Beyond the Numbers
Our Beyond the Numbers blog is published with articles on a monthly basis.
Plan Your Retirement Savings Goals for 2023
A big jump in cost-of-living calculations means a big jump in how much you can contribute to retirement accounts in 2023! Now is the time to plan your retirement contributions to take full advantage of this tax benefit. Here are annual contribution limits for several...
Alternative Ideas to New Year’s Resolutions
It’s that time again when everyone has high hopes for how they are going to better themselves during the new year. The traditional way many people set goals, however, doesn't seem to be working! According to The Economic Times, only 16 percent of people follow through...
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,...
Fork in the Road: Repair or Replace Your Vehicle
Deciding whether to put more money into an aging car or to replace it with a new or used vehicle is rarely a simple decision. Plus, skyrocketing vehicle prices and economic uncertainty are making the decision process even tougher. Signs it is Time to Replace Your Car...
Identity Thieves Love Tax Season
The vast amount of information shared online during tax season makes it a haven for identity thieves, and they're doing everything they can to take advantage of the opportunity. Below we’ve outlined ways that identity thieves are targeting you, common signs of ID...
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
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 acronym for...
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...
Meals and Entertainment Deductions
In response to the pandemic, businesses were allowed to deduct meals purchased from a restaurant at 100%. That benefit has now expired, and beginning January 1, 2023 meals are back to being only 50% deductible. Businesses should have three categories of meals and...