Tax Court Decision Holds Potential Impact for Travel Deductions

Tax Court Decision Holds Potential Impact for Travel Deductions

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  There are many professions that require taxpayers to travel extensively and spend significant amounts of time in paid lodging. These expenses are traditionally claimed as travel deductions. However, a case recently heard by the Tax…
Mom-and-Pop-Businesses-Move-to-Front-of-the-Line-for-PPP-Loans

Mom & Pop Businesses Move to Front of the Line for PPP Loans

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Article Highlights: 14-Day Exclusive Application Period for Small Businesses and Nonprofits Limited to 19 Employees Loans Based on Gross Income Rather than Wages Certain Restrictions Removed At the direction of the White House…

How Biden’s Rescue Plan Might Impact Your Taxes

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How Biden’s Rescue Plan Might Impact Your Taxes  Article Highlights:   Economic Impact Payments Unemployment Compensation Minimum Wage Education Assistance Families First Coronavirus Response Act Child Care Tax…

February 2021 Individual Due Dates

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February 2021 Individual Due Dates February 1 - Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you. February 1 - File 2020 Individual…
House Votes Monday on Second $2,000 Stimulus Check After Trump Signs Bill

House Votes Monday on Second $2,000 Stimulus Check After Trump Signs Bill

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From CNET | written by Jessica Dolcourt President Trump signed the stimulus bill on Sunday night, avoiding the government shutdown. Today, the House will vote on $2,000 stimulus checks. Sunday night, after days of criticizing the $600 second…
Oregon Individual Income Tax Guide Revised for 2020

Oregon Individual Income Tax Guide Revised for 2020

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From Thomson Reuters | by Margaret Eisler, Esq. The Oregon Department of Revenue has revised Publication OR-17, Individual Income Tax Guide, for 2020. The publication supplements the Oregon income tax instruction booklet and the IRS Tax Guide:…
IP PINs to Be Available to All Individuals in 2021

IP PINs to Be Available to All Individuals in 2021

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From the Tax Adviser | By Sally P. Schreiber, J.D. Starting in January, the IRS will allow all individuals to receive an identity protection personal identification number (IP PIN). The IRS announced (IR-2020-267 (https://www.irs.gov/newsroom/national-tax-security-awareness-week-…
Help Is on the Way – Emergency Coronavirus Relief Agreement Reached

Help Is on the Way – Emergency Coronavirus Relief Agreement Reached

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Emergency Coronavirus Relief Act of 2020 Stimulus Payments Unemployment Assistance CDC Eviction Moratorium Paycheck Protection Program Loans Earned Income Tax Credit & Child Tax Credit School Funding Child Care …
5 Reasons Why You May Not Receive a Stimulus Check

5 Reasons Why You May Not Receive a Stimulus Check

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From Forbes.com | Kelly Anne Smith Forbes Advisor Staff The harsh economic consequences of the COVID-19 pandemic and the widespread shutdowns needed to contain it are starting to set in. More than 30 million Americans have filed for unemployment…
Need to identify QOF property by December 31st

Qualified Opportunity Zone Rules Are Relaxed– Need to identify QOF property by December 31

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From The Journal of Accountancy, by Sally P. Schreiber, J.D. In Notice 2020-39, the IRS extended some deadlines for investing in qualified opportunity funds (QOF) and relaxed some investment requirements to make it easier for QOF investors…