Previous News Updates

Recall the storms from last year? Regrettably, they are looming once more! Join us to understand the optimal timing for filing a claim, the repercussions of zero claims on your policy, and strategies to steer clear of storm chasers post a CAT storm.

Guest speakers Tanner Brown from Tanner Brown - State Farm Insurance Agent and Taunya Crews from All Phase Restoration will elucidate the dos and don'ts concerning claims.

Arrive early to engage with Wellington Businesses and relish a delectable breakfast from Slurpz.

Several Sponsorship levels are available. This is a great event to showcase your business to over 75 people! Click on the flyer to learn more about our sponsorship packages or purchase tickets.

Thank you to our sponsors, Chairman Circle Investors, State Farm -Tanner Brown, TDS, Kacygraphics and Novus Glass!

Grow Your Business in 2024

The Annual Community Guide and Directory Marketing Team is ready to assist you

dawn.smartmarketing@gmail.com

970-686-5805

Upcoming Workshops and Programs at the SBDC

Facebook 101

Getting your business on Facebook can seem like a daunting task.

In this course, we will show you how to create your Facebook Business page, Optimize your page for your business sector, open a Facebook Ads account, Install the Facebook Pixel on your website, walk through Facebook Business Manager tools, and discuss the types of content to use on Facebook.

April 17, 2024

Register Here

Best Practices for Instagram

Your Instagram profile is a small piece of your business’ marketing presence. Your feed is a public portfolio of your work and welcoming aesthetic for new and existing customers. However, is what you are posting really working, attracting and speaking to your ideal customer?

In this interactive hands-on masterclass you will learn:

• How to keep Instagram fun and avoid burnout.
• How to make your analytics work for you.
• 5 things you can start doing immediately to improve your reach and start converting more likes to dollars.
• Plus more insider tips.

April 24, 2024

Register Here

REEly amp up your digital marketing with Instagram Reels/Short Form Video

Short-form video is quickly growing in popularity; think Reels/Tik Tok. 

In this class, Jade will discuss the basics of what short-form video is and how to implement it into your business’s digital marketing plan.

The last half of the class will be hands-on!

• Please bring three, 20-30 second videos saved to your phone or tablet on which you use your social media
• Together we will create and post one short-form video to your business feed before you leave the class

May 1, 2024

Register Here

Best Practices for Pinterest

Your Pinterest profile is a small piece of your business’s marketing presence.

Your presence is a public portfolio of your work and welcoming aesthetic for new and existing customers.

Is what you are posting really working? Attracting and speaking to your ideal customer?

In this interactive hands-on class you will learn:

• How to create a powerful Pinterest presence
• What and when you should be posting to Pinterest
• 5 things you can start doing immediately to improve your reach and create a new direct source of web traffic
• And more insider tips

May 8, 2024

Register Here

New Federal Reporting Requirement for Beneficial Ownership Information (BOI)

As of January 1, 2024, many companies in the United States now have to report information about their beneficial owners, i.e., the individuals who ultimately own or control the company. They will have to report the information to the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury. 

Who Has to Report?

Companies required to report are called reporting companies. Reporting companies may have to obtain information from their beneficial owners and report that

information to FinCEN. 

When Do I Report?

Reports are being accepted as of January 1, 2024.

• If your company was created or registered prior to January 1, 2024, you have until January 1, 2025, to report BOI.
• If your company was created or registered on or after January 1, 2024, and before January 1, 2025, you must report BOI within 90 calendar days after receiving actual or public notice that your company’s creation or registration is effective, whichever is earlier.
• If your company was created or registered on or after January 1, 2025, you must file BOI within 30 calendar days after receiving actual or public notice that its creation or registration is effective.
• Any updates or corrections to beneficial ownership information that you previously filed with FinCEN must be submitted within 30 days.

Learn More

The Colorado Department of Revenue has created the following wage withholding tax forms to help employers meet the new requirement of House Bill 23-1006.

DR 0995, Notice of Federal and State Refundable Tax Credits. This form provides the notice language that employers must provide to employees who receive a Colorado wage and tax statement (form W-2). Beginning with tax year 2023, employers must provide this language annually to each employee, either electronically or by print.

The Department has also updated the following wage withholding tax forms to account for changes to federal income tax deductions and to the Colorado Child Tax Credit in House Bill 23-1112.

• DR 0004, Colorado Employee Withholding Certificate. This form gives employees the option to adjust their Colorado wage withholding according to their specific tax situation. If an employee does not submit this form, the employer will calculate their withholding based on their federal withholding certificate, form W-4. Employees may update their withholding certificate for 2024, but they are not required to.
• DR 1098, Colorado Withholding Worksheet for Employers. This worksheet prescribes the method for employers to calculate Colorado wage withholding, based on the employee’s Colorado form DR 0004 or federal form W-4. Employers must begin using the updated calculation for pay periods beginning on or after January 1, 2024. 

For additional information and resources regarding Colorado withholding, go to Tax.Colorado.gov/Withholding-Tax.

U.S. Small Business Administration

Notice to PPP and COVID EIDL Borrowers in Default 

The U.S. Small Business Administration will begin referring defaulted PPP and COVID EIDL borrowers with loans under $100,000 to the U.S. Treasury Department and the Internal Revenue Service for collection beginning March 4, 2024.

What does this mean? 

Small business borrowers who are referred to Treasury and IRS for collection may face significant consequences, including: 

• Negative impact on credit scores; 
• Withholding of future state and federal tax refunds and any potential federal government funding (such as social security); and,
• Referral of your loan to private debt collectors to pursue repayment, who may use tactics like wage garnishment.   

What can borrowers do? 

If you have a PPP loan under $100,000, follow the instructions at www.sba.gov/PPPForgiveness to complete your PPP forgiveness application by March 3, 2024. If your lender is not participating in the SBA direct forgiveness portal, you will need to contact them directly. You can find a list of participating in the SBA direct forgiveness portal here.

If you have a COVID EIDL loan under $100,000, visit Manage your EIDL at SBA.gov.

Need assistance? Contact SBA at 877-552-2692.

This communication is not intended to collect outstanding debts from individuals or entities currently undergoing bankruptcy proceedings.