Blog: Accounting Unbuttoned

Where Perkins explores accounting topics and news.

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U.S. Estate Tax for Non-US Decedents

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“What on earth is an estate tax?” As there are many foreign countries that do not have estate/inheritance taxes, this is a question you might hear when dealing with the executor of a non-US decedent who left certain assets located in the US. Estate tax is a tax levied on the net value of the…

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Net Investment Income Tax for 1040 Filers: First Year Thoughts

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Since the Affordable Care Act was passed in 2010, there have been plenty of articles discussing one of its new taxes, the Net Investment Income Tax (NIIT), which assesses an additional 3.8% tax on the investment income of individuals and trusts. (For instance, we posted a planning article, Minimizing “Net Investment Income”  in May of…

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Are You Saving Enough for Retirement?

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Day in and day out you’re bombarded with endless variations of that same question. Invariably, this question leads to the topic of a 401(k). It’s promised as the panacea for your dim, penniless future. But the signal to noise ratio can be deafening, and, often times, confusing. So let’s attack this topic with some firm…

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Perkins & Co Adds Two Shareholders

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August 19, 2014 Portland, Ore. – Perkins & Co, Portland’s largest locally owned public accounting firm, is excited to announce the promotion of Jennifer Elder and Travis Irving from Senior Managers to Shareholders. Author: Marketing Department

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Could You be an Oregon Resident and Not Even Know It?

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We recently posted about the federal tax consequences of owning a vacation home. This post explores a possible Oregon tax consequence for non-Oregon residents who own vacation property in Oregon. Considering moving outside of Oregon? This post also lays out some factors the Oregon Department of Revenue considers when determining your state of residency. Let’s…

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Vacation: It’s Time to Get Away!

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Whether you love the beach, mountains or desert, Oregon offers plenty of scenery for us to enjoy. Places to hike, ski, bike, fish, rock-climb, kayak, or just read a good book in a beautiful place. It’s your vacation and the options are endless! In honor of the vacation season and its pleasures and temptations –…

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The Benefits of Tax Planning

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Expert advice bombards the casual observer on a daily basis with ways to tax plan and achieve the greatest benefit for your unique situation. But like pop radio love songs, over-identification with what you hear can lead to misunderstanding and error. Understand that the advice you might read in the paper or see on television…

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What’s FATCA Got to Do with Me?

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To any individual who has a foreign bank account and to any person with tax reporting responsibilities for a multinational business, this post is for you! If you work in taxation, you’ve probably seen the abbreviation FATCA, which stands for Foreign Account Tax Compliance Act. You may also know that it is a tax act…

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Judge Overturns Oregon’s Same-Sex Marriage Ban

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Federal judge Michael McShane ruled on May 19th that Oregon’s prohibition on same-sex marriage was unconstitutional. We devoted a lot of space last summer to the tax consequences of the unraveling of the Defense of Marriage Act, including its consequences for state income tax filings. In October of 2013 we reported that Oregon had administratively…

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Clippers Buyer Will Pay More Than Sterling…More Like a Pile of Gold

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Current Clippers owner Donald Sterling paid a mere $12 million for the team over 30 years ago. The price that he’ll receive, should he be forced to sell the team, will be fodder for discussion in college finance classes for years to come. A recent Journal of Accountancy article explores the factors that could be…

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