When does a tax benefit not become a tax benefit? When you assume you no longer need to keep track of something. This is the case with the home gain exclusion.
TIPS.RESOURCESFORCLIENTS.COM
The Lost Art of Tracking Home Improvements - How a tax law makes us sloppy and creates a tax risk
All too often taxpayers take action that will cost them dearly when they file their tax return. With a little planning, however, the IRS can still receive its fair share but not a dollar more. Here's what you need to know.
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Don't Run the Risk of a High Tax Bill! - Know when you should ask for professional help.
Did your paycheck seem a little higher? If so, it could be a tax time bomb.
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Is a Tax Time Bomb Lurking in Your Paycheck?
If you have not already done so, please plan to make your second quarter estimated tax payment. The due date is Tuesday, September 15th.
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Reminder: Third Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment
Because our tax system is progressive, the next dollar you earn could be taxed at a much higher rate. By shifting taxable income levels from one year to the next, you could potentially pay a lower tax amount in both. Here are six great ideas.
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Tax Shifting Ideas to Reduce Your Bill to Uncle Sam - Is there a taxable income reduction idea you can use?
If you recently changed your name due to marriage or divorce, do not get caught in the nightmare of a rejected or changed tax return by the IRS.
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Avoid Name Mismatch Audits
Find out if a tax trap is lurking in your paycheck and what to do with your 401(k) when switching jobs. Also read about business website mistakes and fascinating facts about your favorite fall gourd.
NEWS.RESOURCESFORCLIENTS.COM
Client Update Newsletter: October 2020
The Social Security Administration recently announced their 2021 Cost-of-Living Adjustment (COLA) changes. Here is what you need to know.
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2021 Social Security Changes Announced
Oops! You find an error or omission on last year's tax return. What should you do? Is it always a good idea to file an amended tax return? Here are some things to consider.
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To Amend or Not Amend? - Is it always a good idea to amend your tax return if you find an error?
If you own a home you probably itemize your deductions on your tax return. But what if you do not itemize? Can someone using the standard deduction still get a tax break?
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Tax Savings for Non-Itemizers - Can't itemize? There are still tax breaks for you
Veterans, Thank you for your service and sacrifice.
Tax time will be here before you know it
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Tips to Organize Your Tax Records - Creating order out of chaos
Looking for some ideas to make filing your taxes less cumbersome? Here are some tips.
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Tips to Organize Your Tax Records - Creating order out of chaos
More income is subject to Social Security in 2021 and new benefit amounts have been announced. Plus lots of great ideas to save you, your family and your business money is in this month's letter.
NEWS.RESOURCESFORCLIENTS.COM
Client Update Newsletter: November 2020
Looking to plan ahead? Here are initial figures from the IRS regarding the upcoming, 2021 tax year.
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IRS Releases Key 2021 Tax Information
As Congress debates tax law changes, and we watch the give and take like its a bad soap opera the clock keeps ticking towards the end of the tax year. So what can you do? Here are some time tested tax reduction ideas.
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Lower Your Taxes THIS YEAR! - Here are 6 ideas that most people can use
The tax code is filled with age triggers. Some are beneficial, while others can create a tax increase surprise. Outlined here are some of the important age triggers everyone should know.
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Age (not death!) and Taxes - Age does matter, when it comes to tax obligations
Important information from Tom of Mainbrace Technology!
Tom Bouley
December 4 at 12:29 PM ·
Please watch! We care about you and your family!
Here are 15 ideas that may reduce your tax bite for this year. But act soon as the year-end is fast approaching.
TIPS.RESOURCESFORCLIENTS.COM
15 Year-End Tax Tips
CURRYPILOT.COM
Business Oregon Grant Program will Reopen to Coastal Oregon Businesses Impacted by Pandemic
$701,109 for small businesses in Curry County!
