Zebarth Consulting LLC

Zebarth Consulting LLCZebarth Consulting LLCZebarth Consulting LLC
Home
Introduction
About
Blank

Zebarth Consulting LLC

Zebarth Consulting LLCZebarth Consulting LLCZebarth Consulting LLC
Home
Introduction
About
Blank
More
  • Home
  • Introduction
  • About
  • Blank
  • Home
  • Introduction
  • About
  • Blank

303-918-5002

Are you over paying Your Taxes!

Are you over paying Your Taxes!Are you over paying Your Taxes!Are you over paying Your Taxes!Are you over paying Your Taxes!

Expert tax services for individuals and businesses

Introduction and Background of Zebarth Consulting

Dan's Background

Dan Zebarth’s mission is to be your financial

guide, to advise you and your business in

such a way that your business can be successful

and increase in value, to assist you in

gaining a work-life balance, and to build your

systems to be efficient and productive.


Dan approaches each client with a mindset

tailored specifically to each individual c

Dan Zebarth’s mission is to be your financial

guide, to advise you and your business in

such a way that your business can be successful

and increase in value, to assist you in

gaining a work-life balance, and to build your

systems to be efficient and productive.


Dan approaches each client with a mindset

tailored specifically to each individual company.

This is key to developing an optimal

plan for any business. After all, each business

has different pathways and therefore

requires personalized strategies.


Dan’s industry experience is extensive, including

healthcare, construction, professional

services, retail, and individuals. He has

successfully helped companies to not only

grow, but attain sustainable achievements in

every aspect. He has taken startups and morphed them into businesses with hundreds of employees with multi-million dollar revenues and international sales. He has assisted practices and businesses with acquisitions, a sale, or a merger based on the owner(s’) goals.


With his CPA license for over 30 years, a

Master’s in Business Administration (MBA),

and his Chartered Global Management Accountant

certification (CGMA), along with

continuing education classes in his field, Dan

is a much needed industry expert. Operating

his own CPA practice for 15 years provided

Dan ample opportunities to assist clients in

either a CFO capacity or a consultancy role

in many private businesses. Dan acquired

priceless experience as the entrepreneur of

Zebarth Advisors & Company and Zebarth

Capital Group. He started both of these companies

and grew them dramatically over a 15

year span until their sale in 2008.


This timely sale enabled him to devote all

his efforts to his largest client as their Sr.

V.P of Finance. This client was a large, vertically-

integrated, specialty medical practice

in Denver. He helped increase their

profitability as well as double the revenues

of the company, to best prepare for its recent

sale to a private equity group from the

east coast.


More than anything, Dan wants to begin a

conversation about your specific business

or individual needs, and where you want to

see you and your company in the future.

Zebarth Consulting Group wishes to not only

help you attain these goals, but continually

prosper from a well-designed strategy.


Dan Zebarth is a well-respected, successful

business and personal advisor who offers a

wide range of services. Dan is known for

his dependable, professional, Christian approach

in business and life. He promises

you a unique client-oriented experience.

See the attached brochure for a listing of

the major services available.

Information About ZCG

Industries Served

Optometry and Medical Practices


Construction and Contracting


Professional Services


Individuals

My Mission

Zebarth Consulting LLC, is dedicated to providing my clients with the highest level of business and consulting services. As the owner, I strive to help clients achieve their goals and reach their full potential.

Major Services Offered

  • Sale of a Practice or Acquisition Planning (Private Equity based or Private)


  • Healthcare Consulting, focused on Optometry, medical and construction.


  • Business Growth Planning


  • Financial Analysis, e.g. Break even, Key metrics, Trending, Comparisons


  • Budgeting, Forecasting and What Ifs


  • Profit Enhancement Planning


  • Cash Flow Analysis


  • Retirement and Life Planning


  • Estimation of your Business's Value

Individual & Business Tax Services

I offer a range of tax services for individuals and all types of businesses. This includes tax preparation and tax planning. I have the expertise to handle even the most complex tax situations and ensure that my clients receive the best possible advice and guidance.  I help businesses navigate the complex tax landscape and minimize their tax liability. 

Recent Newsletter

HR Questions

- If an employee “calls out” via a message with vague information about being ill and has not followed up since, can we consider this a voluntary resignation and start the termination process? Probably not. There could be many reasons why an employee might not have followed up since leaving the original message. There actions could be protected by law, such as protections that might come from the federal Family and Medical Leave Act (FMLA), Americans with Disabilities Act (ADA), state-level family and medical leaves and disability protections, state or local sick leave laws, or state-paid leave programs that come with job protections.

