IT) plays in business. IT is a driving force in the success of business and companies that use it will see their operations continue to grow, even in slow economies. […]


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