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Sonia Thannickal, CPA, Author at Delap CPA

05 Nov

Oregon Kicker Details Announced

November 5, 2019 | By | No Comments

UPDATE: The Oregon Office of Economic Analysis (OEA) has issued an updated certification and announced that the kicker rate is now 17.171 percent. This is an increase from 16 percent, the rate OEA first released in October. The State of Oregon has confirmed that there was tax surplus of more than $1.5 billion. Therefore, there […]

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04 Sep

Wayfair’s Impact on Income Tax

September 4, 2019 | By | No Comments

The Wayfair ruling changed the world of sales tax. And now states are continuing to respond, but it’s not just about sales taxes anymore. Texas recently proposed changes to Comptroller Rule 3.586, which applies the ruling in South Dakota v. Wayfair to the nexus requirements for the Texas Margin Tax.  The Wayfair decision eliminated the […]

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20 Mar

Tax Savings for First-Time Homebuyers

March 20, 2019 | By | No Comments

The Oregon Legislature passed a bill (HB 4007) that provides tax benefits for those saving for their first home. First-time homebuyers in Oregon may be allowed to deduct up to $5,000 ($10,000 if married filing jointly) from their taxable income for deposits in an Oregon First-Time Homebuyers Savings Account (FTHSA). The total amount of principal […]

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24 Jan

New Year, New Tax Law

January 24, 2019 | By | No Comments

The new year has arrived, and that means it’s time to file taxes. For the first time in a long time, we have major changes in the tax law. About a year ago, Congress passed the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. This was the largest tax law change since 1986. […]

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29 Oct

SCAM ALERT – Do Not Pay Extra Fee for Annual Report

October 29, 2018 | By | No Comments

If your Oregon business has received a solicitation titled “2018 – Annual Report Instruction Form” or “State Annual Report Renewal Notice,” do not pay the requested processing fee. These solicitations are sent out by out-of-state companies called “Workplace Compliance Services” and “Filing Labor Compliance Services,” not the State of Oregon. In order to determine if […]

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