Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate… Read more »

It’s not uncommon for adult children to help support their aging parents. If you’re in this position, you might qualify… Read more »

If last year your business made repairs to tangible property, such as buildings, machinery, equipment or vehicles, you may be… Read more »

Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate… Read more »

A tried-and-true estate planning strategy is to make tax-free gifts to loved ones during life, because it reduces potential estate… Read more »

Nonqualified deferred compensation (NQDC) plans pay executives at some time in the future for services to be currently performed. They… Read more »

If you suffer damage to your home or personal property, you may be able to deduct these “casualty” losses on… Read more »

If your 2015 tax liability is higher than you’d hoped and you’re ready to transfer some assets to your loved… Read more »

Tax credits reduce tax liability dollar-for-dollar, making them particularly valuable. Two valuable credits are especially for small businesses that offer… Read more »

When it comes to deducting charitable gifts, all donations are not created equal. As you file your 2015 return and… Read more »

If there was a college student in your family last year, you may be eligible for some valuable tax breaks… Read more »

Today it’s becoming more common to work from home. But just because you have a home office space doesn’t mean… Read more »

Today it’s becoming more common to work from home. But just because you have a home office space doesn’t mean… Read more »

Bonus depreciation allows businesses to recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified… Read more »

By purchasing stock in certain small businesses, you can not only diversify your portfolio but also enjoy preferential tax treatment…. Read more »

For the last several years, taxpayers have been allowed to take an itemized deduction for state and local sales taxes… Read more »

Congress passes “extenders” legislation reviving expired tax breaks for 2015 Many valuable tax breaks expired December 31, 2014. For them to… Read more »

Take retirement plan RMDs by December 31 After you reach age 70½, you must take annual required minimum distributions (RMDs)… Read more »

The year is quickly drawing to a close, but there’s still time to take steps to reduce your 2015 tax… Read more »

Don’t miss your opportunity to make 2015 annual exclusion gifts Recently, the IRS released the 2016 annually adjusted amount for… Read more »

PTO contribution arrangements can help prevent the year-end vacation-time scramble From the Thanksgiving kick-off of the holiday season through December… Read more »

Reduce taxes on your investments with these year-end strategies: While tax consequences should never drive investment decisions, it’s critical that… Read more »

Protect your deduction: Verify that a charity is eligible to receive tax-deductible contributions before you donate Donations to qualified charities… Read more »

If you’re saving for college, consider a Section 529 plan. Although contributions aren’t deductible for federal purposes, plan assets can… Read more »

The first step to smart timing is to project your business’s income and expenses for 2015 and 2016. With this… Read more »

Now may be a great time to refinance, because mortgage rates are still low but expected to increase. Before deciding… Read more »

Your exec comp could be subject to the 0.9% additional Medicare tax or the 3.8% NIIT The additional Medicare tax… Read more »

Starting in 2016, applicable large employers (ALEs) under the Affordable Care Act (ACA) will have to file Forms 1094-C and… Read more »

Should you “bunch” medical expenses into 2015? Medical expenses that aren’t reimbursable by insurance or paid through a tax-advantaged account… Read more »

Selling rather than trading in business vehicles can save tax Although a vehicle’s value typically drops fairly rapidly, the tax… Read more »

Contributing to a traditional employer-sponsored defined contribution plan, such as a 401(k), 403(b) or 457 plan, offers many benefits: •… Read more »

The IRS2Go app can now be used to make payments, as well as check refund status and receive tax tips…. Read more »

You’re a real estate investor, but are you a “professional”? Income and losses from investment real estate or rental property… Read more »

Watch out for tax consequences when hiring telecommuters outside your state If you allow employees to telecommute, be sure to… Read more »

How to determine if you need to worry about estate taxes Here’s a simplified way to project your estate tax… Read more »

When will Congress pass “extenders” legislation to revive expired tax breaks for 2015? With Congress returning from its August recess, this… Read more »

Effective October 1, 2015 there is going to be a liability shift in regards to the party responsible for reimbursing… Read more »

All income investments aren’t alike when it comes to taxes The tax treatment of investment income varies, and not just… Read more »

If your business exports American-made goods or performs architectural or engineering services for foreign construction projects, an interest-charge domestic international… Read more »

What you need to know before donating collectibles If you’re a collector, donating from your collection instead of your bank… Read more »

