The Multnomah County Business Income Tax is an income tax on net business income. Revenue generated from the Multnomah County Business Income Tax goes to the County General Fund and is used to finance libraries, law enforcement, community corrections, jails, juvenile justice, bridges, social services, and health services. You are generally considered to be “doing business” in the …
Portland’s Business License Tax is a net income tax on any business activity (including renting residential and commercial real property) conducted in Portland. The tax income is used as revenue for the general fund (police, fire, some parks programs, and general government functions). You are generally considered to be “doing business” in the City of …
1/10/2024 – IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K until 2024 tax year. The American Rescue Plan Act of 2021 significantly modified the reporting threshold associated with form 1099-K, Payment Card and Third-Party Network Transactions, from $20,000 AND more than 200 transactions per year down to annual …
Understanding Form 1099-K (Payment Card and Third-Party Network Transactions) Read More »
If you make annual cash charitable contributions to any of the 1400 qualifying Oregon nonprofit cultural organizations, consider making a matching donation to the Oregon Cultural Trust’s Development Account to get a dollar for dollar Oregon Tax Credit. On your state tax form you’ll take the tax credit code 807, report the donation to the …
Oregon Cultural Trust Contributions Tax Credit (ORS 315.675) Read More »