PRESS RELEASE
For Immediate Release
December 3, 2020
Curry County, Oregon – The Oregon Legislature, in partnership with the Governor, allocated $55 Million of federal CARES Act funds for the purpose of providing financial assistance to small businesses affected by economic conditions as a direct result of the COVID-19 pandemic. These funds were allocated to counties to deploy in the form of grants to small businesses who have been financially impacted.
CCD Business Development Corporation (CCD) was contracted to deploy the Curry County COVID-19 Business Grant Program.
It is intended that these funds are equally accessible to all businesses including the historically disadvantaged population groups (Asian, Black, Hispanic, Native American, and Women-Owned Businesses).
These federal funds are directed to affected businesses with 100 or fewer employees. Curry County Business Grant awards will be made to eligible businesses that have received less than $500,000 in federal funding. Businesses may use the grant proceeds for any business-related operating expenses.
Eligible Applicants: Small business must be located in Curry County.
Businesses that meet the following eligibility requirements:
The business is headquartered in Oregon and has its principal
operations in Oregon.
If required by Oregon law to be registered with the Oregon
Secretary of State to do business in Oregon, the Business is so
registered.
The business has 100 or fewer employees.
The business was affected in either one of the following two
ways:
o For-profit and non-profit (limited to 501(c)(3) corporations)
businesses that were prohibited from operations as directed
by Executive Orders 20-12 or 20-65.
o For-profit and non-profit (limited to 501(c)(3) corporations)
businesses that can demonstrate a one-month decline in sales
of 25% or more, incurred by the COVID-19 pandemic, between
March 1, 2020 and November 30, 2020 as compared against
the same period of time in 2019.
The following businesses are ineligible to apply for or receive funding:
Passive real estate holding companies and entities holding
passive investments.
Non-profit entities that do not have federal 501(c)(3) status.
Businesses that experience a decline in revenues for reasons
other than those caused by the COVID-19 pandemic (e.g.
seasonal or cyclical business cycles.)
Businesses that are delinquent on federal, state or local taxes
that were due on or before the date of application.
Businesses that do not comply with all federal, state and local
laws and regulations.
Businesses that have received more than $500,000 of federal
CARES funding (e.g. PPP, EIDL, and/or EIDL Advance).
Businesses that have closed and do not intend to reopen.
Eligible Grant Amounts: $5,000 - $50,000
You may be wondering what’s the catch and how do I qualify. Theresa Haga, Executive Director for CCD comments, “The catch is CCD needs businesses to apply and act fast. There is a very short window of time to disburse a large amount of money. We have a small staff working hard to contact as many local businesses as possible, but we really need the community to step up and help us spread the word again. If you are hesitant to apply, don’t be. We are still facing an unknown future with winter ahead of us. We want to help as many of our local businesses as possible while the money is available.”
To Apply: The application will be available at www.ccdbusiness.org on Monday, December 7th, 2020 at noon (12:00 p.m.).
CCDBUSINESS.ORG
Home
A rustic Christmas theme this year. Our staff had a craft night last month and made all the ornaments on the tree. Windows by Kell Marie Art. There’s still some finishing touches left to do, but we’re pretty happy with the results so far.
Turn your home office into a tax deduction. Also read about common IRS surprises, how to use depreciation to manage your business's profit margin and ideas to help your kids with virtual learning.
NEWS.RESOURCESFORCLIENTS.COM
Client Update Newsletter: December 2020
With the setting of contribution limits to qualified retirement plans for 2021, now is a good time to plan for your upcoming retirement contributions.
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Plan Your 2021 Retirement Contributions
IRS.GOV
IRS warns people about a COVID-related text message scam | Internal Revenue Service
Unlike fishing, phishing has no limits and can hurt anyone it touches. As one of the top 12 IRS tax scams, you do not want to take this bait. Here is what you need to know.
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Gone Phishing?
Are you capturing all the tax benefits built into homeownership? Here are the most common.
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Your Home. A Bundle of Tax Benefits.
More stimulus payments are on the way! Also ready about the latest PPP loan update, find out how much you can contribute to your retirement fund in 2021 and see Uncle Sam's New Year's resolutions.
