Forms 1099 Businesses (including Schedule C’s; farms, rentals, etc.) are required to prepare these annual informational returns for certain amounts paid during the conduct of their trade or business. Recipient copies are required to be issued by January 31, 2024. In order to meet this deadline, we need you to submit all of your information, […]
Important 2024 Tax Deadlines and Cutoff Dates Read More »
The Internal Revenue Service (IRS) has released the new 2024 contribution limits for investors’ retirement accounts, bringing some noteworthy changes. These adjustments impact 401(k) plans, individual retirement accounts (IRAs), and other retirement savings vehicles. For 401(k) plans, the employee contribution limit will increase to $23,000 in 2024, marking a slight uptick from the previous year’s
Oregonians have a reason to celebrate as the state is set to inject some unexpected cash into the pockets of eligible residents. The Oregon ‘kicker’ program, which refunds surplus state revenue to taxpayers, is making headlines for its remarkable $5.61 billion revenue surplus during the 2021-2023 biennium. This surplus, recently confirmed by the Oregon Office
Oregon ‘Kicker’ Credit: Who Qualifies and What’s It Worth? Read More »
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
Tax Implications Around NIL Read More »
Working in the construction industry will generally create a number of tax deductions. Whether it is traveling to a job site or buying tools to complete a project, you can deduct most of the costs you incur working in construction. By understanding the types of expenses that create a deduction and how to properly document
Tax Deductions for Small Construction Companies Read More »
According to the Internal Revenue Service, the rehabilitation tax credit applies to costs for rehabilitation and reconstruction of some buildings. The credits do not apply to new construction or additions, but do encompass renovations, restoration and reconstruction. The percentage of rehabilitation costs eligible for the tax credit range from 10 percent to 20 percent, depending
Tax Credits for Building Renovations Read More »
