Contribute up to $2,550; $500 Carryover Option Available to Many. The Internal Revenue Service today reminded eligible employees that now is the time to begin planning to take full advantage of their employer’s health flexible spending arrangement (FSA) during 2016. FSAs provide employees a way to use tax-free dollars to pay medical expenses not covered…

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Summary of Sick Leave Law

The State of Oregon passed a law on June 22, 2015 requiring employers to provide protected sick time to all employees.  This new law goes into effect as of January 1, 2016 and affects all businesses.  We recommend that businesses review their current sick / vacation / PTO policies to ensure these policies are in…

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Any governmental agency that handles cash, checks, gift cards, or money orders is at high risk of fraud or theft. Fraud and theft can be committed by more than just current employees; Vendors and even past employees who still have access to government systems run the risk of perpetrating these crimes. Therefore, it’s paramount that…

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Due to the Affordable Care Act (ACA), every employer with 50 or more full-time employees (including full-time equivalent employees) must report information about its 2015 workforce and health plans to its employees and the IRS using new Forms 1095-C and 1094-C. Small employers with less than 50 full-time employees (including full-time equivalent employees) generally are…

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R&D Credit

The research and development tax credit is often over looked by small to mid-sized businesses.  Often these businesses are either unaware of the potential credit or believe their company doesn’t perform “high-tech” or “ground-breaking” research that would qualify for the credit.  Some businesses even believe the calculation of the credit is too complicated to pursue…

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Nearly a third of small businesses say finding a health insurance plan that fits a wide variety of employees’ needs is their biggest frustration, according to CEB Research. Accountants, as trusted advisors, are often called upon to help small business clients figure out their insurance needs. Accountants can provide unbiased information about the types of…

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The Oregon IDA Tax Credit was renewed by the 2015 Oregon Legislature. With renewal, came changes to the sale of the tax credit to be implemented on Oct. 5, 2015. Here is what’s new for the remainder of 2015: The Tax Credit Rate will be 70% There is no limit for individual donations Here is…

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If you’ve ever dreamed of turning a hobby or vocation into a regular business, there are seven steps Isler CPA encourages entrepreneurs to take to avoid running afoul of the IRS and the Oregon Department of Revenue. Under the so-called hobby loss rules, your deductions for business-type expenses (such as rent, travel, meals or advertising)…

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