Finance & Enjoyment Blog
March 01, 2010Denver CPA Firm's Lesson About Gratitude
Category: Entertainment and Events
Every day, I practice gratitude. Being grateful during the difficult times is not easy, and sometimes I find myself not taking the time to be grateful for the small things in life. I try to practice gratitude continuously, throughout the day. When I wake up in the mornings, I think grateful thoughts for the simple gifts in my life -- for my bed and for the unknown day ahead. I even send grateful thoughts for my shower, my clothes, my breakfast, my home and for my husband. I express gratitude for my job, and my coworkers. These simple things are blessings in life. Special moments to me are wh …
Read The Rest of This PostFebruary 27, 2010Benefit of Credit Cards, according to Denver CPA Firm
Category: Your Financial House
When we talk about credit cards, we automatically think about the high interest rate and all sorts of fees the credit card company charges us. But I recently learned that there are times we should use a credit card. The credit card benefit was an accidental lesson. It happened when my two year old Sony big screen TV was broken a month ago. I called the Costco tech support hot line and found out that the two year warranty had expired three days earlier. The Costco customer service representative noticed that I had charged the TV with American Express. He told me that American Express has an …
Read The Rest of This PostFebruary 25, 2010Helpful Hints to Expedite Your Individual Tax Preparation
Category: Your Financial House
With tax season upon us, these tips may be helpful to avoid follow up information requests and maybe even reduce your tax prep bill. 1. Read your organizer! It is a very useful tool. On the right side everything you reported in 2008 is listed. Use this guide to enter (or gather) the necessary information for your 2009 taxes. 2. Remember to include ownership tax information for your car. On the organizer, it’s listed just below real estate tax as “personal property tax.” Simply refer to your auto/boat/motorcycle/trailer registrations …
Read The Rest of This PostFebruary 23, 2010KKB Teammember speaks on "Why I live in Buffalo Creek Colorado"
Category: Vacation Destinations
While flying to CougarVille, Washington a few weeks ago; for my stepdaughter’s graduation I was thinking this was going to be a great weekend. However, as usual, when I travel I always wish I were spending my time at home. Let me tell you why: The place I call home, Buffalo Creek, Colorado is just 50 short miles southwest of Denver. If any mountain bike riders are reading this, you may know exactly what I’m talking about. Bikers seem to nearly fill our ranger station parking lot on most Sunday mornings. But you are okay, guest. You’re basi …
Read The Rest of This PostFebruary 17, 2010Roth IRA Conversions
Category: Your Financial House
Roth IRA’s (named after Representative Roth who was chairman of the House Ways and Means committee at the time) have been in existence since 1998. They are only available to individuals with earned income and adjusted gross incomes below established levels. Roth IRA’s are advantageous because: Virtually all future income, growth and withdrawals are tax-free You are not required to take distributions after age 70 1/2, as you are with traditional IRA’s Taxpayers with adjusted gross incomes below $100,000 have been permitted to convert traditional IRA& …
Read The Rest of This PostFebruary 11, 2010Prepare for the RAC Attack
Category: Successful Practice Management
RAC Audits Are Coming! Have a sample of your claims reviewed by an outside coding expert. Be sure your compliance manual is up to date. Look for your most frequently used and highest dollar claims, and be sure coding is accurate. These will be among the first areas of RAC examination. Monitor the RAC’s Web site for the items at the center of their attention, and scrutinize your practice for all that apply. CMS requires that RACs inform the public of specific areas of interest. Connolly’s Web site is: www.connollyhealthcare.c …
Read The Rest of This PostJanuary 21, 2010KKB in the Community
Category: Successful Practice Management
Oftentimes in our lives we get so caught up in our careers and focus so intently on them that we may forget the importance of community and the need, as humans, to do what we can to improve the world around us. Volunteering is just one way, I believe, that enables us to do this. I hope you are able to see from my own experiences the joy that can be found in giving up ones time for the benefit of others. As well as how easy it is to become a volunteer. After recently moving to Lakewood from Iowa it was important to me to find ways I could give back to the place I now call home. I was luc …
Read The Rest of This PostDecember 23, 2009First Time Home Buying - My Home Buying Nightmare!
