Bentz Named to Cannon Financial Institute Faculty

We are pleased to announce that Clint Bentz, CPA, CMA, has been selected as an adjunct faculty member for the Cannon Financial Institute Trust Tax School. Clint is an expert in family succession issues and leads the trust and estate practice group. He recently helped draft and pass the overhaul of Oregon’s estate tax laws. Cannon Financial…

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Carryovers to Next Tax Year – Who Should Know About These

Capital gains and qualified dividends are taxed at a variety of rates for federal tax purposes. Currently, the common rates include 0, 15, 20, and 23.8 percent. You might be surprised to know the characteristics of taxpayers who have been able to make use of the zero percent tax rate on capital gains and qualified dividends.

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Who Gets to Pay Zero Percent Tax on Capital Gains and Qualified Dividends?

Capital gains and qualified dividends are taxed at a variety of rates for federal tax purposes. Currently, the common rates include 0, 15, 20, and 23.8 percent. You might be surprised to know the characteristics of taxpayers who have been able to make use of the zero percent tax rate on capital gains and qualified dividends.

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Clint Bentz Speaks to Oregon Small Woodlands

In partnership with the Oregon Small Woodlands Association and support from OSU Forestry and Natural Resources Extension, Oregon Forest Resources Institute, Oregon Department of Forestry and the Oregon Tree Farm System, the Committee for Family Forestlands sponsored a symposium in January 2015 on these tax issues to describe the breadth of this subject and to…

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Claiming Charitable Contribution Deductions

For many individual taxpayers, a charitable contribution is a significant deduction on Schedule A, Itemized Deductions. These gifts may be made in the form of money (cash, check, credit card, or payroll deduction) or property (non-cash items). The form of donation and the amount of the donation will generally dictate the required documentation or substantiation that…

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What is NII and Will it Cause NIIT?

For tax years after December 31, 2012, individuals, trusts, and estates are subject to a 3.8 percent Net Investment Income Tax (NIIT), if their modified adjusted gross income (MAGI) exceeds a threshold amount determined by their filing status: married filing joint, married filing separately, or single.  Some of you may have experienced this new tax…

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Quarterly Tax Payments: Beware 90% May Be Greater Than 100% or 110%

In certain situations it is necessary for individuals to make estimated quarterly tax payments using the Form 1040-ES payment voucher.  Estimated tax payments are necessary when income is derived from sources that are not subject to withholding such as interest, dividends, gains from sales of assets, rental income, royalties, schedule E pass-through income, and self-employment…

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Discovering the How, Why, and How Much of Your Income Taxes

After completing my 37th tax season and taking some time to rest, relax, and refresh I am pleased to get back into the routine of writing a monthly article for ChartNotes. The topic for this article was developed during tax season as I met with clients over their income taxes and as I analyzed completed…

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WHAT DOES YOUR W-2 SAY ABOUT YOU?

The Form W-2, Wage and Tax Statement, is a form millions of Americans receive annually.  The form is required to be prepared by every employer engaged in a trade or business who pays remuneration for services performed by an employee. The form is prepared with five copies to be distributed as follows: Social Security Administration…

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2nd Qtr: Stay in Touch With Your Tax Calendar

Last month’s article covered the important tax calendar dates for the first quarter of 2014. Since we are midway through that first quarter you may want to refer back to that article and the due dates that were covered. This month I will write about the second quarter of 2014 and what important dates are…

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