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Maxfield · Peterson is committed to keeping you up to date with information your business needs to know to be successful in today’s competitive market.

Work Opportunity Tax Credit: What Business Owners Need to Know
The Work Opportunity tax credit (WOTC) is a federal income tax credit that's available to businesses that hire members of[...]
Working Out a Tax-Free Perk
Your company probably offers an array of fringe benefits to its employees, including health insurance and group-term life insurance. While[...]
Republican Tax Framework Proposal
Dear Clients and Friends: Republican lawmakers released a framework for tax reform on September 27, announcing that their goals are[...]
Avoid Retirement Account Rollover Pitfalls
After retiring or leaving a job, your first big tax question might be: What should I do with the money[...]
What You Need to Know About 529 Plan Withdrawals
The big advantage of Section 529 college savings plans is that withdrawals used to cover qualified higher education expenses are[...]
Tax Rules When Your Business Trip Involves a Passport
If you travel a lot on business, you may make some international trips -- as well as trips within the[...]
Remember RMDs this Tax Season
Did you know that, once you turn age 70½, you must start taking mandatory annual withdrawals from your traditional IRAs,[...]
What You Need to Know About the Alternative Minimum Tax
Congress originally devised the alternative minimum tax (AMT) rules to ensure that high-income individuals who take advantage of multiple tax[...]
‘Loan Payments’ Can Be Taxable Corporate Distributions to Shareholders
There can be negative tax consequences when purported loan payments are recast as corporate distributions to shareholders. In some cases,[...]
Rx for Itemizing Medical Expenses
Medical expenses can be costly — and they're not always covered by insurance. But there may be a silver lining:[...]
Must Joint Activities Be Treated as Partnerships?
For federal income tax purposes, an unincorporated joint venture or other contractual or co-ownership arrangement under which several participants conduct[...]
Tax Fraud Awareness: How to Protect Your Identity and Assets
The IRS, taxpayers and tax preparers share a common enemy: identity thieves. We all have a part to play in[...]
Tax Saving Tips
Selling to a Related Party Can Kill Your Tax Losses If you sell property to a related party, you may[...]
SEPs: A Quick and Easy Retirement Plan Option
Setting up and maintaining a simplified employee pension (SEP) is probably easier than you think. The sooner you get started[...]
Can Your Research Credits Offset Your Payroll Tax Bill?
Does your small business engage in qualified research activities? If so, you may be eligible for a research tax credit[...]
Can Pension Benefits Be Deducted as Alimony?
The Tax Definition of "Alimony" Under tax law, a payment is classified as alimony (deductible to the payor and taxable[...]
Save Taxes While Controlling Employee Health Costs
If rising health care costs have sent your company searching for ways to reduce expenses, you should know there are[...]
Know the Rules for Amending a Federal Income Tax Return
What should you do if you discover an error on a previously filed individual tax return? For example, you might[...]
Ten Sources of Tax-Free Income
There are still ways to earn income that is free from federal income tax. With the various tax increases that[...]
Meal Deductions: Tax Rest for the Weary
In one significant case, the U.S. Tax Court allowed a taxpayer to claim deductions for meals that stretch the limits[...]
10 Simple (and Fun) Ways to Cut Taxes This Summer
It's already starting to feel like summer in many parts of the country. But the forecast for Washington remains unclear[...]

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Maxfield Peterson

Grand Junction Office
751 Horizon Court, Suite 102
Grand Junction, Colorado
81506


970.245.3600

Montrose Office
1203 North First Street
Montrose, Colorado
81401


970.249.9074

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640 Sherman St. Suite D Ridgway, CO
81432


970.626.9889

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