Ideas to Lower Your 2021 Tax Bill

Ideas to Lower Your 2021 Tax Bill

Now is the time to begin tax planning for your 2021 return. Here are some ideas: Contribute to retirement accounts. Tally up all your 2021 contributions to retirement accounts so far, and estimate how much more you can stash away between now and December 31. Consider...
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...