Category: Your Financial House
It was a dark and stormy night in Southeast Denver and my apartment lease was weeks from expiring. I had spent the last few weeks of April trying to find the perfect home to rent so I could have a yard for my basset hound to play. May 1st rolled around and I realized that maybe renting isn’t the best option for me. A friend asked me, “Why don’t you buy a house?” To which I immediately laughed. “Are you crazy?” But later that night I took a step back and I realized the idea wasn’t that crazy after all. If you take …
Read The Rest of This PostDecember 02, 2009My African Adventure
Category: Vacation Destinations
No, it's not a motorized safari! It's a world where transportation is by donkey or by foot. This is a place where the day's meal is slow-cooked over an open fire; and vibrant people move slowly and savor time with their friends and relatives. At the edge of the Sahara where people live in thatch homes, and life is harsh, hearts are kind and people live in peace. In January 2010, I'll travel to the village of Guéoul, Sénégal in western Africa to volunteer with Friends of Guéoul. Friends of Guéoul Friends of Guéoul is a Color …
Read The Rest of This PostNovember 30, 2009What Should Small Business Be Doing in a Downturn?
Category: Successful Practice Management
Small business is a major driver of the U.S. economy. In hard times, however, smaller businesses have a tough time surviving. What should they be doing to survive and thrive? Manage Payroll - Payroll is typically one of the largest costs in a small business. The challenge is to employ just the right number of people to provide optimum customer service. This means projecting sales and staffing to meet that need. The successful business will master the art of maintaining high quality service levels, without employing excess personnel that consume the businesses pot …
Read The Rest of This PostNovember 27, 2009Your Time Management - Raising an ADD or ADHD Child
Category: Time Management and Organization
I made it! Both of my boys were diagnosed with ADD or ADHD at a young age. What a struggle it has been getting them through school. My youngest is a senior in high school and by the grace of God he will graduate in May. There have been many obstacles to overcome during their school years. For my oldest, staying focused on homework, or just a simple task that was out of the ordinary, were his biggest obstacles. He has ADHD. Trying to keep him in a chair for more than 2 minutes was such an effort. There were many days when he was younger that we would have t …
Read The Rest of This PostNovember 24, 2009KKB Sox Game 4
Category: Entertainment and Events
Lessons learned from last night's game four: most athletic events between a sports bar and an accounting firm will usually end with the sports bar winning. So what if we lost 4-25 to JD's Bait Shop? Let's challenge them to an "1120 Death Duel" and see who wins. "Two teams enter, retained earnings leave!" All joking aside, we actually played very well last night. Linda graciously decided to help us out since we were one (wo)man short, and did an excellent job fielding the ball. In fact, both she and Colleen had several crucial stops while field …
Read The Rest of This PostNovember 24, 2009KKB Sox - Game 5
Category: Entertainment and Events
If you want to see the key to our game 5 victory, look for further than the picture below, taken from last night's game. That's right, Jon "Capital Gains" Alfano won it for us last night with his Herculean level hitting. Even with the opposing team's outfielders playing deep, he still drove it to the fences for two or three RBI's every at bat. Other noteworthy news from the game involved Angela and Phil playing catch between the pitcher's mound and first base for a couple of innings, resulting in a three up, three down lineup from the Rabid Squirrels. Let's hope they tr …
Read The Rest of This PostNovember 18, 2009The Enjoyment of Working at KKB!
