Discover the Hidden Potential of Business Meals: Maximizing Your Tax Benefits

If you go to a Dutch-treat lunch with a colleague or have a member lunch at your monthly chamber of commerce meeting, you face two opposing tax laws: The law that denies your deductions for personal living expenses (food) The law that allows business meals as tax deductions Tax professionals know this conﬂict as the “Sutter rule,” named after Dr. Sutter, who had a bad experience with the Tax Court. When the IRS and/or the courts invoke the Sutter rule, you lose your business meal deductions to the extent they don’t exceed your personal meal costs. Example: Your Dutch-treat meal deductions for business entertainment for the year are ...

Tax Considerations When a Loved One Passes Away (Part 2 of 3)

If you become an executor of your loved one’s estate, you may have some important tax decisions to make. Here are some quick thoughts. The now-deceased loved one may have been single or married and may have been a relative or not.

Tax Considerations When a Loved One Passes Away (Part 1 of 3)

During these challenging times dealing with COVID-19 and the additional challenges economic and otherwise it brings, if a loved one passes away and you serve as the executor or inherit assets, you need to consider your duties and so some tax planning.

Tax Projects vs Tax Planning

We're Not Normal and We Don't Expect You to Be Either When It Comes to Your Tax Planning, Tax Projections and Forecasting Our accounting firm's Customer-Base knows and is appreciative that we include Tax Planning and Tax Projections as a rule to nearly all of our Morris+D'Angelo's High-Worth Professional Engagements. Why Hire an Accounting Firm When Tax Planning Isn't Needed My Business Partner, Pat D'Angelo of nearly 30-years and I set out to build and create an Accounting Firm that empowered our Customers to succeed in areas of financial matters that most are not familiar with, especially High-Level Financial Concepts and Techniques that Pat ...

It’s Time to Build Your Back-to-School Budget

We just left behind record-setting 100-degree summer weather in Portland, Oregon. The cool temperatures of the Oregon Coast are still calling, and it’s time for us to start packing our young students backpacks because the new school year will be here before you can say ‘fall semester.’ We just returned from Carroll College in Helena, Montana where our youngest Kayla will be attending her freshman year. If you haven't done it yet, it's time to build your Back-to-School Budget. As you know, there is a significant financial cost associated with the start of a new academic year. Regardless of whether you’re a parent thinking about your ...