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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In July 2015, the Oregon Legislature renewed the Tax Credit funding  of the Oregon IDA Initiative. Individual Development Accounts (IDAs) allow low income individuals to earn 3 to 1 matching funds on up to $1000 of individual savings per year (the saver gets a $3,000 match) from a pool of  tax advantaged contributions. Options for…

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The Affordable Care Act (ACA) adds significant new reporting requirements for most employers, especially those with 50+ employees during 2015.  The ACA requires completely new reporting requirements and forms that will take time to understand and prepare. Here are 5 things you should know: The reporting requirements are set forth in sections 6056 and 6056…

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Last year, the IRS issued new regs on the tax treatment of amounts paid to acquire, produce, or improve tangible property, including your rental property. The regs explain when those payments can be deducted, which confers an immediate tax benefit, and when they must be capitalized. These final regs retain many provisions of the temporary…

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2015 Legislature Changes

Overall discussion of 2015 Oregon law changes Paid Sick Leave – Senate Bill 454 Effective January 1, 2016, Businesses with 10 or more workers will be required to accrue 1 hour of paid sick leave for every 30 hours worked, or 1 1/3 per 40 hours worked. This can accrue to a maximum of 40…

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Isler CPA is pleased to announce that the Association of Certified Fraud Examiners (ACFE), the world’s leading provider of anti-fraud training and education, awarded Paul Nielson, CPA the globally preferred Certified Fraud Examiner (CFE) designation. CFE’s are knowledgeable in four areas critical to the fight against fraud: Fraudulent Financial Transactions Criminology and Ethics Legal Elements…

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Late last week the Federal Audit Clearinghouse (FAC) shut down due to a security incident. The official statement from Census is as follows: The U.S. Census Bureau is investigating an IT security incident relating to unauthorized access to non-confidential information on an external system that is not part of the Census Bureau internal network. Access…

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McGladrey announces new global brand name – RSM McGladrey is taking an important step to bring the middle market to the global market. On Oct. 26, 2015, McGladrey will unite with fellow members of the global network, RSM International, under a common brand name – RSM. Isler CPA is a member of the McGladrey Alliance.