Is Inheritance Taxable?

Is an Inheritance Taxable?

, ,
A frequent question is whether inheritances are taxable. This is a frequently misunderstood question related to taxation and can be complicated. When someone passes away, all of their assets will be subject to inheritance taxation, and whatever…
tax tips, portland, oregon

How Long Should You Hold On To Old Tax Records?

,
Article Highlights: The general statute: 3 years Longer durations in some states Fraud, failure to file and other issues that extend the statute’s duration Keeping the actual return Ordering copies of previously filed returns This…

Procrastinating on Filing Your Taxes?

,
If you have been procrastinating about filing your 2017 tax return or have not filed other prior year returns, you should consider the consequences, including the penalties, interest, and aggressive enforcement actions. Plus, if you have a refund…
tax tips

Got a Letter from the IRS?

, ,
Article Highlights:  Confirm the Letter Was Not Sent in Error Examine the Contents Avoid Procrastination, Which Leads to Bigger Problems Send Any Payments Consider Change-of-Address Complications Be Aware of ID Theft If…
business advisors, portland, oregon

Summer Employment For Your Child

, ,
Article Highlights Higher Standard Deduction IRA Options Self-Employed Parent Employing Your Child Tax Benefits Summer is just around the corner, and your children may be looking for summer employment. With the passage of…
isler, business advisors, portland

Choosing Your Accounting Method Under New Tax Laws

, ,
Businesses today must take a closer look at their accounting methods. Since the passage of new tax laws, with changes to thresholds for choosing accounting methods, all companies need to take an inward look at their current accounting methods…
isler northwest, cpa firm, portland

I Didn’t File My Tax Return; Now What?

,
There are a lot of perfectly reasonable reasons for not having filed your income taxes. Many people who fail to file are new to the job market, and never having filed before may simply have been unaware of the requirement to do so. Some people…
tax tips, portland, oregon

Preparing for Taxes for 2018 and Beyond

, , ,
Article Highlights: Increase In Standard Deduction Loss of Personal Exemptions Changes to Itemized Deductions Bunching Strategy Employee Business Expenses Business Expensing 20% Flow-through Income Deduction Change…
portland, accountants, business advisors, isler

You May Not Get a Tax Refund Next Year

, , ,
Article Highlights:  Payroll Withholding W-4 2018 Tax Projection Adjusting Withholding With all of the tax reform changes and the corresponding reductions in most taxpayers’ income tax withholding, there are serious concerns…
isler northwest, portland

Don’t Toss Those Tax Records Yet!

, ,
Article Highlights: Reasons to Keep Records Statute of Limitations Maintaining Record of Asset Basis  Even though the 2017 tax due date has come and gone, and even though you have filed your 2017 tax return, you may still need…