Check Your Withholding
The 2017 tax overhaul lowered tax rates across the board, but it also scrapped some popular tax breaks. As a result, some taxpayers who were accustomed to receiving a refund ended up owing the IRS when they filed their 2018 tax return. 
 
If you were part of that band of disgruntled taxpayers, you may be able to take steps between now and year-end to avoid another April surprise. Use IRS's Tax Withholding Estimator and Oregon Withholding Calculator as soon as you can to determine where you should file a new W-4 with your employer and increase the amount of tax withheld from your paycheck before the end of the year. You'll need your most recent pay stub and a copy of your 2018 tax return to help estimate your 2019 income. 
 
Pay Bills Now (Including Some for 2020)
Unless your finances have changed significantly, you probably have a pretty good idea whether you'll itemize or claim the standard deduction when you file your 2019 tax return. If you plan to itemize—or you're close to the threshold—now is a good time to prepay deductible expenses, such as mortgage payments and state taxes due in January.

Review your medical bills. If you have enough unreimbursed medical expenses, you may be able to deduct them. In 2019, you can only deduct unreimbursed medical expenses that exceed 10% of your adjusted gross income (in 2018, the threshold was 7.5%). That puts this tax break out of reach for most taxpayers, but if you had extraordinarily high medical expenses this year—due to a major illness, for example—you may qualify.

And there's still time to schedule appointments and procedures that will increase the amount of your deductible expenses. The list of eligible expenses includes dental and vision care, which may not be covered by your insurance.

Prepay tuition. If you're the parent (or grandparent) of a college student, you may be able to lower your 2019 tax bill by prepaying the first quarter tuition bill—and you don't need to itemize to claim this tax break. The American Opportunity Tax Credit, which you can take for students who are in their first four years of undergraduate study, is worth up to $2,500 for each qualifying student. Married couples filing jointly with modified adjusted joint income of up to $160,000 can claim the full credit; those with MAGI of up to $180,000 can claim a partial amount.

Likewise, if you're planning to take a class next year to boost your own career, consider prepaying the January bill before December 31 so you can claim the Lifetime Learning Credit on your 2019 tax return. The credit is worth up to 20% of your out-of-pocket costs for tuition, fees and books, up to a maximum of $2,000. It's not limited to undergraduate expenses, and you don't have to be a full-time student. Married couples filing jointly with MAGI of up to $116,000 can claim the full credit; those with MAGI of up to $136,000 can claim a partial credit.

Look into an ABLE account. If someone in your family has special needs, you can contribute up to $15,000 this year to an ABLE account, which allows people with qualifying disabilities to save money without jeopardizing government benefits (ABLE account beneficiaries can contribute more to their own account). You don't have to invest in your own state's plan, but if you are a resident of one of the states that do offer a tax break for ABLE accounts, you can deduct your contribution. For more information, go to the ABLE National Resource Center's website. 

Reap the Tax Harvest
​The tax code allows you to sell investments that have fallen below your purchase price and use the resulting loss to offset capital gains in taxable accounts. That's a compelling reason to consider jettisoning your losing positions. Investments that you've held for a year or less are taxed as ordinary income, but investments you've held longer are taxed at the long-term capital gains rate, which ranges from 0% to 23.8%.
     
After matching short-term losses against short-term gains, and long-term losses against long-term gains, any excess losses can be used to offset the opposite kind of gain. If you still wind up with an overall net capital loss, you can use up to $3,000 of that loss to offset ordinary income and roll the rest over to the following year. Note that once you sell an asset at a loss, you must wait 30 days before reinvesting in it or buying a substantially identical investment.
Single investors with income less than $39,375 ($78,750 for joint filers) pay no capital gains tax on investments held for more than a year. If that's the case, it may make sense to sell winning investments tax-free and reinvest (no need to wait 30 days), effectively resetting the odometer on future gains.
 
Watch for Capital Gain Distributions
Mutual funds are required to pay out to their shareholders any gains realized from the sale of stocks or bonds during the year. If you own the fund in a taxable account, you must pay taxes on these distributions when you file your tax return, even if you reinvest them.
     
If you get hit with a distribution, review your portfolio to see if you have any mutual funds, stocks or bonds that have declined in value since you purchased them. Selling them before year-end will provide losses to offset your gains. Mutual funds typically publish an estimate of their capital gains distributions in November or December, along with the date of the distribution. Estimates are on a per-share basis, so if you figure out how many shares you have, you can gauge the size of your distribution.
    
