Tax Credits Available for Providing Employees with Paid Leave for COVID-19 Vaccinations
by Kevin Bell, Partner
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On Wednesday April 21, 2021, the IRS, in conjunction with President Biden, announced that eligible employers that provide paid leave for employees to receive and recover from COVID-19 vaccinations are eligible for a refundable tax credit. The credits are only available for employers with fewer than 500 employees and is limited to wages paid between April 1, 2021 through September 30, 2021. |
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Restaurant Revitalization Fund Summary
by Matthew Diment, Senior Manager
Do you own a restaurant, brewery, winery or taproom? You may qualify to receive assistance from the American Rescue Plan's $28.6 billion Restaurant Revitalization Fund.
Registration for the application portal begins on Friday, April 30 at 6:00 am PST, and applications will open on Monday, May 3 at 9:00 am PST.
In the meantime, we've summarized the key points you should know about grant requirements and the application process.
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From the Kernutt Stokes Blog |
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Real News in the Definition of Real Property for Purposes of Section 1031 Exchanges
by Gunnar Haugen, Senior Manager
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Most real estate investors are familiar with section 1031 exchanges, and by now, most of these investors have also likely been informed that the Tax Cuts and Jobs Act, passed at the end of 2017, limited the application of that section to exchanges of “real property.”
Late last year, the U.S. Treasury helped address some of this uncertainty by issuing regulations that provide taxpayers with guidance regarding the definition of real property for purposes of section 1031 and are effective for exchanges beginning after December 2, 2020.
Senior Manager Gunnar Haugen breaks down two aspects of the regulation in a new KS Blog article.
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How to Foster Company Culture in “the New Normal” We Live in Now
by Amy Delaney, Marketing & Business Development Manager
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Over the past year, the COVID-19 pandemic has redefined “normal” in almost every aspect of our lives, including our work lives.
Many employees have been forced out of the traditional office environment where they’ve always worked and adapted to a new work-from-home model. Yet, a big part of the workplace experience is the daily interaction with our work family. Not surprisingly, this personal and social aspect of work has suffered a major blow during the pandemic.
Learn three tips for maintaining a company culture and staying socially connected even when we have to be physically distant in this new KS Blog article by Marketing & Business Development Manager Amy Delaney.
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Haley Lyons Appointed to
Board of Accountancy
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Congratulations to Haley Lyons, partner, who was recently confirmed to the Oregon Board of Accountancy by the Oregon Senate. Please join us in recognizing Haley for this very prestigious honor!
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First Kernutt Stokes
Scholarship Winner Announced
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Congratulations to Luis Jimenez Maldonado, the first recipient of our scholarship through the Oregon Society of CPAs. Luis will be a fifth-year senior at Portland State University this fall |
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As we shared in the last KS Advisor, we are relocating our Corvallis office from downtown to the Kings Crossing professional offices. The new office will be opening in June.
In the meantime, lots of upgrades are being done to the office space, with old walls coming down and new walls going up. The new office is 6,000 square feet and has space for up to 21 employees, double the size of our current office.
To learn more about our new Corvallis office, click here. |
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Service Spotlight:
Software Solutions Group
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Have you outgrown your accounting system? |
Download our free guide on the five signs your accounting system is holding you back.
To learn more about a modern cloud-based accounting solution, contact us. |
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Due to COVID-19, meeting prospective and new clients looks a bit different this year. Meetings are held via video conference, and while we look forward to when we can meet in person again, we created a video to provide an overview of Kernutt Stokes. |
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Bend | Corvallis | Eugene | Lake Oswego
541-687-1170
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