Teens in your family with summer jobs? Set up IRAs for them! Teenagers’ retirement may seem too far off to… Read more »

Act soon if you want to help your child buy a home Mortgage interest rates are still at historically low… Read more »

Tread carefully when determining compensation for S corp. shareholder-employees By distributing profits in the form of dividends rather than salary,… Read more »

On June 26, the U.S. Supreme Court ruled that same-sex couples have a constitutional right to marry, making same-sex marriage… Read more »

It is time for large employers to start planning for ACA information reporting With the U.S. Supreme Court’s June 25… Read more »

If you are married with a large estate, then a credit shelter trust may be a way to help with… Read more »

If you donate your vehicle, the value of your deduction can vary greatly depending on what the charity does with… Read more »

As the school year draws to a close, it’s a good time to think about Coverdell Education Savings Accounts (ESAs)… Read more »

The Internal Revenue Services (IRS) issued penalty relief for small businesses with “one-participant” plans to file late without penalty…if you qualify… Read more »

Generally, businesses are limited to deducting 50% of allowable meal and entertainment (M&E) expenses. But certain expenses are 100% deductible,… Read more »

The Oregon Supreme Court recently ruled that the Oregon Public employee pension cuts that were passed under SB 822 and… Read more »

A recent bill that passed the Oregon House may make hiring decisions a bit more complex.  A recent bill, known… Read more »

Got ISOs? You need to understand their tax treatment Incentive stock options allow you to buy company stock in the… Read more »

When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs (though of course the specific… Read more »

Still filing a paper return?  Be sure you understand the “timely mailed = timely filed” rule The IRS considers a… Read more »

The deadline for 2014 IRA contributions is April 15, 2015. The limit for total contributions to all IRAs generally is… Read more »

Do you need to file a 2014 gift tax return by April 15? Generally, you’ll need to file a gift… Read more »

If your business has made repairs to tangible property, such as buildings, machinery, equipment and vehicles, you may be eligible… Read more »

You might benefit from deducting investment interest expense on your 2014 tax return Investment interest — interest on debt used… Read more »

If you don’t meet IRS substantiation requirements, your charitable deductions could be denied. To comply, generally you must obtain a… Read more »

Should you forgo a personal exemption so your child can take the American Opportunity credit? If you have a child… Read more »

The “manufacturers’ deduction”: It’s not just for manufacturers   The manufacturers’ deduction, also called the “Section 199” or “domestic production… Read more »

The Oregon House of Representatives has proposed HB 2572 – Carbon Footprint Labeling – which would require carbon footprint labeling… Read more »

Be sure to deduct all of the mileage you’re entitled to You probably know that miles driven for business purposes… Read more »

If you’re like many Americans, you may not start thinking about filing your tax return until the April 15 deadline… Read more »

An annual estate plan checkup is critical to the health of your estate plan. Because various exclusion, exemption and deduction… Read more »

The Tax Increase Prevention Act of 2014 (TIPA) extended through Dec. 31, 2014, a wide variety of tax breaks, including… Read more »

Like individuals, businesses might want to tackle these finance-related projects early in 2015: 1. Renegotiate your lease. You may be… Read more »

The lull that follows the holiday season is a time for reflection and planning. If you’re like most Americans, there… Read more »

Wishing your and yours Seasons Greetings at this time of year. May you enjoy this holiday season!

There are 3 extended tax breaks that you may benefit from if you act by December 31, 2014   On… Read more »

The Taxpayer Prevention Act of 2014  H.R. 5771 was signed by the Senate on Tuesday, December 16th and President Obama… Read more »

Why you should make annual exclusion gifts before year end The 2014 gift tax annual exclusion allows you to give… Read more »

How much time is left to make donations you can deduct on your 2014 return? To take a 2014 charitable… Read more »

The 2015 standard mileage rates have been announced by the IRS. While the price at the pump is going down,… Read more »

If you’re looking to reduce your 2014 tax bill, you may want to consider purchasing a business vehicle before year… Read more »

Business owners aren’t the only ones facing uncertainty about expired tax breaks. Here are the most popular tax breaks for… Read more »

Smart timing of deductible expenses can reduce your tax liability, and poor timing can unnecessarily increase it. When you don’t… Read more »

We’ve recently renovated our website to make it easier for people to use. We’ve changed some minor design elements, made… Read more »

Whether you are new to our site, or returning for a visit, we hope to provide you with timely and… Read more »