Category Archives: Portland CPA Blog Posts

Managing the finances of a cannabis business is challenging for many reasons, not the least of which is the fact that many of these businesses have only recently obtained their legal status. This means that they are under the close scrutiny of state health agencies as well as federal agencies like the IRS. That is […]

Covid-19 is a widespread pandemic that has created economic hardship for many people throughout the U.S. as well as globally. Many employees have been laid off or furloughed from their jobs as businesses temporarily shut down, and there have been school closures as well as interruptions in the operation of many business offices and accounting […]

In the state of Oregon, businesses that deal with the retail sale of recreational cannabis products are regulated by the Oregon Liquor Control Commission, or OLCC. Medical marijuana dispensaries come under the jurisdiction of the Oregon Medical Marijuana Program, or OMMP. All cannabis business owners must be licensed and must meet the state tax requirements. […]

CPAs offer attestation services as unbiased options to evaluate their company through compiled reports. Attestations determine the health of a business through its numbers, providing business owners a level of assurance about their company. Owners can use this information to make proactive decisions in favor of their business and provide detailed reports to investors and […]

Running a business requires managing many departments to keep organized and grow profits. However, many business owners do not have the luxury to dedicate the time and effort to each department, especially in regards to accounting management. Business owners often do their own accounting and fail to find places where they can seize profits, even […]

Planning for the growth and development of your business throughout the fiscal year and years following is essential to your company’s success. Business plans combine tax planning with detailed documents of how to accomplish profits over time, considering a business’s trajectory in the coming year. At Perpetual CPA, we want business owners to continue developing […]

On October 12, an executive order was signed that, among other things, seeks to expand Health Reimbursement Arrangements (HRAs). HRAs are just one type of tax-advantaged account you can provide your employees to help fund their health care expenses. Also available are Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). Which one should you […]

Projecting your business income and expenses for this year and next can allow you to time when you recognize income and incur deductible expenses to your tax advantage. Typically, it’s better to defer tax. This might end up being especially true this year, if tax reform legislation is signed into law. Timing strategies for businesses […]

Various limits apply to most tax deductions, and one type of limit is a “floor,” which means expenses are deductible only if they exceed that floor (typically a specific percentage of your income). One example is the medical expense deduction. Because it can be difficult to exceed the floor, a common strategy is to “bunch” […]

Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional IRA — subject to income taxes on all earnings and deductible contributions — and then discover that you would have been better off if you hadn’t converted […]

Accelerating deductible expenses, such as property tax on your home, into the current year typically is a good idea. Why? It will defer tax, which usually is beneficial. Prepaying property tax may be especially beneficial this year, because proposed tax legislation might reduce or eliminate the benefit of the property tax deduction beginning in 2018. […]

If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax implications. However, if you neglect tax issues during the negotiation process, the negative consequences can be serious. To improve the odds of a successful acquisition, it’s important to devote resources […]