Above All Accounting, Inc - Clackamas

10/29/2026

Should I Do A Roth Conversion Before Year-End? When McMinnville Taxpayers Should Skip It

Wondering, “Should I do a Roth conversion before year-end?” For many, it’s a costly mistake. Here are 6 scenarios where you should skip it.

10/29/2026

What's scarier than Halloween? An IRS tax bill that keeps growing while you're afraid to open the notices…

If you can't afford to pay your balance, log in to your IRS online account and check what you owe, including penalties and interest.

Then see if you qualify to apply online for an installment agreement. You may be able to pay the balance in monthly payments instead of all at once.

𝘞𝘩𝘢𝘵'𝘴 𝘰𝘯𝘦 𝘵𝘩𝘪𝘯𝘨 𝘢𝘣𝘰𝘶𝘵 𝘐𝘙𝘚 𝘱𝘢𝘺𝘮𝘦𝘯𝘵 𝘱𝘭𝘢𝘯𝘴 𝘺𝘰𝘶'𝘥 𝘭𝘪𝘬𝘦 𝘶𝘴 𝘵𝘰 𝘦𝘹𝘱𝘭𝘢𝘪𝘯?

10/28/2026

Unreported Crypto Gains? How McMinnville Taxpayers Can Fix Past Tax Returns

Missed crypto gains on past tax returns? Learn how to calculate your actual gains, correct earlier filings, and address IRS 1099-DA reporting.

10/28/2026

𝗪𝗵𝘆 𝗱𝗼𝗲𝘀 𝗺𝘆 𝗰𝗿𝘆𝗽𝘁𝗼 𝘁𝗮𝘅 𝗳𝗼𝗿𝗺 𝘀𝗵𝗼𝘄 $𝟮𝟬𝟬,𝟬𝟬𝟬 𝗶𝗻 𝘀𝗮𝗹𝗲𝘀 𝘄𝗵𝗲𝗻 𝗜 𝗼𝗻𝗹𝘆 𝗺𝗮𝗱𝗲 $𝟭𝟬,𝟬𝟬𝟬?

Because Form 1099-DA can show your total sales without showing what you originally paid.

Let's say you bought Bitcoin for $190,000 and sold it for $200,000. Your taxable gain is $10,000, not $200,000.

But if you bought it on Coinbase and sold it on Kraken, Kraken may not know your original purchase price. And that information may be missing from the form sent to the IRS.

Here's what I'd recommend:
1. Download your transaction histories from every exchange and wallet you've used.
2. Match your sales to their original purchase prices and qualifying fees.
3. Compare your calculations with what's reported on Form 1099-DA.

Missing purchase records? We can help trace your transactions and calculate your actual gains before you respond to an IRS inquiry.

10/27/2026

Could inflation actually work in your favor when it comes to your taxes?

Some parts of the tax code adjust for inflation every year, while others don't. And those differences could affect your 2026 tax bill in ways you wouldn't expect.

https://www.kiplinger.com/taxes/604977/inflation-and-taxes

10/26/2026

𝗛𝗼𝘄 𝗰𝗮𝗻 𝗜 𝗱𝗼𝗻𝗮𝘁𝗲 𝘀𝘁𝗼𝗰𝗸 𝘁𝗼 𝗰𝗵𝗮𝗿𝗶𝘁𝘆 𝗯𝗲𝗳𝗼𝗿𝗲 𝘁𝗵𝗲 𝗲𝗻𝗱 𝗼𝗳 𝘁𝗵𝗲 𝘆𝗲𝗮𝗿?

To donate stock to charity, transfer the shares directly into the charity's brokerage account without selling them first.

Here's how:
1. Ask the charity for its stock transfer instructions, including its DTC number and brokerage account information.
2. Contact your brokerage firm to authorize the transfer, specifying which stock and how many shares you're donating.
3. Notify the charity beforehand. Electronic transfers don't always identify the donor, so the charity needs to know the shares are coming from you.
4. Request a written acknowledgment confirming the gift and whether you received anything in return.

And remember: 𝘚𝘶𝘣𝘮𝘪𝘵𝘵𝘪𝘯𝘨 𝘺𝘰𝘶𝘳 𝘵𝘳𝘢𝘯𝘴𝘧𝘦𝘳 𝘳𝘦𝘲𝘶𝘦𝘴𝘵 𝘥𝘰𝘦𝘴𝘯'𝘵 𝘮𝘦𝘢𝘯 𝘵𝘩𝘦 𝘥𝘰𝘯𝘢𝘵𝘪𝘰𝘯 𝘪𝘴 𝘤𝘰𝘮𝘱𝘭𝘦𝘵𝘦.

For year-end planning, you'll want the shares to reach the charity's account by December 31. I'd recommend starting by early December to leave time for processing and confirming receipt.

