Imagine having filed and paid your taxes last year, then months later you get a letter in the mail from the IRS saying you didn’t. That’s what’s happening to many taxpayers this year thanks to automated notices being sent by the IRS. But if you got one, don’t panic. There’s a fair chance the IRS simply hasn’t seen what […]
Don’t panic if you got a scary IRS notice Read More »
Investors in cryptocurrencies may be sitting on big profits. Bitcoin and Ethereum, the two largest cryptos, are up 100% and 470% this year, respectively. Solana, another major coin, is ahead 13,300%, while the “joke” token Dogecoin has gained 49,000%. While the profits may have enriched crypto owners, taxes may be coming due soon, and the
Own Crypto? Here’s How to Avoid Running Afoul of the IRS. Read More »
Forms 1099 Businesses (including Schedule C’s, farms, and rentals) are required to prepare these annual informational returns for certain amounts paid during conduct of their trade or business. Recipient copies are required to be issued by January 31, 2022. We will be issuing more detailed information on this subject before the end of the year,
Upcoming Due Dates and Important Info Read More »
Congratulations if you are reading this and you found a new job! We know that these past few years have been extremely hard on a number of industries and finding a job can be very difficult. We hope with your new job you feel mostly excited, and we can take away some of the stress
New Job! Should I change my withholdings?… How do I fill out my W4? Read More »
You read that right! Your business can earn up to a $9,600 tax credit for each new person you hire. How? The Work Opportunity Tax Credit (WOTC) is a federal tax credit that encourages employers to hire people facing barriers to employment. Qualifying individuals include some veterans, individuals who have received government assistance through various
Save Money AND Hire New Employees-Work Opportunity Tax Credit Read More »
With bitcoin, you can run afoul of the IRS in a few surprising ways, so it pays to learn the rules. The big picture? Bitcoin and other cryptocurrencies that you buy, sell, mine or use to pay for things can be taxable. Also, if your employer or client pays you in bitcoin or other cryptocurrency,
Bitcoin Taxes in 2021: A Guide to Tax Rules for Cryptocurrency Read More »
It feels great to get a high price for the sale of your home, but watch out: The IRS may want a piece of the action. That’s because capital gains on real estate are taxable sometimes. Here’s how you can minimize or even avoid a tax bite on the sale of your house. How does a
Selling a House? Avoid Taxes on Capital Gains on Real Estate in 2021 Read More »
An eligible business may receive a tax-free federal grant equal to the
amount of its pandemic-related revenue loss, calculated by subtracting its 2020 gross receipts from its 2019 gross receipts.
RESTAURANT REVITALIZATION FUND Read More »
What is CAT? A tax imposed for the privilege of doing business in Oregon This tax is in addition to any other taxes or fees imposed under the tax laws of Oregon This tax is imposed on the seller/service provider, not on the purchaser This tax is an annual privilege tax for the calendar year
Oregon Corporate Activity Tax Read More »
Are you a livestock producer whose operation has been directly impacted by the coronavirus pandemic? The Coronavirus Food Assistance Program provides direct relief to producers who faced price declines and additional marketing costs due to COVID-19. The Coronavirus Food Assistance Program, or CFAP, provides vital financial assistance to producers of agricultural commodities who have suffered
Livestock and the Coronavirus Food Assistance Program Read More »
