Q&A WITH A PLAN OF ACTION Are my unemployment benefits taxable? By law, all unemployment benefits are taxable in Oregon and must be reported on both your federal and Oregon tax returns. Does this include benefits I received during the Coronavirus Aid, Relief, and Economic Security (CARES) Act? Yes – all unemployment benefits are taxable …
Oregon now offers a subtraction for amounts you deposited during the tax year into a designated FTHBSA, along with any earnings on your deposits. Who may claim the subtraction? Any Oregon resident who hasn’t purchased or owned a single-family home, either individually or jointly, in the three years prior to the date of their planned …
Oregon’s First-Time Home Buyer Savings Account (FTHBSA) Read More »
Who has to pay it, why they must pay it, and where the money goes ($76 million since 2012) The Arts Education and Access Income Tax was approved by Portland voters in the November 6, 2012 general election (Ballot Measure 26-146). Every Portland Resident age 18 or older, must file either an annual arts tax return, …
What is the difference between an Enrolled Agent and a CPA? Both an Enrolled Agent and a Certified Public Accountant are credentials that require arduous effort and examination. One credential is administered by the state and the other is administered by the federal government. A state credentialed CPA must complete 150 undergraduate hours and pass …