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Tax Bulletin December 2017- Individual Tax Updates

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Agreement on Tax Reform – Impact to Individuals Overview On Friday, December 15, a joint conference committee comprised of House and Senate members released an agreed-upon version of the Tax Cuts and Jobs Act (the “Act”). The Act provides the most comprehensive update to the tax code since 1986 and includes a number of provisions…

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Tax Bulletin December 2017- Federal Tax Updates

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Conference Agreement Reached Setting Stage for Enactment Before the New Year Overview This Bulletin discusses the major provisions contained in the conference report. It is important to note that most provisions in the bill expire after December 31, 2025, to comply with Senate budget reconciliation rules. The exception is the reduction in corporate income tax…

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Tax Bulletin July 2017: Privilege Tax for Dealers

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Oregon Transportation Deal Creates New “Privilege Tax” for Dealers Overview On July 6th, 2017 the Oregon legislature passed the $5.3 billion transportation package (Oregon House Bill 2017) which is expected to be signed into law by Gov. Kate Brown. The bill, in part, raises revenue through a 0.5% excise (privilege) tax on dealers for the…

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Tax Bulletin December 2014: Final Tangible Property Regulations

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Effective for tax years beginning on or after January 1, 2014, the final tangible property regulations mandate sweeping changes for amounts paid to acquire, produce, or improve tangible property. These complex regulations will impact virtually all taxpayers for the upcoming filing of calendar year 2014 income tax returns. Overview These regulations come after years of taxpayer…

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Tax Bulletin December 2014: Final TPRs: Their Impact on Dealerships

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Effective for tax years beginning on or after January 1, 2014, the final tangible property regulations mandate sweeping changes for amounts paid to acquire, produce, or improve tangible property. These complex regulations will impact virtually all automotive dealerships for the upcoming filing of calendar year 2014 income tax returns. By Andrew Meyers, CPA Overview These…

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Tax Bulletin January 2014: Oregon Legislators Reach “Grand Bargain”

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Democrat and Republican Lawmakers Come Together in a Rare Moment of Bipartisan Cooperation By Andrew Meyers, CPA Overview During the 2013 special session of the Oregon State Legislature, citizen lawmakers from both sides of the aisle came together to pass HB 3601, in an effort to slow the growth of government pensions while funneling more…

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Information Reporting Alerts for 2013 & 2014

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We’ve done our annual round up of the filings the IRS & Oregon want from you in addition to your annual income tax return and put them in one handy place. In particular, we’d like to draw your attention to three points covered in this publication: Oregon has instituted e-filing requirements for 1099-MISCs and other…

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Tax Bulletin November 2013: the New “Repair” Regulations

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Act Now or Pay Later: Unraveling the New “Repair” Regulations By Trent Baeckl, CPA Overview The road to the final regulations has been an arduous one, and has involved significant revisions as the IRS solicited and received feedback. The good news is the IRS listened and considerably altered many aspects from the temporary regulations. The bad news…

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US Tax Implications of Real Property Investments by Non-US Investors

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US Tax Implications of Real Property Investments by Non-U.S. Investors Tax Impacts Bulletin, January 2013 By Masa Yamaguchi, CPA, International Tax Manager Overview The US real estate markets continue to see strong demand from foreign investors on the back of the notion that they offer attractive investment alternatives to what’s available in their home countries. However,…

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Tax Bulletin July 2012: City of Portland Tax Amnesty & Real Estate Refunds

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City of Portland Tax Amnesty & Real Estate Refunds Action required by key dates in July By Andrew J. Meyers, CPA & Trina Headley, CPA Overview Spring was a busy time for the Portland City Council who passed a “once-in-a-lifetime” amnesty program aimed at bringing businesses into compliance and paying all back taxes owed to…

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