Estate planning is often surrounded by misconceptions, particularly the belief that smaller estates equate to simpler estate taxes. This couldn’t be further from the truth. Complexity in estate planning doesn’t necessarily correlate with the size of the estate. In fact, even the smallest estates can encounter intricate tax scenarios and unforeseen complications. It’s a common […]
Common Misconceptions in Estate Planning Read More »
A Tax Break with a Patriotic Purpose Oregon has taken a remarkable step in recognizing the sacrifices and contributions of National Guard members by implementing a tax break for these dedicated individuals. The tax change specifically impacts the income tax of Oregon National Guard members, providing significant relief for those who serve in this important
The Oregon National Guard Tax Change: Supporting Our Troops on the Homefront Read More »
Consolidated groups that acquire new members that were members of another consolidated group can elect to waive all or part of the pre-acquisition portion of an extended consolidated net operating loss (CNOL) carryback period under Section 172 for some loss attributable to the acquired members under final Treasury regulations (TD 9977) released on July 10.
IRS Adopts Final Rules on Consolidated Return Split-Waiver Elections Read More »
State and local taxes represent a key and often material part of a business’s total tax liability. Many states are reporting budget surpluses, reducing tax rates and offering new credits and incentives, but states are also looking to expand taxation of the digital and internet economy. With the calendar year 2022 tax reporting and filing season
State and Local Income Tax Issues to Consider Before Making Your Next Tax Payment Read More »
In recent years, the world of college athletics has seen a significant shift with the introduction of Name, Image, and Likeness (NIL) regulations. This means that student-athletes are now able to earn money from endorsements, sponsorships, and other activities related to their personal brand. While this is undoubtedly an exciting development for student-athletes, it also
Tax Implications Around NIL Read More »
This article is part of BDO’s series on the White House’s Comprehensive Framework for Responsible Development of Digital Assets. The federal government has long recognized the need to regulate digital assets. However, it has yet to devise an all-encompassing plan to complete the task. As part of the Biden Administration’s Comprehensive Framework for Responsible Development of
Plan Sponsor Alert: Roadblocks to Financial Stability in Crypto Investments Read More »
Did you know that property tax is the largest state and local tax obligation for many businesses and one of the largest annual operating expenses incurred, sometimes reaching 40% of the total tax spent? Given this, has your business done all it can do to minimize its real and personal property tax liabilities? Unlike income
Managing the Overall Cost of Assets Through Property Tax Planning Read More »
The employee retention credit (ERC) has been one of the most beneficial forms of pandemic relief for the restaurant industry. However, despite the benefit of cash refunds, the ERC also has been the source of significant frustration among restaurant owners. This article addresses a few of the issues that restaurants face regarding refund processing, IRS
Today we have brought together important information for the upcoming tax season. With this, we also put together upcoming due dates. Please check these out and feel free to contact the DPW office if you have any questions, comments, or concerns about the information or due dates! Forms 1099 Businesses (including Schedule C’s; farms, rentals, etc.)
Important Info and Upcoming Due Dates Read More »
While many internship opportunities may look the same, doing your homework can ensure you find an experience that will support your career development and, quite possibly, even land you your dream gig after graduation. Here are seven tips to help pick the firm that’s right for you: Reading chapters, taking quizzes and tests, listening to
DO YOUR HOMEWORK – 7 THINGS TO LOOK FOR IN AN ACCOUNTING INTERNSHIP Read More »
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