1. What is the Corporate Activity Tax? a. A corporate activity tax is imposed on each person (Defined in Question #4) with taxable commercial activity (Defined in Question #2) doing business in this state. b. The corporate activity tax imposed for each calendar year shall equal $250 plus the product of the taxpayer’s taxable commercial…

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This is our fifth installment of our monthly tax blog about the Tax Cuts and Jobs Act. This blog will revisit a topic discussed in our third installment, however this blog post will focus on how the Qualified Business Deduction affects specifically rental properties. General Overview of Qualified Business Income Deduction The Qualified Business Income…

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This is the third installment of our monthly tax blog about the Tax Cuts and Jobs Act. In our two previous posts, we discussed changes to individual tax rates, exemptions, the standard deduction, and itemized deductions. In this post, we will conduct an overview of the Section 199A deduction, which is also known as the…

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With the new tax reform recently being passed, taxpayers are wondering what they can do to plan and save on taxes for 2017. One idea that is starting to make the rounds is to pre-pay property taxes for the 2018 -2019 property tax year in 2017. The Oregon Department of Revenue recently released guidance on…

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Important Tax Update

In the last few days we have seen one of the largest tax law reforms in thirty years, make its way through congress and is headed to the President’s desk to sign. The new tax reform will make fundamental changes in the way you, your family and your business calculate your federal income tax bill,…

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