Sale of a Primary Residence

Sale of a Primary Residence   07/18/2018 This is just a nutshell of a synopsis and is no way complete—your situation may differ from anybody else’s. If you have lived in and owned your home for 2 full years out of the last 5, you may be able to exclude from income $250,000 of gain. The…

Washington Residents purchasing Goods in Oregon…..Use Tax???

Use tax What is use tax? When is use tax due? How do I pay use tax? What is use tax? Use tax is a tax on the use of goods or certain services in Washington when sales tax has not been paid. Goods used in this state are subject to either sales or use…

Health Insurance still required for 2018!

Individual Shared Responsibility Provision The individual shared responsibility provision requires taxpayers to do at least one of the following: Have qualifying health coverage called minimum essential coverage Qualify for a health coverage exemption Make a shared responsibility payment with their federal income tax return for the months that without coverage or an exemption. Under the recently…

Oregon’s New Transit Tax

  About the tax The 2017 Oregon Legislature passed House Bill (HB) 2017, which included the new statewide transit tax. Parts of HB 2017 related to the statewide transit tax were amended in the 2018 session. On July 1, 2018, employers must start withholding the tax (one-tenth of 1 percent or .001) from:​ Wages of…

Reduce Certain Summertime Costs with the Child and Dependent Care Tax Credit

Reduce Certain Summertime Costs with the Child and Dependent Care Tax Credit Many parents send their children to summer day camps while they work or look for work. The IRS urges those who do to save their paperwork for the Child and Dependent Care Tax Credit. Eligible taxpayers may be able claim it on their…

Summer is here!

At least for a brief minute anyway! I am excited to let you know of upcoming changes here at AccounTax! We will be updating our Website, Facebook, Policies, Procedures and how we share information. These changes will not only improve productivity, accuracy, communication and the client experience. By the end of the summer look for…

Where can I mail my last minute return?

Oregon Post Office Hours on Tax Day If you live in Oregon, your best bet to find a post office open late on Tax Day is Portland. The Portland Airport post office is open until 7 p.m., while the main Portland post office on Hoyt collects mail until 9 p.m. 715 NW Hoyt St. Portland,…

How to file the Arts Tax 2016

Go to Website: www.portlandoregon.gov/revenue/64194 The next page contains Art Tax Forms. This will give a list of Tax Years. Each year will have a choice of On-line filing or Mail-in Form. To file online – for 2016 click on the “Online Filing” and complete the forms on the next few pages. This will request payment…

IRS Refunds…..

IRS Debunks Myths Surrounding Tax Refunds As millions of people begin filing their tax returns, the Internal Revenue Service reminds taxpayers about some basic tips to keep in mind about refunds. During the early parts of the tax season, taxpayers are anxious to get details about their refunds. In some social media, this can lead…

What you should look for in a Licensed Tax Preparer or Consultant

What Should you look for in a Licensed Tax Preparer or Consultant? Tax Preparer Qualifications –Oregon Licensed Tax Preparer and Licensed Tax Consultant. Oregon requires 30 continuing education hours each year a Preparer is licensed. Each Preparer must pass an 80 hour course and pass a 4 hour Oregon State Board of Tax Preparers exam.…