Category: Uncategorized

Multnomah County & Metro District: New local taxes

There are two new local income taxes beginning in 2021.  They affect individuals who live or work in the Metro District (greater Portland area) and Multnomah County.  The Metro District tax also has business tax for entities with more than $5 million in gross receipts. 1. Metro Income Tax for Supportive Housing Services: The program…

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Employee Retention Tax Credit – Employers Only

Photo of a tax consultant shaking a client's hand

Congress originally enacted the employee retention tax credit in the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March of 2020 to encourage employers to hire and retain employees during the pandemic. The credit is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays…

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