Category: Entertainment and Events
"To be successful you have to enjoy doing your best while at the same time contributing to something beyond yourself." Mihaly Csikszentmihalvi The enjoyment of working at KKB! Central to the core of office culture at Krause Kirkpatrick Bertrand is the Enjoyment Committee (EC). The committee is comprised of staff volunteers and with it's excellent intellectual capital and modest budget invest in great ideas, camaraderie and shared memories. The enjoyment committee has provided various activities to assist in making KKB a more enjoyable place to work. The first …
Read The Rest of This PostNovember 17, 2009Theory Behind The Sneeze
Category: Entertainment and Events
The receptionist in our office has a nose disease that causes her to sneeze all of the time. I mean, all of the time. The poor thing will have sneezing attacks that last for minutes. She told me about this right after she started since I sit next to hear and she didn't want me to worry about always having to say "Bless you". But there was no way that I was not going to say "Bless you" every time. I have to. Now let me explain why. My dad was always very strict about my sister and I having good manners. We were to always say "G …
Read The Rest of This PostOctober 20, 2009Computer Crime and Abuse
Category: Rules and Regulations
Popular business press, from the Wall Street Journal, various cable news networks, other business magazines and websites; frequently publish stories about newly discovered cases of financial fraud relating to or carried out by using computers. KKB would like to increase awareness of these problems and aid in devising controls to prevent them or reduce the damage they can cause to your company. A computer crime is the manipulation of a computer or computer-generated data to dishonestly obtain something of value for personal gain, or to cause loss. Statement on Auditing Standards No. 99: Cons …
Read The Rest of This PostOctober 16, 2009KKB Recommends La Dolce Vita!!
Category: Vacation Destinations
When people think about getting outside on a weekend in Colorado, the first thing that comes to mind is heading for the mountains. And while the mountains provide everything an outdoor adventurer is looking for, what adventures exist for those who don’t like camping and hiking? Well, if you enjoy great food and a family atmosphere, then Festival Italiano at Bel-Mar is right up your alley. Festival Italiano is an annual festival held at Bel-Mar, a vibrant shopping, dining and residential community in Lakewood. Bel-Mar, located at Alameda and Wadsworth, is the host of …
Read The Rest of This PostOctober 15, 2009KKB Sox Game 3
Category: Entertainment and Events
I believe last night’s game three was what’s called a “black and blue” game. Muscles were sore and aching but that didn’t seem to stop us from playing excellent defense. Our defense played so well we were able to finish the game holding our opponents with back to back scoreless innings. Due to these scoreless innings, and a few well timed hits by KKB team members, we won the game, 13-9. Last night’s fielding was unquestionably the best performance we’ve had all year. Let’s credit the excellent work from the entire infield as well as strong pi …
Read The Rest of This PostSeptember 23, 2009KKB Team Member - Small Town Girl to the Big City
Category: Vacation Destinations
Have you ever been so set in your ways in life that it is hard to adjust to new changes? Something as new and bold as moving from one state to another? I recently moved from my home state of Texas that I have known my entire life, and where my entire family resides, to another state that is way out of my comfort zone. Yeah! Talk about a HUGE change! I know, I know, you are probably thinking, "Oh geez! That's easy! I've done that plenty of times and it is not THAT hard." Well, I am a small town girl, moving to a big city. So, this is definitel …
Read The Rest of This PostSeptember 17, 2009Estate Tax Changes
Category: Rules and Regulations
Estate tax is defined by the Internal Revenue service as "A tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death." In 2001, Congress enacted sweeping changes to the estate tax, gradually increasing the exemption amount from $675,000 to $3,500,000 today in 2009. Because this legislation passed in the Senate with fewer than 60 votes, the changes could not be made permanent. If Congress does not address estate tax in 2009, the tax will disappear as of January 1, 2010, …
Read The Rest of This PostAugust 18, 2009KKB's Take on Proposed Healthcare Reform
Category: Rules and Regulations
Healthcare Reform, or Health Insurance Reform as it is currently being called, is the hottest topic on many people's minds right now. The House has passed a complex bill that is over 1,000 pages long; there are many, many provisions in this bill, and I doubt anyone can say that they know what it all means. Democratic senators and congressmen rely on advisors who are guided by Mr. Obama's team for a political script for their public communications. I wonder if any one of them has read the entire bill. There are provisions within the bill that are highly questionable, such as …
Read The Rest of This PostAugust 13, 2009Identity Theft and Red Flag Rules
Category: Rules and Regulations
The Red Flag Rules were developed to address identity theft issues through creditor handling of personal consumer information. In theory, finding identity theft early in source transactions and taking proactive steps to stop the damage should lessen financial losses to organizations, and protect consumers from becoming victims. The FACT Act, of which the Red Flags Rules are a part, is a significant piece of legislation that amended the Fair Credit Reporting Act (FCRA) and requires businesses to implement the law through a number of regulations. According to the Federal Trade Commi …
Read The Rest of This PostAugust 13, 2009KKB Softball Team's Game #2
Category: Entertainment and Events
I know these games are meant to be played for fun, but that doesn't stop last night from hurting any less. The cause for the roller coaster ride of emotions came from the top of the third inning with what we thought would be our final at bat, down 8-3. Slowly but surly, their lead began to decrease until finally it was 8-5 with two outs, the bases loaded, and the home run king himself, Tyler Cline, steps up to the plate. What happened next was a powerful hit that shot the first pitch straight to center field, finally rolling to a stop at the outfield fence. Despite a …
Read The Rest of This PostJuly 20, 2009KKB's CPA Softball Game!
