December 15th, 2021 marked the last deposit date for the child tax credit payment expanded under the American Rescue Plan (ARP). Though many had hoped the program would be continued, political leaders are struggling to find a way forward that…
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Article Highlights:
Hobby Versus For-Profit Endeavor
Factors Used to Determine For-Profit
Three out of Five Rule
Hobby Deductions
Sales from Collections
If you are engaged in an activity that produces income, the big tax…
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It’s hard to ignore the real-life impacts inflation is having. While gas and grocery prices are having the most immediate effect, the price of almost everything is going up. People who are looking for ways to counter the impact and preserve…
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Article Highlights:
Withholding
Other Prepayments
Tax Credits
Earned Income Tax Credit
Child Tax Credit
American Opportunity Tax Credit
Recovery Rebate Credit
These days the tax return is used for more than just collecting…
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February 2022 Individual Due Dates
February 4 - 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 10 - Report Tips to Employer
If…
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Article Highlights:
Rough tax season ahead?
Avoiding processing delays
IRS processing time
Don’t procrastinate
IRS customer service problems
This could be another rough tax season for the IRS and taxpayers. Although this…
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Now's the time!
Are you the type who makes New Year’s resolutions? Though the vast majority of those who pledge self-improvement focus on losing weight or exercising more, deciding to brush up on your bookkeeping habits may actually be smarter…
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Article Highlights:
Sec. 529 plans
Coverdell Education Savings Accounts
The Lifetime Learning credit
Qualified Education Loan Interest
Some in Congress have proposed “free” (i.e., government-paid) tuition for community college…
https://www.islernw.com/wp-content/uploads/2022/01/Blog-header-image-planning-for-a-childs-college-expenses-should-start-early-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-01-21 12:00:192022-01-19 23:53:42Planning for a Child’s College Expenses Should Start Early
As the old saying goes, "If you fail to plan, you plan to fail." Whoever coined that phrase was absolutely talking about finances, whether they realized it or not.
According to one recent study, a general lack of financial education costs…
https://www.islernw.com/wp-content/uploads/2022/01/Blog-header-image-crucial-staps-you-can-use-to-take-control-of-your-finaces-in-2022-and-beyond-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-01-19 21:08:452022-01-19 23:45:34Crucial Steps You Can Use To Take Control of Your Finances in 2022 and Beyond
Article Highlights:
Spousal IRA
Compensation Requirements
Maximum Contribution
Traditional or Roth IRA?
One of the fallouts of the COVID-19 pandemic is that millions of people have dropped out of the workforce, particularly…
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What’s Next for the Child Tax Credit?
Tax CreditsHobby or For-Profit Activity? The Answer Makes a Big Difference for Tax Purposes
Tax TipsManaging Your Finances During an Inflationary Period
Economy, Finance Tips, InflationDon’t Think You Have to File a Tax Return? You May Be Missing Out!
TaxesFebruary 2022 Individual and Business Due Dates
UncategorizedAnother Rough Tax Season for IRS and Taxpayers?
Tax News, Tax PlanningBrush Up On Your Bookkeeping Habits
AccountingPlanning for a Child’s College Expenses Should Start Early
College, EducationCrucial Steps You Can Use To Take Control of Your Finances in 2022 and Beyond
Finance Tips, Financial PlanningHow Can a Nonworking Spouse Qualify to Fund an IRA?
Uncategorized