Article Archives - Doty Pruett and Wilson, PC

The Oregon National Guard Tax Change: Supporting Our Troops on the Homefront

A Tax Break with a Patriotic Purpose Oregon has taken a remarkable step in recognizing the sacrifices and contributions of National Guard members by implementing a tax break for these dedicated individuals. The tax change specifically impacts the income tax of Oregon National Guard members, providing significant relief for those who serve in this important […]

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IRS Adopts Final Rules on Consolidated Return Split-Waiver Elections

Article / Kelsea Balde

Consolidated groups that acquire new members that were members of another consolidated group can elect to waive all or part of the pre-acquisition portion of an extended consolidated net operating loss (CNOL) carryback period under Section 172 for some loss attributable to the acquired members under final Treasury regulations (TD 9977) released on July 10.

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State and Local Income Tax Issues to Consider Before Making Your Next Tax Payment

Article / Alex Zochert

State and local taxes represent a key and often material part of a business’s total tax liability. Many states are reporting budget surpluses, reducing tax rates and offering new credits and incentives, but states are also looking to expand taxation of the digital and internet economy. With the calendar year 2022 tax reporting and filing season

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Tax Implications Around NIL

Article, Featured / Kelsea Balde

In recent years, the world of college athletics has seen a significant shift with the introduction of Name, Image, and Likeness (NIL) regulations. This means that student-athletes are now able to earn money from endorsements, sponsorships, and other activities related to their personal brand. While this is undoubtedly an exciting development for student-athletes, it also

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Plan Sponsor Alert: Roadblocks to Financial Stability in Crypto Investments

Article / Alex Zochert

This article is part of BDO’s series on the White House’s Comprehensive Framework for Responsible Development of Digital Assets. The federal government has long recognized the need to regulate digital assets. However, it has yet to devise an all-encompassing plan to complete the task. As part of the Biden Administration’s Comprehensive Framework for Responsible Development of

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Managing the Overall Cost of Assets Through Property Tax Planning

Article / Alex Zochert

Did you know that property tax is the largest state and local tax obligation for many businesses and one of the largest annual operating expenses incurred, sometimes reaching 40% of the total tax spent? Given this, has your business done all it can do to minimize its real and personal property tax liabilities? Unlike income

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ERC Updates

Article / Alex Zochert

The employee retention credit (ERC) has been one of the most beneficial forms of pandemic relief for the restaurant industry. However, despite the benefit of cash refunds, the ERC also has been the source of significant frustration among restaurant owners. This article addresses a few of the issues that restaurants face regarding refund processing, IRS

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Important Info and Upcoming Due Dates

Article / Alex Zochert

Today we have brought together important information for the upcoming tax season. With this, we also put together upcoming due dates. Please check these out and feel free to contact the DPW office if you have any questions, comments, or concerns about the information or due dates! Forms 1099 Businesses (including Schedule C’s; farms, rentals, etc.)

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DO YOUR HOMEWORK – 7 THINGS TO LOOK FOR IN AN ACCOUNTING INTERNSHIP

Article / Kelsea Balde

While many internship opportunities may look the same, doing your homework can ensure you find an experience that will support your career development and, quite possibly, even land you your dream gig after graduation. Here are seven tips to help pick the firm that’s right for you: Reading chapters, taking quizzes and tests, listening to

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STUDENT LOAN DEBT RELIEF DO’S AND DONT’S

Article / Kelsea Balde

PROTECT YOURSELF FROM SCAMS INVOLVING STUDENT LOAN DEBT RELIEF YOU ARE YOUR BEST PROTECTION AGAINST SCAMMERS DON’T pay anyone who contacts you with promises of debt relief or loan forgiveness. YOU DO NOT NEED TO PAY ANYONE TO OBTAIN DEBT RELIEF. The application will be free and easy to use when it opens in October. DON’T reveal your FSA

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