Blog Entries

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Opportunity Zone Tax Incentive Benefits

This article discusses a rare opportunity that the Tax Cuts and Jobs Act have produced for investors in the United States. Long story short, this act is incentivizing investors to invest in distressed communities in order to receive tax benefits in the hopes of “spur[ing] economic development and job creation” in those regions. Be sure to check out this article for more details surrounding the opportunity zones qualifications needed! To view this article, click HERE to access

IRS Issues Guidance Regarding Payroll Tax Deferral

On Friday, August 28, the Internal Revenue Service (IRS) released Notice 2020-65, which offers guidance regarding the implementation of the Presidential Memorandum on the deferment of some payroll taxes. The memorandum, which was released by the President on August 8th, called for a deferral of the employee share of social security tax (or the railroad retirement tax equivalent) due between September 1, 2020 and the end of the year. The deferral applies to employees who earn less than $4,000 (pre-tax) on

How COVID-19 Has Changed Business Forever

This article discusses how the coronavirus pandemic is impacting a number of industries in multiple ways. Some of the trends include working from home, hiring based on technology skill set, and restaurants teaming up with delivery services permanently. No matter your industry, being aware of these trends and how they will impact businesses on a day-to-day basis will provide a competitive edge during this unstable time. To view this article, click HERE to access the original content.

11 Small Business Accounting Tips to Save Your Business Time and Money

This article discusses some accounting tips that your small business should consider following in order to become more efficient. There are many details business owners must consider, managing your accounting practices early on will allow you to focus on the work of growing your business. Whether it is as simple as separating your personal and business expenses or eventually making things automated, getting back to basics can go a long way to saving you time and money. To view this article,

SBA Issues 23 New PPP FAQs

On August 4th, the U.S. Small Business Administration (SBA) released additional guidance regarding forgiveness of Paycheck Protection Program (PPP) loans. In consultation with the U.S. Department of the Treasury, the SBA added 23 new questions to their PPP FAQ page. The SBA sorts the new loan forgiveness FAQs into the following four categories: General Guidance – The first three FAQs cover broad subjects: which forgiveness application should be used by sole proprietors, independent contractors, and self-employed individuals without employees; whether it is

Main Street Lending Program Provides Working Capital for Small Businesses

The Main Street Lending Program is designed to help credit flow to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic. Loans originated under the program have several features that will help businesses and nonprofits facing challenges, and loan sizes start at $250,000 and range up to

The Future of Remote Working After COVID-19

This article discusses how the coronavirus pandemic has impacted the way businesses operate on a day-to-day basis. One major difference the pandemic has resulted in is the increase in telecommuting. This article outlines some of the best practices for remote work. These practices include getting a clearer picture of which roles are better suited for remote work, clarifying expectations, addressing specific needs, utilizing video calls, and thinking beyond technology.  Putting these practices into place will go a long way in making

Promoting Collaboration During a Crisis

Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As we venture past the peak of the pandemic, businesses are going to have to adapt to the new world in which they reside in order to survive. Specifically, within the business industry and as a business owner, it is crucial, now more than ever, to be familiar with the ins and outs of

Oregon Commercial Activity Tax (CAT) Legislative Revisions

The Oregon Senate recently approved House Bill 4202, which will provide much needed revisions to the original Commercial Activity Tax (CAT) legislation enacted last year. The Bill passed by a 26-1 vote after unanimous approval in the House and is now headed to Governor Brown for signature. Significant revisions in the bill include: Taxable gross receipts can now be reduced by returns and allowances in arriving at taxable commercial activity. The original law did not provide for this reduction. The legislation provides fiscal