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EES Newsletter – June 2019
Seven Smart Mid-Year Tax Moves Ideas for individuals and businesses Believe it or not, we have almost reached the mid-point of 2019. Don’t wait until the end of the year to implement tax-saving strategies for your family and small business. Here are seven tax-saving opportunities during the summer months. Harvest capital gains or losses. The maximum tax rate for long-term capital gains remains at 15% or 20% for certain high-income taxpayers. When appropriate,…
June 2018 Newsletter
Sizing Up New Deduction for Pass-through Entities Complicated new rules for business owners The new Tax Cuts and Jobs Act (TCJA) creates a brand-new deduction for pass-through entities, designed to provide a balance to corporations benefiting from tax rate cuts. But the deduction is not nearly as simple as the new flat 21% rate for corporations authorized by the TCJA. Although many tax experts are still grappling with the rules, here are the…
April 2018 Newsletter
Client Information Bulletin April 2018 Last Chance for Key Tax Deductions? Opportunities vanishing after 2017 returns The new tax law enacted at the end of last year—the Tax Cuts and Jobs Act (TCJA)—provides numerous tax changes for individuals, including tax rate cuts and a higher standard deduction. Significantly, the TCJA also eliminates or modifies certain deductions, including the majority of itemized deductions, beginning in 2018. As a result, fewer taxpayers are expected…
February 2018 Newsletter
Client Information Bulletin February 2018 Seven Steps for Tax Return Season Preparing to file 2017 returns One sure sign that spring is coming: It is time to prepare to file your annual tax return. You can alleviate some of the usual stress if you have your 2017 return professionally prepared, but you still have some work to do. Here are seven practical suggestions to help you spring into action: Assemble tax…
April 2017 Newsletter
Client Information Bulletin April 2017 Make Tax Plans for Vacation Home Rentals How to maximize the tax benefits The summer rental season is about to kick off. If you own a vacation home in a resort area that you rent out while your family is not using it, you may be in line for valuable tax deductions. In fact, you might even qualify for a tax loss on the deal, but you must…
March 2017 Newsletter
Client Information Bulletin March 2017 Immediate Tax Benefits for Business Property Section 179 provides generous tax break There is a unique tax break for business entities of all shapes and sizes contained in Section 179 of the Internal Revenue Code. Under this section, a business can elect to “expense,” or currently deduct, the cost of qualified property placed in service during the year, up to a maximum level. It is near-instant tax…
New $35 Arts Tax now due June 10th from all Portland Residents!
This tax was passed on November 6, 2012, (ballot measure 26-146) and will fund Portland school teachers and art focused non-profit organizations in Portland. All adult Portland residents are required to pay a $35 (unless you are exempt) You may have already received the postcard reminder. Taxpayers that have not paid by March 25th will receive a paper tax form in the mail. Late fees are $15 if payment is received after June…
Continue Reading New $35 Arts Tax now due June 10th from all Portland Residents!
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