When it comes to income taxes, two things tend to be true every year. The first is that April will always roll around yet again, whether you like it or not - which means that it's in your best interest to make sure your tax filing needs are…
https://www.islernw.com/wp-content/uploads/2023/05/Blog-header-image-the-irs-updates-tax-scams-to-be-aware-of-for-2023-and-beyond-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2023-05-15 12:00:462023-05-13 16:59:08The IRS Issues Update to the Tax Scams to Be Aware of For 2023 and Beyond
Warning Signs That You Should STOP Managing Your Own Books
On the one hand, it's almost a prerequisite for entrepreneurs of all types to have that "can-do spirit." That sense that nobody else sees things quite like they do so, whatever it…
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If you've been following the news recently, you're no doubt familiar with the talk about the Internet Revenue Service hiring new agents during a time when they've been critically understaffed for years. Indeed, the IRS is expected to receive…
https://www.islernw.com/wp-content/uploads/2023/05/Blog-header-image-worried-about-getting-audited-heres-what-you-need-to-know-about-your-chancecs-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2023-04-27 12:00:092023-05-01 18:23:08Worried About Getting Audited? Here’s What You Need to Know About Your Chances
May 2023 Individual Due Dates
May 10 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during April, you are required to report them to your employer on IRS Form 4070 no later than May…
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Article Highlights:
Flexible Spending Accounts
Common Features of an FSA
FSA Allowable Medical Expenses
Unused Amounts (Use It or Lose It)
Health Savings Accounts
Enrolled in Medicare
Covered Under a High-deductible…
https://www.islernw.com/wp-content/uploads/2023/04/Blog-header-image-what-is-the-difference-between-hsa-and-health-fsa-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2023-04-20 12:00:482023-04-25 16:26:06What is the Difference Between an HSA and a Health FSA?
Article Highlights:
General statute is 3 years
Some states are longer
Fraud, failure to file and other issues can extend the statute
Keeping the actual return
Taxpayers often question how long records must be kept and the…
https://www.islernw.com/wp-content/uploads/2023/05/Blog-header-image-2023-when-can-you-dump-old-tax-records-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2023-04-18 12:00:482023-05-01 19:04:50When Can You Dump Old Tax Records?
Article Highlights:
Pay-as-You-Earn System
Withholding and Payment Forms
IRS On-line Withholding Estimator
Situations Triggering Underpayments
Safe Harbor Payments
True Safe Harbor
Under federal law, taxpayers must pay…
https://www.islernw.com/wp-content/uploads/2023/04/Blog-header-image-dont-get-hit-with-irs-underpayment-penalties-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2023-04-13 18:05:432023-04-25 16:14:36Don’t Get Hit with IRS Underpayment Penalties
Think for a moment about the many ways that the world has changed since Steve Jobs first introduced the iPhone to the world in 2007.
Overnight, entire industries were upended. Nobody needed a standalone camera because they were suddenly carrying…
https://www.islernw.com/wp-content/uploads/2023/05/Blog-header-image-has-technology-disrupted-your-business-model-heres-what-to-do-next-IRS-tax-problems-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2023-04-11 12:00:472023-05-01 19:51:50Has Technology Disrupted Your Business Model? Here’s What to Do Next
To say that things are uncertain right now when it comes to the economy is, in all probability, a bit of an understatement.
Inflation is at levels we haven't seen in decades. Employment costs are rising across the board. Materials in a number…
https://www.islernw.com/wp-content/uploads/2023/05/Blog-header-image-want-to-improve-your-cash-flow-shorten-the-amount-of-time-it-takes-to-get-paid-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2023-04-06 12:00:452023-05-01 18:29:33Want to Improve Your Cash Flow? Shorten the Amount of Time it Takes to Get Paid
Article Highlights:
Early-Withdrawal Penalties
Reduction in Retirement Savings
Exceptions from the Early-Withdrawal Penalty
If you find yourself looking for a quick source of cash, your retirement savings may look like a tempting…
https://www.islernw.com/wp-content/uploads/2023/05/Blog-header-image-looking-for-quick-cash-avoid-your-retirement-savings-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2023-04-04 12:00:012023-05-01 18:22:21Looking for Quick Cash? Try to Avoid Retirement Savings
The IRS Issues Update to the Tax Scams to Be Aware of For 2023 and Beyond
Scams, SecurityWarning Signs That You Should STOP Managing Your Own Books
Accounting, Self-EmploymentWorried About Getting Audited? Here’s What You Need to Know About Your Chances
2023 Taxes, AuditImportant May 2023 Due Dates
2023 Due DatesWhat is the Difference Between an HSA and a Health FSA?
Health Insurance, Health Savings Accounts, Healthcare, InvestmentWhen Can You Dump Old Tax Records?
Tax Planning, TaxesDon’t Get Hit with IRS Underpayment Penalties
Tax Planning, Tax TipsHas Technology Disrupted Your Business Model? Here’s What to Do Next
Business, Business DevelopmentWant to Improve Your Cash Flow? Shorten the Amount of Time it Takes to Get Paid
Finance TipsLooking for Quick Cash? Try to Avoid Retirement Savings
Retirement, Savings