Image Image Image Image Image Image Image Image Image

Sonia Thannickal, CPA, Author at Delap CPA

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 […]

Read More

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. […]

Read More

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 […]

Read More

25 Sep

IRS Response to State Workarounds

September 25, 2018 | By | No Comments

September 11, 2018 — Effective January 1, 2018, under the Tax Cuts and Job Acts (TCJA), state and local tax deductions (SALT) are limited to $10,000 ($5,000 if married filing separately). Some states have existing programs and other states have attempted to implement programs to work around this new limit by offering state tax credits […]

Read More

01 Mar

Change in Oregon Apportionment Could Mean Lower State Tax for Service Companies

March 1, 2018 | By | No Comments

Author: Sonia Thannickal,  CPA | Tax Senior at Delap With all the news about the Federal tax reform, you may have missed that Oregon also passed a new law, Senate Bill 28, that has already taken effect. Effective for tax years beginning on or after January 1, 2018, for sales other than tangible personal property, […]

Read More