Interested in buying a fund before the end of the year? Check its website first. If the fund plans to make a capital gains distribution, postpone your purchase until after the distribution date. Otherwise, you'll have to pay taxes on gains racked up before you got on board.

Max Out Your Pre-Tax Retirement Savings
As the year comes to a close, you may be able to squeeze a little more money from each paycheck for your retirement savings. You can contribute up to $19,000 to a 401(k), 403(b) or federal Thrift Savings Plan in 2019, plus $6,000 in catch-up contributions if you're 50 or older.
Pretax contributions will lower your take-home pay and reduce your tax bill. If your employer offers a Roth 401(k), you can make contributions that won't lower your taxable income now but that can be withdrawn tax-free in retirement. If your employer offers both types of plans, you can direct new contributions to the Roth 401(k) rather than the pretax 401(k) at any time.
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Contact your 401(k) administrator or your employer's human resources department ASAP to find out how much you're on track to contribute to your 401(k) by the end of the year and to ask about the steps you need to take to boost your contributions. The earlier you make the change, the better: 401(k) contributions are made through payroll deduction. If you're contributing to a traditional or Roth IRA for 2019, you have until April 15, 2020.
    
If you aren't on track to max out your retirement account for the year, adding money from a year-end bonus can be a great way to boost your contributions without affecting your regular take-home pay. Rules vary, and some plans don't allow participants to contribute their bonus. Also make sure that you don't cross the annual contribution limit. You have until the tax-filing deadline to withdraw any extra contribution and the earnings on it, which will both be taxable. If you don't take it out, the excess contribution will be taxable now and you'll have to pay taxes on it again when you finally withdraw the money.

401(k) and 403(b) retirement plans must be establishes by December 31st 2019. SEP IRA's must be established before your 2019 taxes are filed.
 
Open a Donor-Advised Fund
Putting your money or other assets, such as stocks or personal property, in a donor-advised fund allows you to deduct the entire contribution in the year you make it and decide later how you want to dole out grants to charities of your choice. You can open a donor-advised fund at financial-services firms such as Fidelity Charitable (minimum investment: $5,000) or Schwab Charitable ($5,000 minimum) or at community foundations. Contributing one lump sum this year may help lift your deductions above the standard deduction amount and allow you to itemize.


Max Out Charitable Donations (and Declutter)
Donating clothes, kitchenware or furniture you no longer need can also boost your deductions while helping a worthy cause. You'll base your deduction on the donated item's "fair market value" (or what it might sell for at a thrift or consignment shop)—you can use online tools such as TurboTax's ItsDeductible tool to estimate this value. You will need a written acknowledgment from the organization if you are claiming a contribution of $250 or more (consider snapping a photo of the donation for your records). For donated items valued at more than $5,000 (art, antiques, etc.), plan on providing a written appraisal.
 
Transfer IRA Money to Charity
Taxpayers who are 70½ or older can transfer up to $100,000 from a traditional IRA tax-free to charity each year, as long as they transfer the money to the charity directly.
 
The "qualified charitable distribution" will count as your required minimum distribution without being added to your adjusted gross income, which can be a boon if you were going to take the standard deduction instead of itemizing (you can't deduct charitable transfers). The transfer could also help keep your income below the threshold at which you're subject to the Medicare high-income surcharge as well as hold down the percentage of your Social Security benefits subject to tax. Make a QCD well in advance of New Year's Eve because the money has to be out of the account and the check needs to be cashed by the charity by December 31.
 
Consider a Roth Conversion
Consider con­verting some money from a traditional IRA to a Roth IRA this year, up to the top end of your income tax bracket. You'll pay taxes on the conversion (minus any portion that represents nondeductible IRA contributions), but the money will grow tax-free in the Roth after that. Converting your entire traditional IRA balance can bump you up to a higher tax bracket, but you can spread conversions over several years. Be careful about making a large conversion if you're within two years of signing up for Medicare—you'll have to pay extra for Medicare Part B if your adjusted gross income (plus tax-exempt interest income) is more than $85,000 if you're single or $170,000 if you're married filing jointly. Your last tax return on file determines your Medicare premiums, so a 2019 conversion could affect 2021 premiums.

