Business Pro Advisor, LLC

10/31/2024

Come stop by to show off your Halloween costumes and Trick or Treat with us!
Open 9:00AM-5:00PM

Don't forget to check out all the other local businesses as well! 🎃👻

11/28/2021

https://www.youtube.com/watch?v=yuEiRudGffE

Find out if you need to fill out a new Form W-4 to make sureyou’re having enough federal tax withheld from your paycheck.For more information, go to https://...

07/07/2021

03/20/2021

If you had unemployment and already filed your return,
the IRS has indicated they will re-figure taxes on your return.

They will adjust your account accordingly and then send any refund amount directly to the you (taxpayer).

The IRS has not yet communicated a timeline for making adjustments and sending refunds.

We are waiting on Oregon to decide how they will handle the change.

02/08/2021

https://www.irs.gov/newsroom/common-questions-about-recordkeeping-for-small-businesses

Here are answers to some common business-related recordkeeping questions.

02/08/2021

https://www.irs.gov/newsroom/employee-retention-credit-for-businesses-affected-by-covid-19

May 8, 2020 — The employee retention credit encourages businesses to keep employees on their payroll.

12/20/2020

Hi JC, hope you enjoy our lights for the Reverse Parade!

Accepting new clients for accounting & tax services. Contact us to get a jump-start on next year's filings! 🗂📅

Business Pro Advisor
355 Holly St. Junction City, OR
(541) 359-0901
[email protected]

08/17/2020

Question. I’ve heard of the Economic Injury Disaster Loan (EIDL), EIDL advance, and the PPP. What are the differences?

Answer. We’ll deal with the big picture here. It will prove helpful.

PPP. The PPP is the cash infusion program of choice. The cash infusion part comes from a bank or other SBA lender and is based on your prior payroll (2019 in most cases). It comes into your business as a forgivable loan if you spend the money on defined payroll, interest, rent, and utilities during a period of up to 24 weeks.

EIDL. Unlike the PPP loan, which comes from a bank or other approved SBA lender, the EIDL is a loan directly from the SBA; it carries a 3.75 percent interest rate, may require collateral, and must be repaid.

EIDL advance. The EIDL advance, when available, comes into play with the EIDL application. It’s an advance on the EIDL of up to $10,000. If you reject or don’t receive an EIDL and don’t have a PPP loan, the EIDL becomes a non-taxable grant and does not have to be repaid.

If you have a forgivable PPP loan, you reduce the amount of forgiveness by the amount of your EIDL advance.

04/10/2020

If you are not required to file a tax return, IRS has launched a new web tool to allow quick registration for Economic Impact Payments. Watch out for scams! Use this link.

Steps to receive the Economic Impact Payment if you haven't filed a tax return for 2018 or 2019, and aren't receiving Social Security, SS Disability Income or Railroad Retirement benefits. This payment is also referred to as "stimulus checks" or "coronavirus relief."

03/27/2020

Oregon Filing Deadlines:
For Personal Income Tax (PIT), Transit Self-Employment Tax, and Fiduciary Taxpayers:
• The Oregon return filing due date for tax year 2019 is automatically extended from April 15, 2020 to July 15, 2020.
• The Oregon tax payment deadline for payments due with the tax year 2019 tax return is automatically extended to July 15, 2020.
Estimated tax payments for tax year 2020 are NOT extended.