- Do we need to pay a remote employee for a full day if they lose internet for a few hours or more? It depends on their status under the Fair Labor Standard Act (FLSA). Exempt employees need to be paid their full salary for the day, if they did any work before or after the outage (or both). Nonexempt employees only need to be paid for time worked.


IRS, New Security – That will affect you

Multi-Factor Authentication, now required for tax professionals. All tax professionals are now required under the FTC rule to use multi-factor authentication (MFA) to protect our clients’ sensitive information. This change mandates MFA to strengthen account security by requiring more than just a username and password to confirm an identity when accessing any system, application, or device. A key part of tax pro security now revolves around MFA. The extra layers of different authentication factors include something only a user knows, like a username and password; something they have, like a token or random number sequence sent to their cell phone; or something unique, like biometric information. These provide extra assurance that a tax pro’s client, not an impostor, is gaining access. Examples might be smartphones, which use a fingerprint or facial recognition that authenticates their identity before unlocking their device. Certain smartphone applications can also rely on that biometric factor along with a PIN or password for app-level MFA. In addition, taxpayers connecting to the IRS will be asked to set up MFA to create an IRS Online Account. After that, to sign in, they will first log in with an email address and password, then receive a one-time passcode by text or call to one’s chosen device and finally enter the passcode into the account to complete sign-in. It should be used to access client information stored within our tax preparation software. MFA is required by law for all companies – not just tax professionals. Company size does not matter. 


IRS – Child and Dependent Care Credit

The IRS wants to remind taxpayers that summer day camp expenses may count towards the Child and Dependent Care tax credit. Working parents taking care of their younger children (under 13) who send their children to day camps, can also lead to a tax credit. Taxpayers who pay for the care of a child, or other qualifying person, so they could work or look for work may be able to take the credit for child and dependent care expenses. Note: that overnight camps DO NOT count as an expense towards e Child and Dependent Care credit. Depending on income, taxpayers can get a credit worth up to 35% of their qualifying childcare expenses. At minimum, it’s 20% of those expenses. For 2024, the maximum eligible expense for this credit is $3,000 for one qualifying person and $6,000 for two or more. Taxpayers who claim this credit must list the name and address of the day camp on their return, along with the provider’s identification number. 

IRS – Quarter 3 estimated Tax

The IRS is reminding taxpayers that the deadline to submit their third quarter estimated tax payment is Sept. 16, 2024. Taxes must be paid as income is earned or received during the year, either through withholding or estimated tax payments. Taxpayers such as gig workers, sole proprietors, retirees, partners and S corporation shareholders generally should make estimated tax payments if they expect to have a tax liability of $1,000 or more when they file their return.  The smaller of 90% of the tax to be shown on their 2024 tax return or 100% of the tax shown on their complete 12-month 2023 tax return. For high-income taxpayers. If their Adjusted Gross Income (AGI) on your previous year’s return is over $150,000 (over $75,000 if you are married filing separately), you must pay the lower of 90% of the tax shown on the current year’s return or 110% of the tax shown on the return for the previous year. To figure estimated tax, taxpayers calculate their expected adjusted gross income (AGI), taxable income, taxes, deductions and credits for the year. Taxpayers can use the tools on IRS.gov to check if they’re required to pay estimated taxes. The Tax Withholding Estimator, the IRS Interactive Tax Assistant and the worksheet in Form 1040-ES.  Electronic payment is the easiest, fastest and most secure way to make an estimated tax payment. The Payments page on IRS.gov provides complete tax payment information, how and when to pay, payment options and more. Taxpayers can securely log into their IRS Online Account or use IRS Direct Pay to submit a payment from their checking or savings account. Taxpayers can also pay using a debit card, credit card or digital wallet. Direct Pay and the pay by debit card, credit card or digital wallet options are available online at IRS.gov/payments and through the IRS2Go app. Taxpayers can also use the Electronic Federal Tax Payment System (EFTPS) to make an estimated tax payment. Payment by check or money order made payable to the "United States Treasury" is also an option. To avoid a penalty for underpayment Taxpayers who underpay their taxes may have to pay a penalty regardless of whether they paid through withholding or through estimated tax payments. Late and skipped estimated tax payments can incur penalties even if a refund is due when a tax return is filed. Taxpayers could request a waiver of the penalty if they underpaid because of unusual circumstances and not willful neglect. Special rules apply to some groups of taxpayers such as farmers, fishermen, casualty and disaster victims, those who recently became disabled, recent retirees and those who receive income unevenly during the year.


