Advanced Accounting & Business Solutions

06/22/2025

This year marks an incredible turning point for Advanced Accounting and Business Solutions LLC! We are thrilled to announce that as of January 2025, Scott Jensen has joined our AABS family as my trusted business partner.

I cannot express how fortunate I feel to have someone as talented, intelligent, and compassionate as Scott by my side. His alignment with my values has been a tremendous blessing, especially during a challenging time when my health was putting AABS at risk of closure. Thanks to Scott's unwavering support, we are now positioned for success and growth.

Scott's expertise is truly unparalleled. He brings a unique blend of teaching, accounting, and exceptional problem-solving skills to every client relationship. Starting his career as a music educator, he developed outstanding communication, adaptability, and patience, teaching students ranging from 5 to 80 years old. After earning his accounting degree from Colorado State University, Scott gained substantial experience at a mid-sized CPA firm before launching his own practice in 2018.

Our recent merger between Blue Door Accounting and AABS has prompted us to reevaluate our service offerings, and I am excited to share that this restructuring will empower us to better serve our CFO clients. We will focus on providing invaluable support that will help them stop the financial bleeding and achieve their goals through ongoing collaboration, ensuring a steady and positive cash flow month after month.

Ready to take your financial strategy to the next level? Schedule a meeting with Scott. Click here
Www.calendly.com/scott-aabs/30min

If you’d like to see if we’re the right fit for you, click here Www.calendly.com/aabstax/aabs-right-fit-call

As we navigate these exciting changes, I am confident that the restructured AABS is poised to deliver even greater value to our clients. Join us on this journey!

www.aabs.tax

06/22/2025

In March of this year, I recognized the urgent need for a system that would enable my clients to mitigate their financial challenges. In pursuit of this objective, I enrolled in a certification program.

I am pleased to announce that I have successfully completed my certification as a Chief Financial Officer (CFO). With this qualification, I now provide monthly consultations to my clients, assisting them in achieving a consistent and positive cash flow.

I collaborate with professionals who excel in their respective fields but face financial difficulties that they may not know how to resolve.

Currently, I am offering a complimentary financial assessment to identify the root of your financial issues. Subsequently, I will work with you to implement effective solutions and, as I like to say, “stop the bleeding.”

To schedule a Right fit call with me me
Www.calendly.com/aabstax

12/30/2024

Happy New Year! As we step into 2024, I want to extend my heartfelt gratitude for your trust and support. Your partnership is invaluable. To celebrate, I’m offering a special discount of $50 off your tax return if payment is made by January 1. Let’s continue to foster compassionate relationships and achieve financial success together this year.

06/25/2024

Effective July 1, 2024, there will be a change in the Periodic Report filing fee, which will see an increase to $25. This adjustment comes as a result of a new law passed by the Colorado State Legislature, mandating that the Department of State provide counties with a reimbursement of 45% of election costs for any ballot content certified by the state.

Secretary of State Jena Griswold has expressed her opposition to the imposition of these new reimbursement costs on Colorado business owners. She highlighted the fact that the state legislature has decided to raise the county election reimbursement rate and shift the financial burden onto businesses in the state.

As a result of this legislative decision, starting July 1, the annual business filing fee will be set at $25. Despite this increase, Secretary Griswold emphasized that this fee will still remain one of the lowest in the nation.

Remember, a periodic report is due every year on the month you incorporate. Filing late incurs a $50 fee. Need help? Contact me now.

719-820-0159 or www.calendly.com/aabscos to schedule a FREE 30-minute Consultation call with me.

05/12/2024

I consider myself extremely fortunate to have the wonderful clients that I do, and I truly value each and every relationship that I have cultivated or am currently building. The trust and connection I share with my clients is something that I hold dear and work hard to maintain.

While some may advise me to hold onto every client, I firmly believe in the importance of quality over quantity. In certain situations, I have had to make the difficult decision to part ways with a client who may not align with my values or work ethic. I believe that it is better to remove one negative influence in order to protect the integrity and well-being of the rest of my client base. Just as a rotten seed can spoil the whole plant, it is essential to prioritize the health and success of my business by making tough decisions when necessary.

05/07/2024

Greetings to all the thriving businesses in our community! As a dedicated and experienced bookkeeper, I am committed to helping you achieve financial success and see your business flourish. With my expert financial advice, customized bookkeeping solutions, and unwavering support for your growth, we can work together to strengthen our local economy one ledger at a time.

I understand the unique challenges that small businesses face, and I am here to provide you with the tailored assistance you need to thrive. Whether you need help with financial planning, bookkeeping services, or guidance on how to maximize your profits, I am here to support you every step of the way.

Don't hesitate to reach out to me today to discuss how we can work together to make your business thrive. Let's join forces and create a prosperous future for our community!

