The Kernutt Stokes Advisor

Reporting Reminder for Greater Than 2% S Corp Shareholder

There are additional Form W-2 reporting requirements for a greater than 2% shareholder of an S corporation (shareholder) if their health care plan costs are paid by the S corporation. This also includes immediate family members of greater than 2% shareholders of an S corporation. Amounts paid for health, vision, and/or dental insurance plans must be included on the shareholder’s…

2018 New Payroll Tax, Deadlines, and Reminders

New Oregon Public Transportation Payroll Tax Effective July 1, 2018, there will be a new 0.1% Public Transportation Payroll Tax on employee wages.  The tax will be imposed on state residents, regardless of where services are performed, and nonresidents, for services performed in state. The tax will be deposited into a new Statewide Transportation Improvement Fund (STIF). Employers will report…

Oregon Labor Law Updates

By Matthew Diment Oregon has seen a few labor law changes over the last year that may very likely impact your business.   These changes include increases to minimum wage, changes in the interpretation of overtime rules, and a rescission of the tip pooling restrictions.  Make sure you understand the new rules and update your policies accordingly. The 2016 Oregon legislature…

Internal Controls 101: A Guide for Small Businesses

By Haley Lyons and Kaitlyn Coburn For small businesses, implementing properly designed internal controls with limited resources can be challenging. According to a 2014 report by the Association of Certified Fraud Examiners (ACFE), businesses with fewer than 100 employees accounted for the highest percentage of fraud instances – nearly 29%. Understanding internal controls, and how to best implement them to…

Kernutt Stokes Service Spotlight – Construction Services

Kernutt Stokes has over 70 years of experience in the Eugene/Springfield community and has partnered time and time again with local leaders in the construction industry. Working closely with general contractors, home builders, architects, engineers, and other industry professionals, our specialists have developed the ability to provide proactive and practical solutions that positively impact a company’s performance. Our extensive knowledge…

Tip: Why Vacations are Important

The unrelenting pace of life is a reality for many people. Mobile technology keeps us connected 24/7, and the workday seems to have no end. Sometimes we tell ourselves we can’t justify taking time off to rest and rejuvenate. Too much of this kind of thinking can seriously damage our health and productivity. If you need reminding why vacations matter,…