Krystal Davis CPA LLC

12/04/2025

I ran across this excellent article on personal cybersecurity. With so many bad actors online trying to get your personal information, it's important to take care to protect yourself and your family!

06/11/2025

Salem is rushing to pass House Bill 2025, a massive 102-page transportation package with 35+ new or increased taxes and fees that would cost our fellow Oregonians over $1 BILLION every single year.

This bill hits working families, rural communities, and small businesses the hardest.
What’s in HB 2025?
• Gas tax hike from 40¢ to 55¢/gallon—a 37.5% increase, tied to inflation so it will keep rising.
• Registration fee hikes of up to 270%.
• New car tax: 2% tax on every new vehicle sold.(HOW IS THIS NOT A SALES TAX?????)
• Used car tax: 1% tax on used vehicles over $10,000.
• Payroll tax increase: From 0.1% to 0.3%—a 114% hike, costing the average worker $205/year.
• and much more.
Speak up. Show up. Push back.
We need your help to stop this $1B bill. Submit testimony or speak out in person or remotely:

Thursday, June 12th at 4PM
o Testify in person at the Capitol in Hearing Room F OR
o Submit written testimony https://links-2.govdelivery.com/CL0/https:%2F%2Folis.oregonlegislature.gov%2Fliz%2F2025R1%2FTestimony%2FJTR%2FHB%2F2025%2F2025-06-12-16-00%3Farea=Measures/1/010101975fd097f1-583f14b7-36ba-46ac-b59c-b08e55f14cf4-000000/g0PyyW_GHXqOMHWFs5WyaCl84gFZsQHn15DSz7sXWO4=409
Sample Testimony You Can Use:
With the cost of living already straining Oregon families, this bill would make it even more difficult to get by. Raising gas taxes, registration fees, and payroll taxes will place an unfair burden on working families like mine. I urge you to vote no on HB 2025 and instead focus on holding ODOT accountable and making better use of the funding it already has.

Testimony submitted is made publicly available and becomes part of the public record. Do not submit testimony containing personal information that you do not want to be made public.

01/19/2024

In preparation for the February Special Legislative Session, a draft bill has been introduced (LC 22) which would create a statewide property tax! This appears to be a constitutional amendment to Oregon and is in addition the the current property tax structure and is an additional state tax!

The summary reads, “LC 22 proposes an amendment to Article IX, Finance, of the Oregon Constitution to require the Legislative Assembly to impose by law a state property tax to fund public safety and define taxable property, establish certain processes, and create an administrative entity. It allows the Legislative Assembly to set rates and certain exemptions. It exempts the property tax from Article XI, section 11, of the Oregon Constitution (Ballot Measure 50) (1997), or Article XI, section 11b, of the Oregon Constitution (Ballot Measure 5) (1990). It refers the proposed amendment to the voters at the 2024 General Election.”

Once these Constitutional limits are compromised, it will be one more way to tax you by your property taxes.

05/22/2023

Business owners beware - Don’t be misled into wasting your hard-earned money! There are lots of solicitations designed to be mistaken for official correspondence from the State of Oregon.

These solicitations are often sent by for-profit, out-of-state companies that offer to file your Annual Report for an extra $95 “processing fee,” which is not required under Oregon law.

The false mailings are typically postcards.

10/20/2022

https://studentaid.gov/debt-relief/application

It was initially expected that the student loan forgiveness would be handled automatically by the Department of Education. However, the guidance has changed and you must now apply for that forgiveness. The link to start the process is in this post.

You will be required to affirm that ONE of the following is true for 2020 (Jan. 1–Dec. 31, 2020) or 2021 (Jan. 1–Dec. 31, 2021):
You we're not required to file a tax return in 2020 or 2021, you are a single tax-filer AND made less than $125,000
or you were married, filed separately, AND made less than $125,000 Or
married, filed jointly, AND made less than $250,000 Or
filed as a head of household AND made less than $250,000.
Your AGI can be found on line 11 of the IRS Form 1040.

09/02/2022

Effective on or after July 1, 2022, the standard mileage rate
for business expenses is 62.5 cents per mile, from the 58.5 between Jan. 1, 2022, and June 30, 2022.
The rate for transportation for, and essential to, medical care under
also goes up to 22 cents per mile from 18 cents in the first
half of the year.

08/24/2022

Today President Biden announced student loan forgiveness of $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients.

Borrowers are eligible for this relief if their individual income is less than $125,000 ($250,000 for married couples). It did not state a phase out for income but it is expected that $75,000 might be the starting point for a phase out if one is set.

No dates for eligibility, or methods of calculation of income was provided. Presumably that information will be explained in the coming weeks.

The pause on federal student loan repayment will be extended one final time through December 31, 2022.

A three-part plan delivers on President Biden’s promise to cancel $10,000 of student debt for low- to middle-income borrowers President Biden believes

07/09/2020

If you received an Economic Impact Payment this year should keep Notice 1444, 'Your Economic Impact Payment', with your tax records. This notice provides information about the amount of your payment, how the payment was made and how to report any payment that wasn’t received.

05/11/2020

The Internal Revenue Service says taxpayers for whom the IRS does not have direct deposit information should go to the Get My Payment website and enter that information by noon EST Wednesday 5/13 so they receive their stimulus payment electronically. After that time, eligible taxpayers will have to wait for a paper check.

Use Get My Payment to get information about your payment status and payment type.

04/15/2020

Looking for the status on your economic rebate from the IRS?

Here is the link

We are offering help for taxpayers, businesses, tax-exempt organizations and others – including health plans – affected by coronavirus (COVID-19).

04/08/2020

Social Security Recipients Will Automatically Receive Economic Impact Payments

The U.S. Department of the Treasury and the Internal Revenue Service announced that

“Social Security recipients who are not typically required to file a tax return need to take no action, and will receive their payment directly to their bank account,” said Secretary Steven T. Mnuchin.

The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.

03/30/2020

H. R. 748 2020 CARES act recovery rebates in a nutshell

Advanced amount will be $1,200 for US citizen or qualified US Resident single filers, $2,400 for joint filers and $500 for each child under age 17.

The rebate is reduced by 5% income over $75,000 single, $112,000 head of household and $150,000 joint filers with full phase out at $99,000 single, $199,000 joint. If you did not file a return because your only income was social security payments, the IRS will use form SSA-1099 to determine eligibility.

Income is currently determined by 2019 return if already filed and 2018 if not filed. If you do not qualify when your 2019 return is filed you will be required to repay the credit with 2020 tax return.

Payments will be delivered electronically to the bank account on your most recent 2018 or 2019 return if you authorized direct deposit. Otherwise the payment will be mailed to the last address on IRS records.

Notices will be mailed to the last known address within 15 days after advance payment has been made and will indicate payment method, amount, and phone number to call if you did not receive it.