Merger and acquisition deals are experiencing a flight to quality. Multiples of EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) are holding steady, but volume has dropped. During the seemingly invincible days of 2007, average multiples were 6.2-times EBITDA. In 2009, multiples lowered to 5.4-times EBITDA. “That really is not that bad,” said Chris Blees, […]
Accountants at Biggs Kofford did a double take last week when they saw that tax planning information on the Colorado Department of Revenue Web site had changed. Relying on information they had initially received from the DOR, accountants from the firm released information notifying taxpayers that excess revenue collected under the state’s Taxpayer’s Bill of Rights would not only mean they were entitled a refund from the state but also an opportunity for tax breaks in the form of the expanded Colorado source capital gain subtraction, charitable contributions subtraction, interest and dividend subtraction and the child care or child tax credit.
It’s tax season, and that also means it’s tax-scam season. The Internal Revenue Service has issued the 2006 “Dirty Dozen” – its latest tally of some of the most notorious tax scams. In recent months, IRS personnel have noted the emergence of two new scams – “zero wages” and “Form 843 tax abatement.” In both cases, filers use IRS forms to claim that their tax bills have been wrongly inflated.
ANB Bank began construction on a new downtown banking center Monday afternoon. Representatives from ANB Bank, Bryan Construction and the community attended a ground breaking ceremony. The new $5 million banking center will be a three-story, 18,000 square foot building, located on the southwest corner of Cascade Avenue and Cimarron Street. ANB Bank will occupy […]
It appears the customer has won the fight about debit card fees, but Colorado banks could lose millions, said Don Childears, Colorado Bankers Association president and CEO. This week, the Associated Press reported that Bank of America Corp. is scrapping its plan to charge a $5 monthly fee for debit card purchases after outraged customers […]
Colorado Springs native Jason Hann sees potential everywhere he looks — in Colorado Springs, in local businesses, in networking groups. The 35-year-old consultant has started several groups designed to bring people together and create new possibilities. Hann has a degree in business administration from Regis University and will finish his master’s degree in organizational leadership […]
Sturm Financial Group is consolidating two of its banking groups, folding Premier Bank under the ANB Bank name. Premier Bank in Kansas and Missouri has been a longtime member of Sturm Financial Group Inc., an independent bank holding company located in Denver. The parent company also owns ANB Bank. “We are consolidating our two banking […]
Predictions of impending disasters, such as Y2K or recessions, cause investors to make irrational investment choices for which they often suffer severe financial losses. “There is a tendency in humans to think the worst of times is just around the corner,” said Bud Rainsberger, president and founder of Rainsberger Wealth Advisors. “Stock market gains, coming out of a recession, tend to be robust.
The amount of delinquent student loans was $3 billion during the first two months of the year, an increase of more than 36 percent from a year ago, said the latest National Consumer Trends Report form Equifax. Balances in bankruptcy cases remained level at $.5 billion, according to the report. The increase in derogatory or […]
If you’re unfulfilled at work, stuck on the corporate treadmill or recently lost your job — that doesn’t necessarily mean you should seek out venture capital or start your own business. Investing in entrepreneurs who have “no chance” at success squanders resources and “misdirects human capital,” said Thomas Duening, El Pomar Chair for Business and […]
U.S. Bank has opened its first office to provide Small Business Administration loans in the Colorado Springs market. Operating as U.S. Bank SBA Division, the new office is located at 6 S. Tejon St. in downtown Colorado Springs. Jackie Gonzalez, a Colorado Springs resident, will lead the new office as business development officer. She has more […]
The national credit card delinquency rate (the ratio of borrowers 90 or more days past due) decreased to 0.57 percent in the second quarter of 2013 from 0.63 percent in the second quarter of 2012, according to TransUnion, an international credit information firm. In Colorado Springs, the 90-day credit card delinquency rate fell from 0.57 […]