Corporate Coffee of Oregon: Boys & Girls Club

Corporate Coffee of Oregon: Making Motorcycle Dreams Come True!

Join us on May 18 for Corporate Coffee of Oregon. Our guest speaker is Marc Gore from Salem Harley-Davidson!

Welcome to Our New Client Portal!

Our new client portal (Share Safe) makes it easy to send and receive files securely between two parties. Unlike email, all correspondence through the portal is private. You can send up to 20 files per message, up to a limit of 1 GB total size.

Our Client Portal will change on May 1 to Share Safe. We encourage our clients to utilize the link below to send files to our staff.

 

Click Here to Access Share Safe

Or copy and paste this URL into your browser:

https://www.clientaxcess.com/sharesafe/#/dpwcpas

 

Corporate Coffee of Oregon: Dream Chaser or Dream Weaver

Corporate Coffee of Oregon: City of Keizer

Corporate Coffee of Oregon: Optimize Your Productivity & Get the Right Things Done!

Corporate Coffee of Oregon: New Shepherd Films

2017 Pressing Issues: 1099s, Personal Property, and more

Border 2
As the end of the year approaches we want to let you know about some pressing issues that need to be addressed no later than January 31, 2017.

tax_forms

New Due Date for W-2’s
W-2 and W-3 government forms need to be filed by January 31, 2017 along with W-2’s to each employee. It is a new requirement to file with Social Security the same date as providing W-2’s to each employee.

Form 1099
As you recall, businesses are required to prepare these annual information returns for certain amounts paid to individuals in the course of the conduct of the trade or business (amounts paid to corporations are not subject to these requirements, except attorneys). These payments include interest paid in excess of $10.00 and payments for rents or services in excess of $600.00.

A copy of the 1099 is to be furnished to the recipient by January 31, 2017. Copies of 1099-MISC reporting non-employee compensation in Box 7 must be filled with the IRS by January 31, 2017. All other 1099’s must be filled by February 28, 2017.

Oregon requires anyone with 10 or more 1099-MISC or 1099-R (retirement) to be filed electronically. For less than 10, there is no requirement to file with Oregon.

Personal Use of a Corporate Auto
W-2 forms MUST include any owners/employee’s personal use of a company-owned or leased vehicle. This amount is included in calculating Social Security tax. We have the information to help you calculate the amounts to report to your payroll service. You should notify your payroll service before they process your last payroll for the calendar year, otherwise you could incur additional charges.

Personal Property Return
Most businesses that own or lease equipment and other types of personal property are required to file a personal property return with the county assessor by March 15, 2017. You may or may not receive the necessary form for this purpose from the assessor at the beginning of 2017. Extensions are no longer available and penalties will be assessed on late filed returns.

If you need our assistance in preparing any of these forms, or have any questions regarding filing requirements, please contact us as soon as possible.

Mileage Logs
The IRS has recently been auditing business mileage reimbursements and expenses, travel logs and personal use of corporate vehicles. If you have not already done so, please keep track of business mileage and personal mileage especially if you are deducting actual expenses in your corporation. Keep a travel log in your vehicle; keep receipts for repairs, gas and other related items.

S Corporation Health Insurance on W-2
Health Insurance for S Corp officers must be reported on their W-2’s. Please contact your accountant if you have questions.

If the company uses an outside payroll service, the payroll service should be provided with this information prior to the end of the year so that it can be included in the shareholder employee’s Form W-2. If the information is not provided to the payroll service in a timely manner, most payroll services will generally charge an additional fee for rerunning any affected Form W-2s.

If you process your own payroll, work with your accountant to be assured of proper reporting.

Oregon Sick Time
If you are an employer that has 10 or more employees, make sure you are following the Oregon sick time rules. Each employee receives 1 hour of sick time for every 30 hours worked or up to 40 hours a year.

New Overtime Rules for Exempt Employees has been Halted
With December 1 just around the corner, a federal judge put the brakes on the Department of Labor’s new federal overtime rule implementation. For now, the overtime rule will not take effect as planned December 1, but it could still be implemented later down the road. Employers may continue to follow the existing overtime regulations until a decision is reached.

SUI Rate Change for Payroll Tax
If you receive a letter from the Employment Department for State Unemployment Tax rate change, please update your SUI rate as of January 1, 2017. If you are using a payroll service, please send the letter to them so they have accurate information to begin processing payroll in January 2017.

McGilchrist & Roth 100 Year Anniversary!

Join us on Wednesday, November 9 to celebrate the 100 year anniversary of the McGilchrist & Roth Buildings!

100-year-invite

Corporate Coffee of Oregon: Salem Health

Be sure to join us on November 17 for Corporate Coffee of Oregon. Our guest speaker is Bryce Petersen from Salem Health!

corporate-coffee-graphic-nov-2016-small