It’s Tax Time! Tips to Get Organized

It’s Tax Time! Tips to Get Organized

The beginning of a new year means Tax Season is on the horizon. Here are some tips to help get you organized. Look for your tax forms. Forms W-2, 1099, and 1098 will start hitting your inbox or mailbox in the next couple of weeks. If you have not already done so,...
Year-End Tax Cutting Ideas

Year-End Tax Cutting Ideas

Yes, there are moves you can make to reduce your taxable income. But the year is quickly coming to a close, so plan accordingly. Tax loss harvesting. If you own stock outside a tax-deferred retirement plan, you can sell your under-performing stocks by December 31 and...
SALT Workaround for State Taxes in 2022

SALT Workaround for State Taxes in 2022

The following article written by Randy Sprenger, EA, our Estate & Trust Manager applies to S Corps and Partnerships and their owners. What is SALT? No, it’s not just pepper’s companion. In the tax world, SALT stands for State And Local Tax, and is the...

Oregon Paid Leave

Effective January 1, 2023 employers are required to start making contributions to the Paid Leave Oregon fund.  The law applies to both public and private employers with one or more employees, and self-employed individuals may opt in for coverage. Employers with...

Washington Capital Gains Tax

The Washington 7% tax on capital gains in excess of $250,000 went into effect January 1, 2022. During the year the courts ruled the tax as unconstitutional and invalid.  The State has appealed the ruling to the Washington Supreme Court.  While the appeal is pending...
Ways to Claim (Tax) Credit for Going Green

Ways to Claim (Tax) Credit for Going Green

If you’re planning energy-efficient home improvements or considering the purchase of an electric vehicle in 2023, The Inflation Reduction Act (IRA), signed into law in August, may hold some tax breaks for you. The climate portion of the 2022 Inflation Reduction Act...