Newly formed Oregon businesses have received a solicitation from OR Certificate Services offering a Certificate of Standing/Existence for $77.25. Many businesses do not need this certificate. Those that do may obtain one directly from the Secretary of State for $10. 

This solicitation may appear to be from a government agency, but its not. A copy of the Solicitation can be viewed here. 

If you were misled by this solicitation, you may request a refund. To obtain a refund, call OR Certificate Services at 1-855-210-6990 or 1-855-755-3357 between 9 am & 5 pm EST. 

Official correspondence from the Oregon Secretary of State Corporation Division always contains the following elements:

• An image of the Oregon State seal;
• The words, Secretary of State Corporation Division; and 
• Oregon Secretary of State phone number 503-986-2200

To view other types of schemes that spammers and scammers are using, visit the Business Alert page.  If you believe you have been a victim of a business scam, please contact the Secretary of State at Corporation.Division@Oregon.gov or 503-986-2200.

To receive a tax deduction for contributions to an Oregon College Savings Plan on your 2019 taxes, contributions will need to be made prior to December 31st, 2019. Starting January 1st, 2020 the Oregon College Savings Plan is moving to a tax credit. If you file an Oregon income tax return, contributions made to your account before the end of 2019 are deductible up to a certain limit. For 2019, the limit individual taxpayers are allowed to deduct is $2,435 or $4,865 if filing jointly. You may also carry forward a balance over the following four years for contributions made before the end of 2019. 

Recapture provisions apply. This means that if you withdrew funds for non-qualified expenses from your Oregon College Savings Plan account and you claimed a tax benefit for that year’s contribution, the state of Oregon will recapture any Oregon State income tax benefits that you had accrued on the principal portion of that withdrawal. 

Worth noting, any funds that you plan to roll over from another 529 College Savings Plan are considered “new contributions” and will count towards the limit you’re allowed to deduct in a given tax year. 

For more information, visit The Oregon College Savings Plan website. 

​Filling out your 1099-Misc for Vendors in 2018
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There a several different types of 1099s that exist in the federal 1099 information reporting series. However, one of the most popular forms that small businesses need to file is the Form 1099-MISC.

What is a Form 1099-MISC?
Form 1099-MISC is essentially an information report that is required to be sent to certain recipients who have been paid during the year in the course of a trade or business. A copy of the Form 1099-MISC is also reported to the Internal Revenue Service (and some states) for their records as well. Failure to file a required 1099 may result in denied expense deductions upon audit and additional penalties and fees (typically $30 to $100 per missed filing for federal purposes).

Form 1099-MISC Filing Requirements
Form 1099-MISC is required to be filed in several instances. However, some of the most common examples are as follows:

• Non-employee Compensation/Independent Contractors – required when $600 or more is paid during the year to a non-employee. Includes payment for professional services (fees to attorneys, accountants, engineers, repairman, etc.).
• Rents – all types when the amount paid is $600 or more (unless made to a real estate agent). Examples include real estate rentals for office space, machine rentals, etc.
• Royalties- amounts that exceed $10. Examples include payments to authors, musicians, artists, etc.
• Direct Re-sellers – required when sales are made in the amount of $5,000 or more of consumer products anywhere other than to a permanent retail establishment.

1099-MISC Filing Exemptions
There are a few cases when Form 1099-MISC does not need to be filed even though it may have met the aforementioned requirements.  A few examples are as follows:

• Note that 1099-MISC generally do not need to be issued to corporations.
• Amount paid via credit card, debit card, or third-party settlement company (i.e., PayPal) should not be reported on a 1099-MISC as they will be now be reported on Form 1099-K by the bank or third-party.

Tax Reporting of 1099-MISC
There is now a question on tax returns which specifically ask if a business was required to issue 1099s and if so, whether they were filed.  Therefore, the IRS has implemented extra measures to make sure the 1099s are filed and will likely begin strictly enforcing the rules.  It is advised to collect a Form W-9 from all vendors so that 1099s can be issued if needed.

Form 1099-MISC Due Date
Form 1099-MISC is due each year to the recipient by January 31st. New this tax year, Form 1099-MISC is now due to the IRS by the January 31st deadline. The new accelerated deadline will help the IRS improve its efforts to spot errors on returns filed by taxpayers.  