To schedule a FREE 30-minute Consultation call with me
www.calendly.com/aabscos

www.aabscos.com
567-200-2086
719-820-0159

02/28/2024

To all my tax clients that want to see me in-person. Please contact me sooner than later as my schedule is filling up fast

I will be in Colorado Springs March 5 -12... please contact me asap to schedule an appointment with me if you want to see me during that time...

01/17/2024

Advanced Accounting & Business Solutions isn't your typical accounting firm. With 29 years of experience, we specialize in serving small to mid-size businesses across the U.S., providing them with peace of mind and helping them build better businesses. We're not just bean counters - we go above and beyond to lower your tax liability. Plus, with our shared file system, you can access your account anytime. Experience the difference with us!

01/17/2024

It's that time of year again and we decided to run a $75 off sale on all prepaid tax returns for new clients this tax season. I can only take a few more clients right now, so please call us at 567-200-2086 to get on our schedule.

We are not your typical bean counter and we truly care about our clients... come experience the difference with us today.

01/13/2024

Last change to file a 2020 tax return or amendment if you are expecting a refund...

April 15, 2024 is the last day to file your original 2020 tax return to claim a refund.

The law gives taxpayers who fail to file their income taxes three years to submit a return and claim a refund. Generally, the three-year countdown starts on the due date of the return, including extensions.

If you haven't filed your 2020 tax return or amendment then you need to call our office today... you only have 3 months to file...

We take on all your stress and get you the lowest tax liability legally

[email protected]
719-820-0159
567-200-2086

01/13/2024

April 15, 2024 is the last day to file your original 2020 tax return to claim a refund.

The law gives taxpayers who fail to file their income taxes three years to submit a return and claim a refund. Generally, the three-year countdown starts on the due date of the return, including extensions.

If you haven't filed your 2020 tax return or amendment then you need to call our office today... you only have 3 months to file...

We take on all your stress and get you the lowest tax liability legally

[email protected]
719-820-0159
567-200-2086

01/07/2024

How to pay yourself without setting off IRS alarms…

Are you sending the wrong message to the IRS at tax time? The hard truth is that if you’re not paying yourself properly, you could be setting off red flags and risk getting audited.
So, how do you pay yourself the right way to avoid an unnecessary headache, and possibly save yourself thousands on your tax return?
If I’ve piqued your interest, keep reading. The next three steps are for you!
Step 1: When you have your own business you earn money two ways: S Corp distributions and taking a salary.
Distributions are the profits (and losses) that pass through the S Corp to you as an owner (shareholder).
These are not your employee wages and are not treated as self-employment income.
You don’t have to pay payroll taxes on distributions from your S Corp.
Salary is the money you pay yourself as an employee of the S Corp - your employee wages or reasonable compensation.
You have to pay payroll taxes on your salary, like any other employee.
And payroll taxes can add up fast!
So any income you take as distributions rather than salary saves you that cost in taxes.
Now, before you get excited… the IRS has a basic guideline to keep anyone from taking all their gross receipts as distributions rather than a salary…
It’s that you have to pay yourself a reasonable salary.
Step 2: Define “reasonable salary” for an S Corp.
The IRS defines “reasonable salary” as at least what other businesses pay for similar services.
It’s mostly up to you to decide how much employee salary to pay yourself versus how much to take as distributions.
Step 3: Alright, let’s talk about HOW to make salary payments to yourself!
Once you organize your business as a legal entity, paying yourself gets more complicated than just collecting money from clients/customers.
It’s very important to operate like a business with employees, even if you’re the only one on the payroll.
Check requirements for your state on what your business has to pay as an S Corp since each state has different rules and contributions.
Now, as an S Corp, it's up to you to determine how often to pay yourself.
While some owners choose to pay themselves a salary only once annually it’s smart to pay yourself at least quarterly…
Because your business might have to make quarterly payroll and income tax payments and file quarterly employment tax returns.
And if you ever need more money, you can take a shareholder distribution at any time.
That can be a simpler and more tax-efficient way to boost your income periodically because you won’t withhold taxes on distributions.
Here’s a little insider tip…
You don’t have to pay yourself the same salary every payday. You can pay yourself a relatively small salary every quarter and then pay yourself a hefty year-end bonus.
Ultimately, running a Business-of-One taxed as an S Corp can be a smart way to save a good amount of money on your taxes.
The goal is to meet your tax requirements while paying yourself the amount you deserve. You wouldn’t pay an employee an unfair wage so why accept it for yourself?
At the end of the day, complying with S Corp tax requirements and all of the other legal requirements that come with running a business can be time-consuming and frustrating.
Many business owner choose to hire a tax professional to ensure everything is done correctly.
It’s essential to keep the IRS from getting interested in your business, so don’t take any chances – get the help you need to make sure you’re paying yourself the right way!

If you need help with processing payroll for yourself.. please call 719-820-0159 today for a free consultation...