Blog: Accounting Unbuttoned

Where Perkins explores accounting topics and news.

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What’s in a Kicker?

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Oregon is putting a portion of your 2014 Oregon taxes back into your pocket. As mandated by the Oregon Constitution, the rebate is to be issued when the calculated revenue for a given biennium exceeds the forecast revenue by at least two percent. (Not) A Pile of Money The kicker will be in play for…

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Perkins & Co Announces Promotions

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It’s been a wonderfully busy year for us. We’d like to announce the promotions of the following individuals: Masa Yamaguchi –  International Tax Senior Manager Matt Park – Audit Senior Manager Chalayane Woodke – Tax Senior Manager Andrea Reed – Tax Manager Congratulations everyone!   Author: Marketing Department

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10 Tips on How to Deduct Losses from a Natural Disaster

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We are all painfully aware of the wildfires that have ravaged the forests of the Pacific Northwest in the last few weeks and continue to burn throughout the region. You may even have friends, family or clients whose property was in the path of the fire. Here’s a short article to review as the smoke…

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The Perkins Field Guide to Tax Reform

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Where’s the comprehensive tax reform we’ve been hearing about for the past few years? 2010’s Simpson-Bowles plan, although it had fairly widespread bi-partisan support, resulted in no actual legislation; Republican Dave Camp released a widely-cited road map in early 2014, which has not been taken up in any meaningful way; Oregon’s own Senator Wyden, now…

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Do I Need an Identity Protection PIN to File My Return?

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Many taxpayers, who had difficulty filing their 2013 federal tax returns due to identity theft or potential fraud, as well as many tax practitioners, are confused about how to file their 2014 federal tax returns. Taxpayers who informed the IRS that they were a victim of identity theft or suspected they were a potential victim…

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TPR Update: Small Businesses Need Not File Forms 3115

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Last Friday the 13th was one to remember at Perkins & Co! After months of gearing up to prepare Forms 3115 for nearly all of our business clients, we learned Friday that the IRS is no longer requiring small businesses to file them to comply with the new tangible property regulations (TPRs). Around here, this is…

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Deducting a Home Office: Simpler May Be Better

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For those of us who go to a downtown office every weekday, the benefits of working from home glow brightly: no morning commute and working in sweatpants! My kitchen, my coffee! Walking my own dog! And, perhaps, a nice tax deduction for using a home office. As we will discuss below, qualifying for a home…

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Congress Passed The Tax Increase Prevention Act of 2014

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We held off writing our year-end message with hopes that Congress would provide clarity for taxpayers before 2014 is over. We finally got what we were looking for! The Senate passed H.B. 5771, The Tax Increase Prevention Act of 2014 (the “Act”) late on December 16th. The Act previously passed the House on December 3rd,…

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AICPA Warning – Is your Employee Benefit Plan Auditor Qualified?

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On December 3, 2014 the AICPA Employee Benefit Plan Audit Quality Center issued a Plan Advisory, The Importance of Hiring a Quality Auditor to Perform Your Employee Benefit Plan Audit. The advisory was prepared to provide plan sponsors, plan administrators, and trustees with an understanding of the importance of hiring a qualified auditor to perform their…

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The New Tangible Property Rules Take Effect Now

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As the expression goes, change is inevitable. This year, change in accounting method may also be inevitable. We’ve previously discussed the far-reaching IRS regulations on the deductibility of repairs, maintenance and supplies costs. Those rules provide complex guidelines for determining whether a cost can be expensed in the current year. The regulations also provide avenues…

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