Forms for Tax Season

Each year clients have issues with pre-printed forms not lining up for printing. Even forms purchased from Intuit! We used to sell these and buy in bulk so there will be a bit of a sticker shock. You can also use e-file services to process these forms but be aware that it can be just […]

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Oregon CAT Tax

Welcome to the wonderful world of Oregon CAT Tax! What is commercial activity? Corporate Activity Tax FAQ Commercial activity is the total amount realized by a company from the transactions and activity in the regular course of their business in Oregon, without deduction for expenses incurred by the business​. Commercial activity is realized according to

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1099 Form Changes for 2020

It’s Alive! The 1099-NEC form has been brought back to life. Just in time for Halloween! “The new Form 1099-NEC—which is actually an old form that hasn’t been in use since 1982—is used to report any compensation given to nonemployees by a company. 1 The IRS has separated the reporting of payments to nonemployees from Form 1099-MISC and redesigned

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Independent Contractor Tests

It is very important that you classify workers properly.  The mistake of classifying an employee as an independent contractor can be costly. What is the definition of an Independent Contractor per the IRS? 20FactorTestforIndependentContractors Here is an example of the type of form your company should have for Vendor On-boarding. Example Independent Contractor Questionaire And

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Mileage and Travel Reimbursements

You cannot deduct commuting costs so make sure you understand what is considered commuting – See the image furnished by the IRS below. Reimbursements are part of an Accountable Plan which requires: Business Connection: Proof of business necessity Substantiation: Original receipts, mileage log, reimbursement request form. Return of Excess Amounts: Return of unused advances. IRS

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