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 »
The IRS can be extremely difficult to communicate with by telephone. You may navigate through a phone tree for 10-minutes before being informed by an automated recording that “We are unable to process your request at this time, please call back the next business day.” After this recording you’ll hear a dial tone. For taxpayers …
Section 125 of the IRS code allows employers to offer employees a choice between receiving a portion of their compensation in cash or as part of an employee benefit that can provide sizeable tax savings for both the employer and employee. A section 125 plan is also referred to as a cafeteria plan because employers …
Every tax season we see a growing percentage of Oregon taxpayers being selected for “Oregon manual processing”. Typically, the most common reason the Oregon Department of Revenue puts a tax return under “manual processing” is to further review the tax return to confirm that it was you who filed it and not someone else trying …
In May of 2020 voters in Portland approved a measure to raise money for people experiencing homelessness or at risk of experiencing homelessness. The program assesses a 1% tax on all taxable income of more than $125,000 for individuals and $200,000 for couples filing jointly. The program is also funded by a 1% tax on …
Metro Supportive Housing Services (SHS) Personal Income Tax Read More »
On November 3rd, 2020, Multnomah County voters approved a measure to establish a tuition-free preschool program. The PFA program is designed to give 3 and 4 year-olds in Multnomah County access to “free, high-quality, developmentally appropriate, culturally responsive preschool experiences”. The PFA program is funded by a personal income tax of 1.5% on taxable income …
Multnomah County Preschool For All (PFA) Personal Income Tax Read More »
(ORS 316.102) Oregon allows a tax credit for political contributions up to $50 for a single taxpayer and $100 for taxpayers filing jointly. The credit must be claimed in the same tax year as contributed. Qualifying contributions include candidates and their principal campaign committees, political action committees, and political parties. This credit phases out …
Cryptocurrency is a digital currency exchanged through a computer network that is not reliant on central authority such as government or bank. Individual coin ownership records are stored in a digital ledger verifying the transfer of coin ownership. The IRS uses the term “virtual currency” to describe the various types of virtual currency that are …
Reporting cryptocurrency transactions to the IRS Read More »
Solidstatetax.securefilepro.com is a secure web-based portal where we can complete the entire tax process remotely by exchanging highly encrypted files back and forth. You can also access any historical tax documents we have done together including your Federal 1040, Oregon 40, W-2’s, 1098’s, etc. The portal has a mobile friendly interface which will allow you …
Creating your own Oregon Revenue Online account is the most efficient and effective way to communicate with the Oregon Department of Revenue. Revenue Online is a secure web service that provides access to your tax account at any time. Registering with Revenue Online allows a taxpayer to: See your account status, including balances, credits, and …
Creating a Taxpayer’s Revenue on-line Account in Oregon Read More »