The Kernutt Stokes Advisor

/The Kernutt Stokes Advisor
Beginning on Jan. 1, 2020, the Internal Revenue Service (IRS) has new annual inflation adjustments for tax rates, brackets, deductions, and retirement contribution limits. Note, the amounts below do not impact tax filing in 2020 for the tax year 2019. These amounts apply to 2020 taxes that will be filed in
by Matthew Diment Highlights of spending package’s tax law changes The federal government spending package titled the Further Consolidated Appropriations Act, 2020 does more than just fund the government. It extends certain income tax provisions that had already expired or that were due to expire at the end of 2019.
by Don Lance The Oregon Commercial Activity Tax (CAT) took effect on January 1, 2020, and you have likely have received notification from the State that includes guidance on how to register for this tax.  The following is intended to serve as a reminder and provide further guidance on this
by John Mlynczyk and Rich Nellis   Congress recently passed, and the President signed into law, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), landmark legislation that may affect how you plan for your retirement. Many of the provisions go into effect in 2020, which means now
by Pat Deming and Claire Pahlmeyer Revenue recognition guidance is finally here and requires some thought to be implemented properly. Though released in 2014 and implemented in 2018 for public companies, there are still a number of questions and areas of confusion for private businesses. Implementation for private companies begins
by Don Lane Effective 1/1/2020 Washington has decreased its economic threshold to $100,000 of gross receipts.  Thus, any taxpayers with more than $100,000 of Washington gross receipts will need to register for, and file, B&O Tax Returns.  Prior to 2020, economic nexus existed if a taxpayer had greater than $285,000
by Nick Vitale Kernutt Stokes has a longstanding commitment to meeting the specific needs of the insurance industry. We have a highly qualified team of experienced professionals that are dedicated to serving clients in the specialized and complex insurance industry.  Our team receives ongoing training to remain up-to-date with industry
by Don Lance On May 16th the governor signed House Bill 3427 into law.  This bill creates additional funding for education through a multi-billion dollar commercial activities tax to be imposed on persons doing business in Oregon.   The following outline summarizes some of the key provisions of the law. By
By Matthew Diment With the end of the year quickly approaching, now is the time for any last minute planning to reduce taxable income for the year and to plan for 2019 and 2020 taxes.  It is also a good time to revisit the changes from the 2017 tax legislation
by Dean Huber On May 23 the House of Representatives passed the Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) by a vote of 417 to 3.  Given such broad support it was expected to fly through the Senate. When the bill passed through committee it