New Address: 2330 NW 31st Ave. Portland, OR 97210
We are excited to announce our new location.  It's beautiful and we have free parking too.  We are just a half mile away from the former office in NW Portland. Find street parking, walk through the fence and up the steps to the main door. From there find us on the call box and we will buzz you in. We are on the first floor, the first door on the right.  Let us know if you have trouble finding us.  See you soon!
​

By: Sandra Block, Senior Editor
From Kiplinger’s Personal Finance, December 2017
 
The outlook for tax reform is still uncertain, but this much seems clear: Tax rates are unlikely to go up in 2018, and there’s a good chance that they’ll go down for most taxpayers. That makes some year-end tax strategies even more attractive this year than they’ve been in the past. 

For example, many taxpayers make the bulk of their charitable contributions at the end of the year. But you may want to disburse some of next year’s generosity in 2017 because those deductions will be less valuable if you find yourself in a lower tax bracket next year. And even if rates remain flat, you’ll still get the benefit of taking a deduction sooner rather than later.

Don’t limit yourself to cash gifts. Many large charities accept donations of appreciated securities. If you’ve owned a stock or other security for more than a year, you can deduct its value on the day you make the donation. You won’t pay tax on the gain, and the charity won’t either. Another option is to donate appreciated securities to a donor-advised fund, which allows you to take the deduction on your 2017 tax return and distribute the funds later.
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Don’t have enough deductions to itemize? If you’re 70½ or older, you can donate up to $100,000 from your IRA directly to charity. The contribution counts toward your required minimum distribution and isn’t included in your adjusted gross income. That could qualify you for tax breaks tied to your AGI and reduce or eliminate taxes on Social Security benefits.

Speed up deductions, defer income. If possible, paying your mortgage and state income taxes due in January by December 31 is another way to beef up your 2017 deductions. And there’s another reason you should pay your 2018 state income tax bill early: The deduction for state and local taxes—particularly valuable to people who live in high-tax states—is in jeopardy. Key Republican lawmakers would like to eliminate or reduce the deduction to offset the cost of lowering income tax rates. One caveat here: If you’re subject to the alternative minimum tax, you can’t deduct state and local taxes, so there’s no benefit to paying those bills early, says Tim Steffen, director of advanced planning for Baird’s private wealth management business.

One final incentive for beefing up your 2017 itemized deductions: If the proposal by Republican leaders to double the size of the standard deduction comes to fruition, this could be the last year that millions of taxpayers benefit from itemizing.

Parents of college students may want to pay tuition bills due in January before December 31 so they can take full advantage of the American Opportunity tax credit. The credit is worth up to 100% of the first $2,000 spent on qualifying expenses and 25% on the next $2,000, up to a maximum of $2,500 for each qualifying student. Married couples filing jointly with modified adjusted gross income of up to $160,000 can claim the full credit; those with MAGI of up to $180,000 can claim a partial amount.

Deferring income until next year is another smart strategy because the income may be taxed at a lower rate then. Self-employed taxpayers can send invoices to customers in late December to defer payments until next year. If you expect to receive a bonus, ask your employer to hold off on paying it until January. Keep in mind, though, that if your employer has already announced that it will pay bonuses in December, it’s taxable income for 2017, even if you wait until next year to cash the check.

Strategies for retirees. With a possible tax cut on the horizon, retirees who are 70½ or older should look at the most tax-efficient way to take their required minimum distributions from retirement accounts. If you turned 70½ this year, for example, you have the option of postponing your first RMD until April 1, 2018. That may make sense. If rates decline in 2018, you’ll pay lower taxes on the distribution, Steffen says. The downside to this strategy is that you’ll have to take two RMDs next year—one for 2017 and one for 2018—and pay taxes on both distributions in the same year.

If you’re older than 70½, you must take your RMD by December 31 to avoid a hefty 50% penalty on the amount you should have withdrawn. But if you’re thinking of taking more money out of your traditional IRA than you’re required to withdraw, postponing that extra withdrawal until January could save you money if your tax rate declines in 2018.

Tax moves for investors. Want to cash in some of your stock market gains in your taxable portfolio? If you’re in the 10% or 15% tax bracket, you can take advantage of the 0% capital gains rate to harvest those profits tax-free. In 2017, married couples filing jointly with taxable income of up to $75,900 are eligible for the 0% rate, and singles with taxable income of up to $37,950 can cash in tax-free. (Remember, taxable income is after subtracting deductions and exemptions.) Retirees who have been living off income from their cash reserves are good candidates for this maneuver because their income may be low enough to fall into the 10% or 15% bracket. Be mindful that the 0% capital gains rate applies only to the extent that your gains don’t push you into the 25% bracket; profit that falls into that bracket is taxed at 15%. Also, your state may still tax your profits, even if the feds give you a pass.

