Sarah Smith

FinCEN’s Interim Final Rule: BOI Reporting Update for US Companies and Persons

In a significant update to Beneficial Ownership Information (BOI) reporting requirements, FinCEN (Financial Crimes Enforcement Network) has issued an interim final rule that impacts US companies and individuals. Key Highlights of the New Rule: Why This Change Matters: This rule alleviates compliance burdens for US-based businesses and individuals while narrowing the focus to foreign entities conducting business in the […]

FinCEN’s Interim Final Rule: BOI Reporting Update for US Companies and Persons Read More »

Tax Policy Update: Navigating the Latest Discussions in Washington

As Congress deliberates on potential tax legislation, various proposals and discussions emerge—some with the potential for enactment, while others remain aspirational or purely political rhetoric. This update is designed to help you filter through the noise and focus on what truly matters for your tax planning and compliance. Key Tax Topics Under Discussion Federal Income

Tax Policy Update: Navigating the Latest Discussions in Washington Read More »

Wage Reimbursement Opportunity for Small Businesses in Marion County: 2 months left

Willamette Workforce Partnership is providing a wage reimbursement program to support small businesses in Marion County, Oregon. Eligible employers who hire first-time youth workers between June 14, 2024, and May 30, 2025, can receive $5 per hour in wage reimbursement. Businesses may qualify for reimbursement for up to four youth employees at a time, with a

Wage Reimbursement Opportunity for Small Businesses in Marion County: 2 months left Read More »

College Athletes and NIL Income: Understanding Your Tax Obligations

The Supreme Court’s decision allowing college athletes to earn income from their Name, Image, and Likeness (NIL) has opened up valuable opportunities for student-athletes. However, alongside these opportunities comes the responsibility of understanding tax obligations tied to NIL income. Here’s what you need to know: 1. NIL Income is Taxable Whether you’re paid in cash, free products, or

College Athletes and NIL Income: Understanding Your Tax Obligations Read More »

Tax-Smart Giving: Helping California Wildfire Victims While Earning Tax Breaks

California wildfires leave devastation in their wake, but with generosity and smart planning, you can aid victims while earning federal income tax savings. Here’s a breakdown of how to maximize your charitable impact while staying IRS-compliant. 1. Donate to IRS-Recognized Charities To qualify for a federal income tax deduction, your donations must go to an IRS-recognized Section

Tax-Smart Giving: Helping California Wildfire Victims While Earning Tax Breaks Read More »

When Do I Get My Tax Refund? A Guide for Individuals and Businesses

Tax season often brings a common question: When will I receive my tax refund? Whether you’re filing as an individual or a business, the timeline depends on a variety of factors, from how you file to the complexity of your return. Here’s what you need to know: Tax Refund Timeline for Individuals E-Filing with Direct Deposit Paper

When Do I Get My Tax Refund? A Guide for Individuals and Businesses Read More »

Succession Planning for Farmers in Oregon: A Guide to Secure Your Legacy

Succession planning is crucial for farmers in Oregon, ensuring the continuity of your agricultural business for future generations. Without a proper plan, family disputes, tax burdens, and operational uncertainties can jeopardize your farm’s future. Here’s a concise guide to help farmers in Oregon prepare for a seamless transition. Why Succession Planning Matters Steps in Succession

Succession Planning for Farmers in Oregon: A Guide to Secure Your Legacy Read More »

Am I Eligible for the Agricultural Employer Overtime Tax Credit? A Complete Guide

As agricultural employers navigate the complexities of managing payroll and meeting regulatory requirements, the introduction of the Agricultural Employer Overtime Tax Credit provides a financial cushion. This guide will explore the essential details of this tax credit, its benefits, application process, and important deadlines. What is the Agricultural Employer Overtime Tax Credit? The Agricultural Employer

Am I Eligible for the Agricultural Employer Overtime Tax Credit? A Complete Guide Read More »

Scroll to Top