What a year 2020 has been? We have had COVID-19, wildfires here in Oregon, a full moon coming on Halloween, and to top it off a Presidential election. Yes, it is that time again where we, as US citizens, have the opportunity to go to the polls and vote for the candidates of our choice. …
Qualified disaster relief payments received by an employee can be excluded from gross income under the Internal Revenue Code Section 139 Once President Trump declared COVID-19 and the Oregon Wildfires a national disaster under the Robert Stafford Disaster Relief and Emergency Assistance Act, and the IRS’s interpretation of the declaration for other tax purposes, it…
You have probably been hearing about the Payroll Tax Holiday executive order signed by President Trump earlier this month. We finally received a little guidance from Treasury on August 29th, via notice 2020-65 (follow this link to the notice: https://www.irs.gov/pub/irs-drop/n-20-65.pdf ). However, there are still a lot of unanswered questions, and we are urging all…
The Supreme Court is expected to render a decision in 2021 on the validity of the 2010 Patient Protection and Affordable Care Act (ACA) that may impact certain taxes you paid in prior years. There is a remote possibility that the 3.8% net investment income tax, the 0.9% additional Medicare tax, and the individual mandate…
We have considered the guidance of government officials and medical professionals, and in order to protect our clients, staff, and community, Isler has instituted the following changes: As a precaution we will not be accepting any walk-ins or having in-person meetings without prior approval. However, we are still open and conducting meetings over the phone…
Changes to the Paycheck Protection Program (PPP) were signed into law June 5th. Included among these were the following: The original covered period for using the funds was expanded from eight weeks to 24 weeks, and the percentage of funds used for payroll costs was reduced from 75% to 60%. This was great news for…
If you operate an Oregon small business in the travel and tourism industry, you may be eligible for a Travel Oregon grant of up to $10,000.00. The application process opened May 11, 2020, and will close at 5 p.m. Friday, May 15, 2020. The award decisions will be announced on June 3 through email. Preference…
Every two years, the Association of Certified Fraud Examiners (ACFE) publishes their Report to the Nations, which contains a lot of statistics about the occupational fraud cases that CFE’s have helped investigate during the previous year. In the report is a thorough breakdown of the types of fraud committed, the size and duration of the…
All information below is based on the current guidance (as 4/24/2020) provided by the Small Business Administration (SBA), CARES Act, and Internal Revenue Service (IRS).. Please remember that additional guidance can be provided at any time by the SBA or IRS and therefore please do not rely solely on this page. Please contact Isler CPA…
The Oregon Department of Revenue has released new guidance which allows sellers in Oregon to exclude certain income from Oregon’s Corporate Activity Tax (CAT). A seller may exclude receipts from a sale to a wholesaler in Oregon if the wholesaler can certify it has the intent to resell the property out of state. To do…