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Tax Archives | Delap CPA


14 May

Limit Surprises Next Tax Season by Checking Your Withholdings

May 14, 2019 | By | No Comments

Authors: Joshua Caddel, CPA and Haley Norwood, CPA With the changes from the Tax Cuts and Jobs Act (TCJA), many taxpayers were surprised with less than favorable results after filing of their 2018 tax return. Likely, part of the problem was not withholding enough from each paycheck to cover federal and/or state taxes. Because of […]

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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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31 Dec

New Rules on Interest Expense Deduction and Depreciation for Auto Dealers

December 31, 2018 | By | No Comments

The Tax Cuts and Jobs Act of 2017 (TCJA) was beneficial to taxpayers in many ways. One would hope so considering the name of the Act. However, there were a few aspects of the TCJA that were unfavorable from the taxpayer’s standpoint. Here we will look at just one of those unfavorable provisions in relation […]

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18 Dec

199A: Passthrough Deduction Provides Ample Opportunity for Tax Planning

December 18, 2018 | By | No Comments

One of the more publicized changes under The Tax Cuts and Jobs Act (TCJA) is the Section 199A deduction – commonly known as the Qualified Business Income Deduction.  This deduction was designed to keep the tax rate on passthrough entity income competitive with the new lower corporate tax rate of 21% by providing a deduction […]

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