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Tax Archives | Delap CPA

01 Oct

If You Completed a New Form W-4 in 2018, Here’s How You Can Avoid a Big Tax Bill from Oregon

October 1, 2018 | By | No Comments

The Tax Cuts and Jobs Act (TCJA) passed by Congress in December 2017 triggered many taxpayers to update their withholdings.  Often, this resulted in changes to the number of allowances that you claimed.  Unless you filed a separate Oregon Only Form W-4 there is a substantial risk that you may be under-withheld at year end.  […]

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26 Sep

2019 Projected Tax Figures

September 26, 2018 | By | No Comments

Wolters Kluwer recently released projected inflation-adjusted 2019 amounts for a few important items. These projections are based on the Consumer Price Index figures released on September 12, 2018. Individual Tax Brackets With the Tax Cuts and Jobs Act, we saw 7 total tax brackets put into place, ranging from 10% to 37%. According to Wolters […]

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25 Sep

Tax Reform 2.0 Proposed Updates

September 25, 2018 | By | No Comments

The House Ways and Means Committee approved a Tax Reform 2.0 package and is expected to be voted on by the House by the end of September. Here is a summary of some of the more notable provisions: Individual & Small Business Tax Cuts Many individual and small business tax cuts originally enacted temporarily through […]

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24 Sep

Five New Audit Campaigns

September 24, 2018 | By | No Comments

On September 10, 2018, the IRS Large Business and International Division (LB&I) identified five new audit campaigns that expand the focus areas under its issue-based examination program. Audit campaign summary: IRC Section 199 There is expected to be an increase in audits to ensure compliance for business entities that file Domestic Production Activity Deduction (DPAD) […]

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27 Aug

Paycheck Withholding Calculator – Are You Withholding Enough Tax?

August 27, 2018 | By | No Comments

Do you know if you are withholding enough tax from your paycheck? The IRS has released a new Paycheck Withholding Calculator to help taxpayers determine if they are currently withholding enough tax to avoid a hefty tax bill and penalties next year at tax time. The calculator is a very easy and quick tool for […]

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