𝘏𝘢𝘷𝘦 𝘺𝘰𝘶 𝘦𝘷𝘦𝘳 𝘥𝘰𝘯𝘢𝘵𝘦𝘥 𝘴𝘰𝘮𝘦𝘵𝘩𝘪𝘯𝘨 𝘰𝘵𝘩𝘦𝘳 𝘵𝘩𝘢𝘯 𝘤𝘢𝘴𝘩 𝘵𝘰 𝘢 𝘤𝘩𝘢𝘳𝘪𝘵𝘺? 𝘏𝘰𝘸 𝘥𝘪𝘥 𝘵𝘩𝘦 𝘱𝘳𝘰𝘤𝘦𝘴𝘴 𝘨𝘰?

10/23/2026

𝗪𝗵𝗮𝘁 𝗶𝘀 𝗼𝗻𝗲 𝗺𝗼𝗻𝗲𝘆 𝗺𝗼𝘃𝗲 𝘆𝗼𝘂 𝘄𝗶𝘀𝗵 𝘆𝗼𝘂 𝗰𝗼𝘂𝗹𝗱 𝘁𝗮𝗸𝗲 𝗯𝗮𝗰𝗸?

It's probably on this list of spending decisions that haunt Americans long after Halloween.

https://www.nerdwallet.com/finance/studies/2026-financial-regrets-study

10/22/2026

Do HSA Funds Expire at the End of the Year? Answers from a McMinnville Tax Pro

Do HSA funds expire at the end of the year? No, your money rolls over indefinitely. Focus on topping off your HSA to cut your taxable income.

10/22/2026

𝗖𝗮𝗻 𝗖𝗵𝗮𝘁𝗚𝗣𝗧 𝗰𝗮𝗹𝗰𝘂𝗹𝗮𝘁𝗲 𝗵𝗼𝘄 𝗺𝘂𝗰𝗵 𝗜 𝘀𝗵𝗼𝘂𝗹𝗱 𝗼𝗳𝗳𝗲𝗿 𝘁𝗵𝗲 𝗜𝗥𝗦 𝘁𝗼 𝘀𝗲𝘁𝘁𝗹𝗲 𝗺𝘆 𝘁𝗮𝘅 𝗱𝗲𝗯𝘁?

It can give you an estimate, but that number could be quite different from what the IRS would actually consider.

Why? Let's say you have a $1,200 monthly car payment.

You tell ChatGPT your income and expenses, and it subtracts that entire $1,200 when calculating how much you can afford to pay the IRS.

But the IRS has its own allowable living expense standards. It may only recognize a portion of that car payment unless you can document why an exception applies.

That difference affects your disposable income, which is part of how the IRS determines whether to accept an Offer in Compromise.

And a settlement offer based on the wrong numbers could mean paying an application fee and initial payment without resolving your tax debt.

Thinking about an IRS settlement? 𝗖𝗼𝗺𝗺𝗲𝗻𝘁 𝗢𝗙𝗙𝗘𝗥 𝗯𝗲𝗹𝗼𝘄. We'll review your actual allowable expenses and calculate a realistic settlement number the IRS is likely to approve.

10/21/2026

𝗖𝗮𝗻 𝗜 𝗱𝗼𝗻𝗮𝘁𝗲 𝘀𝘁𝗼𝗰𝗸𝘀 𝘁𝗼 𝗰𝗵𝗮𝗿𝗶𝘁𝘆 𝗶𝗻𝘀𝘁𝗲𝗮𝗱 𝗼𝗳 𝗰𝗮𝘀𝗵 𝗮𝗻𝗱 𝘀𝗮𝘃𝗲 𝗼𝗻 𝘁𝗮𝘅𝗲𝘀?

Yes, if you own stock that's increased in value, donating the shares directly to a qualified charity can save you capital gains taxes while giving you a potential charitable deduction.

𝘌𝘹𝘢𝘮𝘱𝘭𝘦: You bought stock for $5,000 a few years ago. Today, it's worth $20,000.

If you sell it, you realize a $15,000 taxable capital gain, even if you donate all the proceeds afterward.

But if you transfer the shares directly to the charity, you avoid realizing that gain. And if you've held the stock for more than a year and itemize, you may be able to deduct its full $20,000 value (subject to IRS deduction limits).

So, if you're planning year-end charitable donations, it's worth looking at the investments you already own before writing a check.

𝘞𝘩𝘢𝘵 𝘸𝘰𝘶𝘭𝘥 𝘺𝘰𝘶 𝘸𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘣𝘦𝘧𝘰𝘳𝘦 𝘥𝘰𝘯𝘢𝘵𝘪𝘯𝘨 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵𝘴 𝘪𝘯𝘴𝘵𝘦𝘢𝘥 𝘰𝘧 𝘤𝘢𝘴𝘩?