Category: Entertainment and Events
The best victory is when the opponent surrenders of its own accord before there are any actual hostilities... It is best to win without fighting. – The Art of War After Wednesday night’s game with Racks & Balls, we all can certainly attest to that statement. Unable to field enough females to play, the game began with a forfeit that led to a scrimmage between the available players on both teams. Unless an event occurs where we win without actually leaving the house, last night will likely go down as the easiest win of the year for the KKB Sox. This improves the Sox record to a …
Read The Rest of This PostJuly 19, 2009First-time Homebuyer
Category: Your Financial House
For those of you considering taking the plunge into home ownership, there may be no better time to buy then right now. With the depressed housing market and foreclosures at an all time high, many individuals are looking to take part in the American dream and become first-time homebuyers. In order to help facilitate you, the American Recovery and Reinvestment Act of 2009 (ARRA) has enhanced the first-time homebuyer credit for those who are eligible to take it. Who can take the credit? An individual is considered a first-time homebuyer if he (or spouse, if married) had no presen …
Read The Rest of This PostJuly 18, 20092009 Potential Tax Changes
Category: Rules and Regulations
2009 is shaping up to be active and perhaps even baffling year. The following paragraphs outline some of the key activities that seem to support this forecast. Our team of tax professionals at KKB will be following these and other changes as they occur. Recently Nancy Pelosi, Speaker of the House of Representatives, said the House would have its version of healthcare reform out by July 31, 2009, yet no mention was made about how it would be funded. The most pressing tax issue for 2009 is the existing estate tax exemption. On Ja …
Read The Rest of This PostJuly 16, 2009Internal Controls - Financial Health of Your Business
Category: Your Financial House
How’s the financial health of your business? You probably check the pulse of the business financial health by regularly watching the cash flow and even reading the monthly financial statements. But have you examined the internal financial structure of your business recently? To conduct a business self-assessment, answer “yes” or “no” to this list of questions: Do you know how transactions flow through your business? Do you know who in your organization is responsible for specific financial functions? (deposits, check writing …
Read The Rest of This PostJuly 15, 2009Lease vs. Buy
Category: Successful Practice Management
Clients frequently ask me whether to buy or lease a certain piece of equipment for the medical practice. Before I can answer that question I must consider a great number of facts about the client’s specific circumstances. The first thing we look at is the current cash flow situation. Is there enough cash in the practice currently to buy the equipment outright? If the cash is there, we can save interest charges that a loan to buy the equipment would incur. With interest rates on savings accounts being almost zero these days, and credit being tough to find, paying ca …
Read The Rest of This PostJuly 14, 2009Thoughts on Influencing Organizational Culture
Category: Successful Practice Management
The organizational culture of your business defines the way you relate to your customers and to the people you work with. Your customers will be served best when the entire team works together with the same well-defined positive orientation towards service and customer care. As a customer, you inherently know when you are working with a competent individual who cares about what you want and need. It doesn’t take long for you to determine if the sales person before you is attentive and knowledgeable about store products. There was a time when “customer service& …
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