NEWS.RESOURCESFORCLIENTS.COM
Client Update Newsletter: January 2021
INDEEDJOBS.COM
Careers at Musser Olsen PC
Here are the standard mileage rates for 2021.
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2021 Mileage Rates are Here! - New mileage rates announced by the IRS
Organizers going out today! Be on the lookout for yours.
Plan now to make your 4th quarter estimated tax payment.
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Reminder: Fourth Quarter Estimated Taxes Now Due - Now is the time to make your estimated tax payment
INDEEDJOBS.COM
Careers at Musser Olsen PC
Musser Olsen PC
January 1 at 11:38 AM ·
Musser Olsen PC
January 1 at 11:38 AM ·
A recent voter initiative in California overrules the state's desire to make all Uber and Lyft drivers employees. This puts a spotlight on all workers to know the difference.
TIPS.RESOURCESFORCLIENTS.COM
Are You a Contractor or Employee? - Knowing the difference is very important
CCD Business
Yesterday at 12:00 PM ·
The Emergency Small Business & Microenterprise Grant Program is 𝗡𝗢𝗪 𝗢𝗣𝗘𝗡! Please visit CCD's website to apply: www.ccdbusiness.org
Application period will close at 5:00 p.m. on Wednesday, January 27.
Be on your guard as the IRS identity theft season starts in late January. Here's what you need to know.
TIPS.RESOURCESFORCLIENTS.COM
IRS Identity Theft Season Begins Now
Learn about a new tool to protect your tax return from would-be thieves. Plus find out how you are giving away the most valuable thing you own!
NEWS.RESOURCESFORCLIENTS.COM
Client Update Newsletter: February 2021
After a long pilot program, the IRS is making its identity theft PIN program available to all taxpayers. Here is what you need to know.
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IRS Identity Theft Program NOW OPEN! - New one-time use PIN option available for all
https://www.indeedjobs.com/musser-olsen-pc/_hl/en_US?cpref=JXWAtnzf3XWjLOi4YeVNLqyMzQ_zPWPBue0MJQuV7qM
INDEEDJOBS.COM
Careers at Musser Olsen PC
There are a few areas within the tax code that can cause an unpleasant surprise when encountered. Thankfully they do not happen too often. Here are six you should know about.
TIPS.RESOURCESFORCLIENTS.COM
Oops! I Wish I Knew That.
The IRS often sees the transfer of funds as a loan, whether there is a loan agreement or not. This also means there is an implied term and interest payment. When the IRS says a transaction is a loan, what interest rate do they use? Enter AFRs. Here is what you need to know.
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Understanding Tax Terms: AFRs
Now is the time for taxes AND reviewing your Social Security earnings report.
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Review Your Social Security Earnings Report
Fair market value is often one of the IRS's go-to items when auditing you. Here is what you need to know.
TIPS.RESOURCESFORCLIENTS.COM
Defending Fair Market Value
Get answers to common tax questions and read about the new world of bank reconciliations. And why not have some fun with a resurgence of these classic or newly popular board games.
NEWS.RESOURCESFORCLIENTS.COM
Client Update Newsletter: March 2021
Prior to filing your tax return, take a moment to review it for accuracy. Here are some hints.
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Tax Return Review Hints
A surprise tax break for the unemployed is creating havoc on filing tax returns this year. Here is what you need to know.
TIPS.RESOURCESFORCLIENTS.COM
ALERT! 2020 Tax Date Delay AND Unemployment Income Now Tax Free - What you need to know
IRS.GOV
Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline | Internal Revenue Service
Looking for tax-free income? Here is a list of the more common types.
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Income the IRS Can't Touch
We’ve been flocked! 🦩🦩🦩🦩
Made our day😊😂
A surprise tax break for the unemployed is creating havoc on filing tax returns this year. Here is what you need to know.
TIPS.RESOURCESFORCLIENTS.COM
ALERT! 2020 Tax Date Delay AND Unemployment Income Now Tax Free - What you need to know
IRS.GOV
Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline | Internal Revenue Service
