Beyond the Numbers
Our Beyond the Numbers blog is published with articles on a monthly basis.
New NetClient CS Portal
We're happy to introduce a new, secure client portal called NetClient CS. NetClient CS allows better, more convenient communication exchange between us and allows us to securely share and download sensitive documents. This will replace Sharefile for all document...
Three Tips to Improve Your Cash Position
Here are three ideas to help improve your business' cash position. Focus on accounts receivable. The time value of money says that a dollar today is worth more than a dollar tomorrow (or at some point in the future). Remember the best way to improve cash flow is to...
Watch Out For These Unexpected Tax Surprises!
No one likes surprises from the IRS, but they do occasionally happen. Here are some examples of tax situations you could find yourself in and what to do about them. Kids getting older tax surprise. Your children are a wonderful tax deduction if they meet certain...
Year-End Tax Cutting Moves to Consider
Here are moves you can make to reduce your taxable income. But the year is quickly coming to a close, so plan accordingly. Max out pre-tax retirement savings. The deadline to contribute to a 401(k) plan to get a 2023 taxable income reduction is December 31st. So...
Ingredients of a Successful Business Partnership
Like a bundle of sticks, good business partners support each other and are less likely to crack under strain together than on their own. In fact, companies with multiple owners have a stronger chance of surviving their first five years than sole proprietorships,...
Oregon Paid Leave
Effective January 1, 2023 employers were 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 less...
Washington Capital Gains Tax
The Washington 7% tax on capital gains in excess of $250,000 went into effect January 1, 2022. This tax will generally be imposed on Washington residents but could also apply to nonresidents with transactions occurring in Washington, and individuals with ownership of...
Meals and Entertainment Deductions
Meals are back to being only 50% deductible after being 100% deductible during the pandemic. Businesses should have three categories of meals and entertainment to account for the following: Non Deductible: Entertaining clients, prospects, etc. even if a business was...
Personal Property Taxes
Property tax not only applies to real property, but also applies to personal property that is owned and used in a business. Personal property includes leasehold improvements, machinery, equipment, furniture and supplies. It does not apply to inventory. All...
1099 Reporting Requirements
Taxpayers who have an active trade or business are required to prepare Form(s) 1099 to report various types of payments made during the year. The filing requirement does not include payments made to corporations unless it is a payment for legal services rendered....
