Beyond the Numbers

Reasonable Compensation in an S Corporation

BackgroundThe IRS has recently hired as many as 2500 new agents specifically trained in spotting shareholders who pay themselves too small of a salary while taking too many distributions. Catching these companies results in a big payoff for the IRS in the form of taxes, penalties and interest which are typically more than double the…

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Oregon Corporate Activity Tax

Oregon has established a new Corporate Activity Tax for all business entity types that conduct business in Oregon. Businesses with Oregon commercial activity in excess of $750,000 are required to register for the Corporate Activity Tax. A return is required to be filed when the Oregon commercial activity exceeds $1 million in gross receipts. Businesses…

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The Power of Cultivating Gratitude: Tips on How to be Thankful

It costs nothing to say thank you. Yet cultivating gratitude in your life may be one of the most rewarding moves you can make. Not only does it invoke warm fuzzies in everyone involved, expressing your appreciation may actually improve your health and well-being. A landmark study by gratitude researcher Robert A. Emmons has shown…

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Reminder: Major Employment Tax Deadlines

Handling employment taxes can be complicated, especially when you’re required to file important tax documents throughout the year. Here’s a list of key forms and deadline dates to help keep you on track. Form 941 — Employer’s quarterly federal tax returnThis form is used to report income tax withheld from employees’ pay and both the…

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2020 Social Security Benefits

Take a look at how Social Security benefits have changed. Use the below infographic to help you plan for the coming year, and to learn a little more about retirement benefits and taxes.

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Save Money With These Year-End Ideas

There’s still time to reduce your potential tax obligation and save money this year (and next). Here are some ideas to consider: Estimate your 2019 and 2020 taxable income. With these estimates you can determine which year receives the greatest benefit from a reduction in income. By understanding what the tax rate will be for your…

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5 Ways Payroll Services Boost a Business

Is a payroll provider right for you and your business? While it is an added expense, there are good reasons to add a partner to help with this service. Here are five things to consider: Allows full attention on growing the business. If a portion of employees is focused on managing and processing payroll, business growth…

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Reminder: Time to Start the Financial Aid Process

If you have a child in college or entering college during the next school year, you need to read this. You can now fill out your required Free Application for Financial Student Aid (FAFSA) for the next school year. FAFSA application timeframe The Free Application for Federal Student Aid (FAFSA) process opened on Oct. 1….

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Amazon and eBay Sales Tax ALERT!

If you or your business sells product on Amazon using the Fulfillment by Amazon (FBA) service, you are well into the multi-state sales tax mess … even if you are not aware of it. You may be asking yourself: Do I now need to register my business with every state and collect tax on their…

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Bill collector calling? Know your rights

Maybe you’re behind on paying your bills because of circumstances outside of your control. Or perhaps there’s been an error in billing. Either way, these scenarios may lead to a run-in with a debt collector. Fortunately, there are strict rules in place that forbid any kind of collector harassment in the U.S. If you know…

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