As the end of the year is upon us, we encourage you to think of planning moves that will help lower your tax bill for this year and possibly the next. Factors that compound the planning challenge this year include turbulence in the stock market, overall economic uncertainty, and Congress’s all too familiar failure to…

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Oregon’s new minimum wage law takes effect on Friday, July 1, 2016, and employers have a few things to do in order to be prepared. Each employer’s to-do list depends on the type of workers they have: If your business employs workers who report to a fixed location and work there every day, be prepared…

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2015 marked the beginning of reduced personal income tax rates in accordance with Oregon House Bill 3601.  The bill provides for reduced personal income tax rates on non-passive, flow-through income from S corporations, partnerships, and limited liability companies that are taxed as partnerships. For those who are unaware, this is income ordinarily listed on Schedule…

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Military Tax Benefits

Military personnel make great sacrifices serving our country, some personal and some financial. Our great state of Oregon recognizes those sacrifices and offers  some special tax privileges to compensate for these sacrifices. If you serve in the military, or are considering enlisting, here are some of the tax breaks Oregon offers for you to keep…

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Gambling Losses

Sometimes dealing with the IRS feels like rolling the dice at the craps tables in Vegas, because you never know what you are going to get.  In order to put the odds in your favor of winning against the house (the IRS) there are a few things you should know about when reporting your gambling…

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During 2016, the voters of Oregon will have a chance to vote on Initiative Petition 28 (IP 28). IP 28 purposes a 2.5 percent gross receipts tax on any Oregon sourced gross receipts in excess of $25 million for C-Corporation. In order for Oregon voters to make an informed decision on IP 28, it is…

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Tax credits are available for individual taxpayers who install energy-efficient property in their residences. Section 25D(a) provides for a credit against a taxpayer’s income tax equal to 30 percent of the expenses incurred for installing certain energy-efficient property in a qualified dwelling unit. Properties eligible include solar electric, solar water hearing, fuel cell, small wind…

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