The U.S. Supreme Court has issued its highly anticipated decision in South Dakota v. Wayfair, overruling Quill’s decades old physical presence sales tax nexus standard. This decision will have significant implications for almost all industries, but especially consumer products (retailers) and industrial products. This case dealt with whether a state has the authority to require…

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EMAIL SCAM ALERT

Our spam filtering partner  is reporting a high incidence of scam email designed to trick you into launching viruses on your computer. This virus circulating is the UPS/Fed Ex/USPS Delivery Failure. You will receive an e-mail from UPS, Fed Ex, or USPS along with a packet number. It will say that they were unable to…

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Max out your contribution and deduction limits. This is $5,500 ($6,500 if 50 or older), to a traditional or Roth IRA. This also applies to each person in a marriage, even if one spouse does not have taxable compensation. April 18th 2016 is the deadline for your 2015 contribution. Avoid excess contribution. Anything above the…

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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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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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Why it Might be Smart to Extend Your Income Tax Return By Glenn Munro, CPA and Riana Linsky, of Isler CPA Have you ever put your tax return on extension? If so, were you worried? Many taxpayers have misconceptions about what an extension is and the implications of filing an extension. What is a tax…

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