From the team at McMinnville CPA, we wanted to wish you a Happy Holidays! With year-end rapidly approaching, we wanted to let you know what to expect for the upcoming tax season! Firm Holiday Break In order to spend with…
Hello and Happy Soon to be Holidays! We are rapidly approaching the end of an eventful 2020. As we get closer to the end of the year, there are a few items we wanted to make you aware of. Winter…
On March 20, 2020, it was announced by Treasury Secretary Steven Mnuchin that due to the ongoing Coronavirus emergency the filing deadline of April 15, 2020, has been officially moved to July 15, 2020. This extended filing date applies to…
The Internal Revenue Service recently released IRS Notice 2020-17 outlining tax payment relief for taxpayers due to COVID-19 (Coronavirus) pandemic. In the media there has been uncertainty as to when are my taxes due and when do I have to…
We are happy to announce as of Monday, November 18, 2019, our office has moved to a new location. We are now located at 2270 SW 2nd St, Suite C. in McMinnville. For those who have not yet been to…
On Friday, December 14th, 2018, the IRS released the 2019 standard mileage rates with notice 2018-251. These are very important numbers which are used for many calculations such as mileage reimbursements, expenses related to driving for businesses, medical mileage, and…
On Friday July 13, 2018, the IRS announced they will be publishing regulations related the suspension of miscellaneous itemized deductions and how it impacts non-grantor trusts and estate filings starting with tax year 2018. Currently the Tax Cuts and Jobs…
The 2017 Federal Form 1040, U.S. Personal Income Tax Return is 79 lines long consisting of a slew of income items, deductions, non-refundable credits, additional taxes, and refundable credits. The latest draft 2018 Federal Form 1040 Simplified, U.S. Personal Income Tax Return only has 23 lines. What happened to the other line items? Majority of those items have now been moved to six different tax schedules that can be attached to the Form 1040 Simplified.
As of July 1, 2018, there are two new changes that are in place for employers and employees in the state of Oregon. Minimum wage will be receiving an increase and there is a new tax that has begun as…
Starting July 1, 2018 employers are to begin withholding one-tenth of a percentage or 0.1% for all wages earned in Oregon. This includes wages of all Oregon residents regardless of where the work is or was performed and wages of nonresidents who perform services in Oregon.