New Tax Breaks Benefit Millions

New Tax Breaks Benefit Millions

The recently-passed American Rescue Plan Act contains several tax breaks for you and your family. Here are the major provisions of the bill that could mean more money in your pocket during the 2021 tax year. Child tax credit (CTC) The CTC for 2021 increases from...
Answers to Common Tax Questions

Answers to Common Tax Questions

With the April 15 tax filing deadline right around the corner, here are answers to some common tax questions.   When will I get my refund?  The pandemic and additional stimulus payments will, in all probability, delay refund payments. But as of now here are the old...

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...
Common IRS Surprises

Common IRS Surprises

No one likes surprises from the IRS, but they do occasionally happen. Here are some examples of unpleasant tax situations you could find yourself in and what to do about them. An expected refund turns into a tax payment. Nothing may be more deflating than expecting to...
IRS Announces Common Tax Scams

IRS Announces Common Tax Scams

The IRS recently announced its 2020 edition of its annual Dirty Dozen list of tax scams with a special emphasis on aggressive and evolving schemes related to COVID-19 tax relief, including Economic Impact Payments. Here are six of the more common scams....
NEW Tax Rules for 2020!

NEW Tax Rules for 2020!

Here are several new tax laws passed this year to consider as you start planning your 2020 tax obligation. Make up to $300 of charitable contributions. For the 2020 tax year only, an above-the-line deduction of $300 is available to all Americans who want to make a...