IRS - $1.3 billion recovered from high-income / wealth individuals 

U.S. Secretary of the Treasury Janet L. Yellen and Commissioner of the IRS Danny Werfel delivered remarks where they announced new milestones under Inflation Reduction Act initiatives to ensure wealthy individuals pay taxes owed, improve service for taxpayers through the Digital First Initiative and modernize foundational technology. Ensuring that high-income, high-wealth taxpayers pay taxes owed. The IRS in February 2024 launched an initiative to pursue 125,000 high-income, high-wealth taxpayers who have not filed taxes since 2017. These are cases where the IRS has received third party information—such as through Forms W-2 and 1099s—indicating these people received income between $400,000 and $1 million or more than $1 million but did not file a tax return. With new Inflation Reduction Act funding, the IRS now has the capacity to do this core tax administration work. In the first six months of this initiative, nearly 21,000 of these wealthy taxpayers have filed, leading to $172 million in taxes being paid. The IRS in the fall of 2023 began pursuing high-income, high-wealth individuals who have failed to pay recognized tax debts, with dozens of senior employees assigned to these cases. This work is concentrated on taxpayers with more than $1 million in income and more than $250,000 in recognized tax debt. The IRS was previously unable to collect from these individuals due to a lack of resources. After successfully collecting $38 million from more than 175 high-income, high-wealth individuals last year, the IRS expanded this effort last fall to around 1,600 additional high-income, high-wealth individuals. Nearly 80% of these 1,600 millionaires with delinquent tax debt have now made a payment, leading to over $1.1 billion recovered. The IRS is significantly improving taxpayer service in person, over the phone, and online. Using Inflation Reduction Act resources, the IRS has created and enhanced popular and convenient online tools that save taxpayers time and money, while also reducing phone calls, paper processes, and other burdens on IRS employees. The IRS launched more digital tools in the last two years than the previous 20 years, including. Through the Digital First Initiative. Taxpayers can now:  view the status of refunds and certain audits. Access a complete overview of their account information, including detailed historical data. Access identity protection services, a lien payoff calculator, and the ability to complete the pending installment agreement process using smartphones or tablets—all critical as taxpayers prepare for Filing Season 2025. Improvements, for example, will improve taxpayer service by allowing taxpayers and customer service representatives to access real-time account information in the future. These improvements will also empower IRS to implement tax code changes and emergency benefit programs more quickly, while reducing the costs of maintaining IRS systems. 


Medicare Premium Surcharges (IMRAA)

Medicare Part A is free (hospital charges), Part B (outpatient) and Part D (Drugs) charge monthly premiums. If you are fortunate to have a higher income, there is a surcharge – IMRAA. This added cost can be hundreds of dollars per month. For 2024 the IMRAA kicks in at about $103,000 (single) or $206,000 for married couple, based on a modified adjusted gross income (MAGI) from 2022. MAGI includes taxable: retirement withdrawals, investment income, social security, wages or self-employment income, any gains from the sale of investments or other property. Deductions do not help if your spouse dies since you are considered single. Some ideas to avoid the IMRAA are: Roth withdrawals are tax free and thus do not count (you could convert from an IRA to a Roth prior to receiving Medicare), contribute more to your retirement plans, if still working, use tax-gain harvesting – if you have appreciated stocks or funds – considering selling before you retire. Donate directly from your retirement accounts to a charity (a Qualified Charitable Distribution – QCD). Consider a Medicare Advantage plan – not subject to IMRAA. IMRAA continues throughout all of your retirement years.


Keep More of your Retirement Savings

Retirees who hold employer stock in their 401(k) can make use of a strategy known as net unrealized appreciation (NUA). This strategy is for workers who purchased stock of their employers though their 401(k) over the years and that stock has appreciated in value. If you are at least 59 ½ years old when you retire, you can elect to take a lump sum distribution of the company stock and put it in a taxable account while transferring the remaining 401(k) assets in a tax-free rollover to your IRA. This is a somewhat involved strategy and if it applies to you, this strategy is worth looking into in more detail for tax planning purposes.sulting services, including strategic planning, financial analysis, market research, and more. Our team of experts has the knowledge and experience to help you achieve your goals.

Subscribe

Sign up to receive my newsletter

Contact Me

Contact Me

Zebarth Consulting LLC

303-918-5002

Call or E-mail

Send Me a Message!

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Copyright © 2024 Zebarth Consulting LLC - All Rights Reserved.

Powered by GoDaddy

This website uses cookies.

We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.

Accept