There's an old saying that reminds us "if you fail to plan, you plan to fail." Whoever coined that phrase was talking about the world of small business accounting whether they realized it or not.
Financial and tax literacy aren't just an…
https://www.islernw.com/wp-content/uploads/2022/05/Blog-header-image-why-proactive-planning-is-more-important-than-you-realize-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-05-03 21:22:212022-05-03 22:20:05Why Proactive Planning is More Important Than You Realize
Article Highlights:
Statute of Limitations
Filing Before April Due Date
Filing After April Due Date
Extension
Amended Returns
Three-year Statute
Understatement Exceeds 25%
No Filing or Fraud
Ten-year Collection Period
…
https://www.islernw.com/wp-content/uploads/2022/04/Blog-header-image-owe-the-irs-money-how-long-do-they-have-to-collect-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-04-28 12:00:392022-05-03 20:19:06Owe the IRS Money? How Long Do They Have to Collect?
May 2022 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 10.…
https://www.islernw.com/wp-content/uploads/2022/04/Blog-header-image-may-2022-due-dates-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-04-26 12:00:362022-05-03 20:19:13May 2022 Due Dates
Article Highlights:
Qualifications
Actual Expense Method
Simplified Method
Home Office Expenses for Renters vs. Homeowners
Deduction Limitation
How Moving Affects the Home-Office Deduction
Other Issues
If you are a…
https://www.islernw.com/wp-content/uploads/2022/04/Blog-header-image-you-may-qualify-for-a-small-home-business-deduction-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-04-21 12:00:052022-04-22 22:10:50You May Qualify for a Small Business Home Office Deduction
Article Highlights:
Reason for Conversion
Basis
Depreciation
Cash Flow versus Tax Profit or Loss
Passive Losses
Home Gain Exclusion
Other Tax Issues
Becoming a Landlord
With the current substantial appreciation…
https://www.islernw.com/wp-content/uploads/2022/04/Blog-header-image-tax-issues-that-arise-when-converting-a-home-into-a-rental-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-04-19 12:00:382022-04-22 22:10:54Tax Issues That Arise When Converting a Home into a Rental
Article Highlights:
Tax Credit
Credit Phase-Out
Determining the Credit
Off-Road Vehicles and Golf Carts
Allocation Between Business and Personal Use
Credit Reduces Basis
Business Standard Mileage
If you are considering…
https://www.islernw.com/wp-content/uploads/2022/04/Blog-header-image-electric-vehicles-tax-credit-phasing-out-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-04-14 12:00:132022-04-11 21:44:11Electric Vehicle Credits Phasing Out
Article Highlights:
Tapping Your Retirement Savings
Traditional IRAs and Qualified Retirement Plans
Simple IRAs
Early-Withdrawal Penalties
Reduction in Retirement Savings
Exceptions from the Early-Withdrawal Penalty
Roth…
https://www.islernw.com/wp-content/uploads/2022/04/Blog-header-image-read-this-before-tapping-into-your-retirement-savings-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-04-13 12:00:002022-04-11 21:44:18Read This First Before Tapping Your Retirement Savings
Article Highlights:
Tax-Free Income from Working Abroad
Foreign Earned Income and Housing Exclusions
Foreign Self-Employment Income
Claiming or Revoking the Exclusion
U.S. citizens and resident aliens are taxed on their worldwide…
https://www.islernw.com/wp-content/uploads/2022/04/Blog-header-image-working-abroad-has-huge-us-tax-benefits-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-04-07 12:00:442022-04-11 21:18:28Working Abroad Has Huge U.S. Tax Benefits
You should be running reports in QuickBooks Online on a weekly—if not daily—basis. Here’s what you need to know.
You can do a lot of your accounting work in QuickBooks Online by generating reports. You can maintain your customer and…
https://www.islernw.com/wp-content/uploads/2022/04/Blog-header-image-getting-started-with-reports-in-quickbooks-online-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-04-05 12:00:302022-04-11 20:37:30Getting Started with Reports in QuickBooks Online
April 2022 Individual Due Dates
April 11 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during March, you are required to report them to your employer on IRS Form 4070 no later than…
https://www.islernw.com/wp-content/uploads/2022/03/Blog-header-image-April-2022-due-dates-Isler-Northwest-CPAs-in-Portland-Oregon.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2022-03-28 22:02:102022-03-28 22:32:44April 2022 Due Dates
Why Proactive Planning is More Important Than You Realize
Financial PlanningOwe the IRS Money? How Long Do They Have to Collect?
TaxesMay 2022 Due Dates
Due DatesYou May Qualify for a Small Business Home Office Deduction
Small BusinessTax Issues That Arise When Converting a Home into a Rental
Home Ownership, Rental PropertyElectric Vehicle Credits Phasing Out
Electric Vehicles, Tax CreditsRead This First Before Tapping Your Retirement Savings
RetirementWorking Abroad Has Huge U.S. Tax Benefits
TaxesGetting Started with Reports in QuickBooks Online
Quickbooks, TechnologyApril 2022 Due Dates
Due Dates