Blog
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Not-for-profits: Important changes ahead
By Gary Iskra,
Sep. 6th, 2016
On August 18, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, representing the first time s...
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New Minimum Wage Takes Effect Friday, July 1
By Eric Bell,
Jun. 30th, 2016
Oregon's new minimum wage law takes effect on Friday, July 1, 2016, and employers have a few things to do in order to be prepared.
Each employer's to-do list depends on the type of workers they have:
If your business empl...
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Pass-Through Tax Rates
By Joseph Lewis,
Jun. 7th, 2016
2015 marked the beginning of reduced personal income tax rates in accordance with Oregon House Bill 3601. The bill provides for reduced personal income tax rates on non-passive, flow-through income from S corporations, partnerships, and limite...
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Military Tax Benefits
By Eric Bell,
May. 19th, 2016
Military personnel make great sacrifices serving our country, some personal and some financial. Our great state of Oregon recognizes those sacrifices and offers some special tax privileges to compensate for th...
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Gambling Losses
By Emily Anderson,
May. 12th, 2016
Sometimes dealing with the IRS feels like rolling the dice at the craps tables in Vegas, because you never know what you are going to get. In order to put the odds in your favor of winning against the house (the IRS) there are a few things you...
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Why it Might be Smart to Extend Your Income Tax Return
By Glenn Munro,
Mar. 28th, 2016
Co-Author: Riana Linsky, CPA
Have you ever put your tax return on extension? If so, were you worried? Many taxpayers have misconceptions about what an extension is and the imp...
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Initiative Petition 28 (IP 28)
By Eric Bell,
Feb. 1st, 2016
During 2016, the voters of Oregon will have a chance to vote on Initiative Petition 28 (IP 28). IP 28 purposes a 2.5 percent gross receipts tax on any Oregon sourced gross receipts in excess of $25 million for C-Corporation.
In order for O...
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The Tax Benefits of Claiming Real Estate Professional
By Eric Bell,
Jan. 25th, 2016
Qualifying as a real estate professional has been important to those in the real estate profession for years – doing so means that the taxpayer is not subject to the general rule that rental income is per se passive regardless of the taxpayer&...
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How banks can manage vendor cybersecurity risk
By Paul Nielson,
Jan. 15th, 2016
All banks recognize the importance of cybersecurity. But effective cybersecurity must extend beyond the boundaries of your organization to include the various third parties that have access to your systems and data....
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Claiming the Residential Energy Credit for Geothermal Heat Pump Property
By Eric Bell,
Jan. 11th, 2016
Tax credits are available for individual taxpayers who install energy-efficient property in their residences. Section 25D(a) provides for a credit against a taxpayer's income tax equal to 30 percent of the expenses incurred for installing certai...
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