If you don’t qualify for the 0% rate but own stocks or mutual funds that have declined in value, consider selling before year-end. You can use the losses to offset gains from the sale of other investments or capital gain distributions from your mutual funds. If your losses exceed your gains (or you don’t have any gains), you can use your losses to offset up to $3,000 in ordinary income. Unused losses can be carried over to future years.

Another strategy for taxpayers who don’t qualify for the 0% capital gains rate is to give appreciated securities to someone who does qualify, such as an adult child or elderly parent. The recipient can sell the securities tax-free. In 2017, you can give up to $14,000 in cash or other assets per person to as many individuals as you would like without filing a gift tax return.

More ways to save
Contributing to a tax-favored account before year-end is another way to lower your federal or state taxes.

Retirement plans. Contributions to a 401(k), 403(b), 457 or federal Thrift Savings Plan won’t be included in your 2017 taxable income. You can contribute up to $18,000 in your workplace plan, or $24,000 if you’re 50 or older. If you want to boost contributions from your last paychecks of the year, visit your payroll office ASAP. You have until April 17, 2018, to contribute to a traditional or Roth IRA for 2017.

529 college-savings plans. You can’t deduct contributions to these state-sponsored plans on your federal tax return, but 34 states allow write-offs on state returns. For example, a married couple in New York—which has a maximum state income tax rate of 8.8%—can deduct up to $10,000 in contributions annually to the state’s 529 plan. Earnings on your savings are tax-free as long as the money is used for qualified college expenses.

ABLE accounts. These plans, created in 2014, allow parents and others to save for a disabled young person’s future needs, such as assisted living and special wheelchairs. Beneficiaries must have developed a qualifying disability before age 26. You can contribute up to $14,000 to an ABLE plan in 2017. As with 529 plans, there’s no federal tax deduction, but some states allow you to deduct part of your contribution. Michigan, for example, allows married couples to deduct up to $10,000 from their state taxes; singles can deduct up to $5,000. Twenty-seven states and the District of Columbia offer these programs.

How to write off disaster losses
If your home was damaged by a hurricane this year, there’s a good chance you’ll be able to write off losses that aren’t covered by your homeowners insurance on your 2017 return.

Ordinarily, you have to subtract $100 from your total loss and then subtract 10% of your adjusted gross income. But in late September, Congress approved legislation that waives the 10% AGI requirement for victims of Harvey, Irma and Maria. They’ll be allowed to deduct all of their un­reimbursed losses after subtracting $500. The bill also allows hurricane victims who don’t itemize to claim the deduction.

Because the Federal Emergency Management Agency designated counties affected by the hurricanes as fed­erally declared disaster areas, you may deduct the loss for 2016 or 2017. Choose the year that saves you the most money. If you decide to claim it for 2016, you’ll need to file an amended return and get a refund from the IRS.

​By Brent Hunsberger | For The Oregonian/OregonLive 
Email the author | Follow on Twitter
on January 09, 2016 at 6:01 AM



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​          What has happened in Washington D.C.?
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          For the first time in a long time, there's been a spasm of bipartisan lawmaking and deal hatching that has averted government shutdowns and global hand wringing.
          Last month's tax package is the latest example. It made permanent a number of tax breaks scheduled to expire practically every year, only to be extended at the last minute (or, in one case, after Jan. 1).
          This kind of of jerk-chain legislation frustrated taxpayers and tax practitioners. As if the tax code wasn't confusing enough.
          But this recent act of true governance stands to benefit all walks of life – teachers, parents, retirees with IRAs. And residents of that state north of the Oregon border that imposes no income tax and shall not yet be named.
          It's a great way to kick off tax season. Here's another: Oregonians don't need to pay their state and federal tax bills until Monday, April 18 -- three days later than usual.  That's thanks to Emancipation Day, a Washington-D.C.-only-holiday that falls on April 15 because the normal holiday, April 16, hits the calendar on a Saturday this year.
          The extension deadline for filing your return also differs. It's Oct. 17 instead of Oct. 15. Still, you need to pay any tax you owe for 2015 by April 18. Otherwise, you face late-payment penalties .
"An extension to file is not an extension to pay," Oregon Department of Revenuespokesman Robert Estabrook said.
          As Estabrook's colleagues and the Internal Revenue Service gear up to accept tax returns Jan. 19, let's look at what expiring federal tax breaks were made permanent.

