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Blog Month: January 2020

hand filling out a form titled "Application for recognition of exemption under section 501(c)(3) of the internal revenue code"

Form 1023 and Form 1023-EZ FAQs

What is the Form 1023? Form 1023 is the application filed with the IRS in order to request exempt status under Section 501(c)(3).  A new Form 1023-EZ was released in
Portland Oregon Skyline At Dusk

Selling into Oregon? Beware of the CAT!

In May 2019, Oregon created a new .57% gross receipts tax that went into effect on January 1, 2020.  This adoption of a new “Commercial Activity Tax” (“CAT”) is imposed

How to claim a refund of tax incurred related to qualified transportation fringes

Legislation signed December 20, 2019 retroactively repealed Internal Revenue Code Section 512(a)(7), which increased unrelated business taxable income by amounts paid or incurred for qualified transportation fringes.  The IRS released

Businesses Still Subject to the “Parking Lot” Tax

One of the changes made to the tax laws by the Tax Cuts and Jobs Act (TCJA) was to disallow a tax deduction for qualified transportation fringe benefits businesses provide

Setting Every Community Up for Retirement Enhancement Act (SECURE Act) – Key provisions affecting individuals

Congress recently passed – and the President signed into law – the SECURE Act, landmark legislation that may affect how you plan for your retirement. Many of the provisions go

Two Key Changes affecting Retirement Plans in 2020

On December 20, 2019 the President signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) into law.  This law made a lot of positive changes in IRAs

Have an IRA? Pay attention to these new tax law provisions

On December 20, 2019 the President signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) into law.  This law made a lot of positive changes in IRAs

Variety of tax provisions included in law passed over the holidays

The “Further Consolidated Appropriations Act, 2020” was signed into law on December 20, 2019, and includes a variety of provisions that provided tax relief to businesses and employers. The new

President Trump signs Act providing favorable tax provisions for 2020

In the spirit of giving during the holiday season, a package of tax provisions passed by Congress could be significant for some taxpayers. The Further Consolidated Appropriations Act of 2020

Are you working a part-time “gig” job? Don’t forget about your tax obligations!

Do you receive income from one of the online platforms offering goods and services (e.g., Uber, Lyft, Airbnb or DoorDash)?  Keep in mind there are tax consequences for the people