It is the middle of August and like most people you are probably enjoying the summer season. I particularly enjoy the long days, warm nights, and time with my family. Also, most likely, taxes are the furthest from your mind at this point in the summer. “Who needs to think about taxes in the middle…
Back in 2020, while COVID was raging on, Congress passed the Cares Act in order to provide relief for those businesses and individuals suffering from the negative effects that COVID was having on our economy. Within the Cares Act there was a credit called the Employee Retention Credit (ERC). The credit provided for a 50%…
I am sure most of us are happy that 2020 is finally over with and we are moving on to a new year, 2021. However, let’s not celebrate too early. With the new year comes new taxes if you are a business owner located in Eugene or are an employee of a business owner located…
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. …
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…
This information has been re-posted in full from IRS.gov here. Check IRS.gov for the latest information: No action needed by most people at this time IR-2020-61, March 30, 2020 WASHINGTON — The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and…
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…
This is the eighth installment of our monthly tax blog on the Tax Cuts and Jobs Act. Over the last seven months we, at Isler CPA, have been sharing with you selected sections of the new tax law and the impact it may have on your personal and business tax returns. In order to make…
This is our sixth installment of our monthly tax blog on the Tax Cuts and Jobs Act. Today, I will be addressing a question we (here at Isler) have been getting, and which we know has been on some of your minds lately, and that is, “With the new standard deduction, do I still need…
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…