Operating a winery in Oregon comes with unique financial challenges. From managing inventory to navigating complex tax laws, a CPA specializing in wineries, vineyards, and breweries can be a vital asset. Here’s how: Expertise in Industry-Specific Tax Laws Oregon Tax Credits and Incentives A CPA experienced in Winery/Vineyard tax will help identify and apply these […]
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Oregon’s House Bill 3610, also known as the Task Force on Alcohol Pricing and Addiction Services, is a pivotal legislative proposal that could reshape how alcohol in Oregon is taxed. As the state continues to grapple with addiction services funding, HB 3610 aims to evaluate and recommend adjustments to alcohol pricing, potentially leading to higher
Understanding Oregon’s HB 3610: How Winery Taxes Could Soon Be Raised Read More »
As a small business owner, staying on top of your tax obligations is crucial. Knowing how to make a payment to the IRS (Internal Revenue Service) or the ODR (Oregon Department of Revenue) efficiently can save you time and stress. Here’s a quick guide to help you navigate the process. Making a Payment to the
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Why does BOI Reporting Matter? This new requirement is both significant and broadly applicable to our clients with substantial penalties for non-compliance. We estimate that in our firm’s client base, there are likely between 1000-1500 BOI reporting requirements alone. While the reporting itself is not complex, the specific guideline around this new process is nuanced.
Tax season can be stressful, especially when you’re eagerly awaiting your tax refund. If you find yourself wondering, “Where is my tax refund?” this guide will help you track it, understand potential delays, and provide tips for faster processing. How to Track Your Tax Refund 1. Check Your Status Online The IRS offers a convenient online
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When a loved one passes away, one of the many responsibilities that may fall on the executor of the estate is managing the deceased’s financial and tax obligations. This often includes determining whether you need to file an estate tax return. Here’s a concise guide to help you understand the requirements for filing Forms 1041
Do I Need to File an Estate Return (Form 1041/706) for a Deceased Loved One? Read More »
Payroll taxes can be a significant financial burden on small businesses. However, there are several strategies you can employ to legally reduce your payroll tax liability. This article will guide you through practical and compliant methods to pay less in payroll taxes. 1. Hire Independent Contractors Benefits: Considerations: 2. Offer Fringe Benefits Benefits: Considerations: 3. Utilize Tax Credits
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Paying your kids wages through your business can offer tax benefits while teaching them financial responsibility. However, there are specific guidelines and regulations to follow. Below is a concise guide on how to do it correctly. 1. Establish a Legitimate Job 2. Set Up Proper Documentation 3. Pay a Reasonable Wage 4. Follow Tax Regulations
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Why Storing Tax Returns Properly is Important Properly storing your tax returns is essential for several reasons: How Long Should You Keep Your Tax Returns? The IRS generally recommends keeping tax returns and any supporting documents for at least three years from the date you filed your original return or two years from the date you paid
What Is The Best Way to Store My Tax Returns, And How Long Should I Keep Them? Read More »
Oklahoma State University’s (OSU) recent decision to integrate QR codes on football helmets marks a transformative moment in collegiate sports. This innovative approach offers new financial opportunities for Name, Image, and Likeness (NIL) athletes, while also introducing a myriad of tax and financial considerations. The Innovation OSU’s initiative involves embedding QR codes on players’ helmets.
QR Codes on Football Helmets: What’s Next for NIL Athletes Financially? Read More »
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