          Enhanced child tax credit. This credit provides $1,000 per child under age 17. For many taxpayers, the credit can be refundable, meaning it can produce a refund even when the taxpayer owes no tax. In 2009, Congress expanded the refundable credit by reducing the income threshold at which it could be claimed from $10,000 to $3,000. Now, that lower threshold has been made permanent.

          American Opportunity Tax Credit. In 2009, this credit replaced the Hope scholarship credit. But it was slated to expire in two years. Now it's permanent. And no wonder: In 2013, 10.4 million federal taxpayers reaped $9.25 billion from this credit, or about $890 each, IRS data show.
          The credit covers the first $2,000 of college tuition and materials and 25% of the next $2,000. That's a maximum of $2,500 for each of the first four years of college. Taxpayers whose modified adjusted gross income is more than $80,000 (or $160,000 for couples filing jointly) receive a reduced credit. Those whose income exceeds $90,000 (or $180,000 for couples) are ineligible.
Part of the credit is refundable for most taxpayers who qualify. By comparison, the Hope credit was smaller, wasn't refundable, phased out at lower income levels and was only available for the first two years of college.

          Educators' deduction. Score one for teachers. Congress made permanent the $250 deduction for unreimbursed educator expenses, and also sweetened it a bit.
          The deduction amount will now be indexed for inflation (it hadn't changed in years). And starting in 2016, primary and secondary teachers can deduct the cost of professional development courses. Counselors, aides and principals also can claim the deduction, though aides must work at least 900 hours a year.
          It's a popular break. In 2013, nearly 33,400 Oregon taxpayers claimed the deduction, averaging $241, according to Oregon Department of Revenue data.

          Sales tax deduction. Poor Washingtonians. They can't take itemized deductions for  state income taxes like Oregonians can because THEY DON'T PAY INCOME TAX! Instead, Congress had allowed them to deduct sales taxes in lieu of income taxes. In 2013, nearly 850,000 Washington taxpayers deducted a total of $2 billion in sales taxes, IRS stats show.
          That break had been scheduled to expire in 2014. It's now been reinstated for 2015 and all years forward. Washingtonians, I'm told, can either tally the actual taxes paid by adding up their receipts. Or they can use a table provided by the IRS. Lucky them.

          Transit benefits. Congress finally brought some sanity to employer-provided transit perks. For 2015, employers could have provided workers a pre-tax benefit of up to $250 a month for parking, vanpool and transit passes. That will bump up to $255 in 2016. Had Congress not acted, vanpool and transit pass perks would've dropped to $130 while parking passes would've remained at $250.

          Earned income tax credit. This credit provides a big boost for low- and moderate-income workers. It phases out as income increases. It also differs based on the number of children in a household. The credit for families with three or more children (45 percent of earnings up to $13,870) was set to expire in 2017.  It's now permanent. So is a higher income phase-out amount for married couples filing jointly. Now, the credit will phase out for couples earning more than $23,630, instead of for those making more than $18,110.

          Charitable IRA distributions. Retirees age 70-and-a-half and older can make tax-free donations directly to charities from their IRAs. This effectively reduces their annual required minimum distribution from their traditional IRAs and does not increase their adjusted gross income.  This benefit is capped at $100,000 a year.  It had expired at the end of 2014, but this move reinstates it for 2015 and makes it permanent going forward. The donation must be made directly from an IRA to the charity to qualify.
          It mainly benefits seniors who don't itemize their deductions or who might, by reducing their required minimum distribution, also be able to reduce the amount of their Social Security income subject to tax. Talk to your tax adviser to see if it benefits you.

          Temporary extensions: Several expiring breaks were merely extended through 2016, including deductions for higher education expenses and mortgage insurance premiums, certain energy-efficiency tax credits and an exclusion for mortgage debt forgiven during the financial crisis.
          A few business tax breaks  also were extended, either permanently or through 2019. Business owners should talk with their tax adviser about how those might help.

-- Brent Hunsberger is an investment adviser representative and certified financial planner in Portland.
​For important disclosures and information about Hunsberger, visit ORne.ws/aboutbrent. Reach him at 503-683-3098 or itsonlymoneyblog@gmail.com.