COVID-19 has taken the world by surprise. The virus has spread globally affecting communities, ecosystems, and supply chains. The full impact on businesses and supply chains is still unknown, but one thing is certain this epidemic will have global economic & financial ramifications. There are five MAJOR THINGS all business owners need to be aware of in these times. 

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Top Rated Local® Names John A. Warekois CPA as a Highest Rated Company in the State

Our customers are to thank as we have been included on the list of highest rated companies in Oregon by Top Rated Local®, a 5-pillar experience-based rating system that analyzes ratings and reviews from hundreds of verified review sites online and then ranks businesses based on their overall Rating Score™

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The Oregon Corporate Activity Tax is Effective January 1st, 2020

The Corporate Activity Tax requires businesses within Oregon who conduct commercial activity in amounts above $750,000 to register. Businesses with activity in amounts above $1 million are required to file a CAT return. Those businesses with taxable commercial activity in amounts exceeding $1 million must pay the Corporate Activity Tax. The tax is outlined by a $250 tax for a business’ first million of gross receipts after subtractions and a 0.57% tax on gross receipts after the million-dollar mark. 

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May Impact Premium Tax Credit Eligibility

Individuals who obtain health insurance through the Affordable Care Act (ACA) Health Insurance Marketplace must advise the Marketplace of changes in certain circumstances, the IRS has reminded taxpayers. Any life event, the IRS noted, may impact an individual’s eligibility for the Affordable Care Act Premium Tax Credit.