Colorado Employer Compliance Update

 

We've been anticipating another mid-year compliance update as this seems to be the norm for Colorado legislation now. We aim to keep the small business community informed of changes to the employment law landscape that directly impacts you. It's a long one so join us for the journey and we'll walk you through what you need to know!

 

Mid-Year Compliance Update Summary

Now

  • CO Military Leave Clarification
  • FED Pregnant Workers Fairness Act
  • CO Unemployment Insurance Premiums

Soon

  • CO Protecting Opportunities and Workers Rights (POWR) 8/7/2023 
  • CO Bereavement Leave Through HFWA 8/7/2023
  • CO Workers Comp Updates 8/7/2023

Later

  •  CO FAMLI Benefit Calculation Update 1/1/2024 
  • CO Equal Pay For Equal Work Act 1/1/2024 
  • CO Application Question Restrictions 7/1/2024

 

 

NOW

 

Military Leave Clarification

    HB 23-1045 This is an expansion from the already required USERRA Military Leave. CO...

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Colorado Mandates Small Business Retirement Plans

As small businesses, there is so much to balance as we care for our employees. This past year has undeniably kept Colorado small business owners on their toes and busy with a myriad of legal changes. We see all the hard work these changes have required and are proud of the way our community has stepped up to the plate and prevailed! More changes may not be business owners’ top priority this year, but the Colorado General Assembly has their own action plan that will impact us none the less. In the next year, they will be mandating a state sponsored retirement savings plan, the Colorado Secure Savings Program. This plan is designed to make retirement savings more accessible to the Colorado workforce.

With continually pressing financial demands of the present, creating savings to use years from now is often not at top of mind. The fact is financial planning and retirement savings can make for a more predictable future and are exponentially more effective the sooner they begin. At...

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Paycheck Protection Program: Round 2

 
 
Updated 1/12/2021
If you haven't heard, Sunday night President Trump signed into law the $900 billion COVID-19 relief bill "Consolidated Appropriations Act" which provides $300 billion in support for small businesses and an opportunity to apply for a second PPP loan (or first loan if you missed the first round of PPP loans). This also includes Sec. 501(c)(6) not-for-profit organizations that were not able to apply previously.
 
According to a report by the SBA , accountants played a significant role in assisting small businesses with securing $525 billion in forgivable loans over 5 months the application was open for PPP1. Our companion business BRW Tax & Accounting is thrilled to have been a part of that and helped so many of you! Now is our opportunity to support the small business community again with the "PPP2".
 
Guidance and regulations have not been issued yet, but the SBA must provide regulations within 10 days of the...
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Masks & Your Business: Colorado Mask Order

On Thursday, July 16, 2020, Governor Jared Polis implemented a 30-day statewide mask order in the state of Colorado (there is a possibility of extension).  This order impacts every way we conduct business, work with our employees and serve your customers. There are a number of considerations that you need to apply when staying compliant.  Read on to learn how to apply this order to your business operations.

There is significant debate about the mask order and deep-rooted feelings for and against this order.  As you maneuver through implementing and staying compliant with this order, you will encounter these perspectives.  No matter what your personal thoughts are, it is important to know what is expected of you as a business owner.  Without further ado, let's dive right in.  

Your Working Environment:

Within the Colorado mask order, you do have to be mindful of when your staff must wear a mask.  You and your team are...

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LAW UPDATE: The Senate CARES Bill

 

The Senate CARES Bill (Coronavirus Aid, Relief, and Economic Security Act)

 

Source: Estimates for third relief bill based on bill text, committee and administration numbers.
Credit: Audrey Carlsen/NPR

The Senate developed $2 Trillion dollar, multi-faceted legislation attacking this disaster from multiple sides: tax and debt relief, small business loans, unemployment expansion, and individual stimulus payments. They see we’re hurting and they aren’t playing around.

Incentive and assistance for small businesses to keep employees working

The bill creates a “paycheck protection program” for

  • Self-employed individuals
  • Small businesses
  • “Gig economy” workers

Hey solopreneurs and giggers, you finally aren’t being excluded from the group and chastised for being your own boss! Congratulations!

Let’s take a big bite and jump in.

INDIVIDUAL TAXES

They will need your individual 2019 taxes (and valid social security numbers) in order to cut...

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