Above All Accounting, Inc - Clackamas

05/29/2026

𝙒𝙝𝙖𝙩 𝙖𝙧𝙚 𝙤𝙘𝙘𝙪𝙥𝙖𝙣𝙘𝙮 𝙩𝙖𝙭𝙚𝙨?

If you rent out your home, apartment, or spare room to guests, income taxes may not be the only tax issue on the table.

Occupancy taxes are taxes charged on the rental price paid by your guest. They’re sometimes called tourist tax, hotel tax, room tax, or lodging tax.

They’re different from income tax, which is based on your profit.

The confusing part is that occupancy tax rules can change depending on your city or county. And if the tax isn’t collected and sent in correctly, the penalties can be a real problem.

Have a short-term rental or thinking about starting one? Comment “RENTAL” to get help with the tax obligations.

05/28/2026

Do You Get Better Tax Breaks For Being Married, McMinnville Couples?

Do you get better tax breaks for being married? Discover how tying the knot changes your taxes, unlocks massive savings, and boosts retirement.

05/28/2026

𝘾𝙖𝙣 𝙢𝙮 𝙨𝙩𝙪𝙙𝙚𝙣𝙩 𝙡𝙤𝙖𝙣𝙨 𝙗𝙚 𝙙𝙞𝙨𝙘𝙝𝙖𝙧𝙜𝙚𝙙 𝙞𝙣 𝙗𝙖𝙣𝙠𝙧𝙪𝙥𝙩𝙘𝙮?

Yes, student loans can be discharged in bankruptcy, but it’s not automatic like credit card debt.

You have to prove that repaying the loans would create an undue hardship for you and your family.

For federal loans, your financial records may be reviewed before you ever go to trial. If the Department of Justice agrees that your situation meets the hardship standard, they can agree to the discharge.

Before filing, gather your records and know what kind of loans you have:
• Federal loans
• Private loans
• A mix of both

If you want to talk further about how discharged student loans affect your tax situation, comment "HELP" below.

05/27/2026

Google's updates to its search bar are really interesting: https://www.techbrew.com/stories/google-it-while-you-still-can

And you might be tempted to ask all kinds of tax questions with the new features. And the thing is, the answer might sound definitive in the results but actually still be wrong for your situation.

Tax questions need details that AI agents don't think to ask for.

Maybe your income changed. Maybe you got an IRS notice. Maybe you’re asking about a deduction, but the real issue is how your business is set up.

Don't rely on quick answers from Gemini when it comes to your IRS obligations.

Ask a professional you can trust (we're right here).

05/26/2026

𝘿𝙤 𝙄 𝙝𝙖𝙫𝙚 𝙩𝙤 𝙥𝙖𝙮 𝙩𝙖𝙭𝙚𝙨 𝙞𝙛 𝙄 𝙧𝙚𝙣𝙩 𝙤𝙪𝙩 𝙢𝙮 𝙝𝙤𝙢𝙚 𝙤𝙧 𝙨𝙥𝙖𝙧𝙚 𝙧𝙤𝙤𝙢?

If you’re charging people to stay in your house, apartment, or even just a spare bedroom, that income may need to be reported on your tax return.

In the eyes of the IRS and state taxing authorities, you’re acting as a landlord once guests are paying to stay there.

But the tax treatment depends heavily on your personal use of the space.

Two questions to think about:
1. How many days did guests stay there?
2. How many days did you use the property yourself?

So if you’re renting out part or all of your home, don’t just look at how much money came in.

Your guest days and personal-use days matter too.

05/25/2026

https://www.facebook.com/share/v/17mcyBq82M/

“Our debt to the heroic men and valiant women in the service of our country can never be repaid. They have earned our undying gratitude. America will never forget their sacrifices.”
–Harry S. Truman.

𝗧𝗵𝗲 𝘁𝗿𝘂𝗲 𝗺𝗲𝗮𝗻𝗶𝗻𝗴 𝗼𝗳 𝗠𝗲𝗺𝗼𝗿𝗶𝗮𝗹 𝗗𝗮𝘆 𝗶𝘀 𝘄𝗿𝗶𝘁𝘁𝗲𝗻 𝗶𝗻 𝘀𝗮𝗰𝗿𝗶𝗳𝗶𝗰𝗲.

For those who never came home and for the families who feel that absence every day, we honor you.

05/22/2026

"𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝘄𝗶𝗹𝗹 𝗜𝗥𝗦 𝗽𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 𝗮𝗱𝗱 𝘁𝗼 𝗺𝘆 𝘁𝗮𝘅 𝗱𝗲𝗯𝘁?"

IRS penalties can grow quickly, but they aren’t always final. In some cases, you may qualify for penalty abatement, which could reduce or even remove certain penalties if you have a valid reason and present your case correctly.

Here are four common tax penalties taxpayers face:
1. Failure-to-file penalty: up to 5% of unpaid taxes per month, capped at 25%.
2. Failure-to-pay penalty: generally 0.5% per month on unpaid balances, capped at 25%.
3. Accuracy-related penalties: often 20% of the underpayment for negligence or errors.
4. Tax evasion: the most serious category, with major fines and possible jail time.

The IRS may consider penalty relief when there’s “reasonable cause,” like hospitalization, a death in the family, a fire that destroyed records, or an unexpected job loss.

The key is knowing how to document what happened and follow the IRS process.

Which is a process that we're experts at working through. Come talk to us, and we'll help you find out if penalty abatement could be an option for you.

05/21/2026

When you owe the IRS, even normal expenses can feel frustrating. Gas being one of the more consequential ones right now.

You still have places to be, but every fill-up takes money out of your already stretched budget.

Making each tank go farther won’t fix the tax problem. But it can give you a little more room while you work on the bigger issue.

A few small driving habits, as the article suggests, may stretch your tank a little further.

But if the bigger issue is tax debt for you, let’s talk about your options.

https://www.toyota.com/car-tips/driving-tips-getting-best-fuel-economy/

05/21/2026

Will Filing For Bankruptcy Clear Student Loans For McMinnville Debtors?

Will filing for bankruptcy clear student loans? Learn how discharge, forgiveness, and tax reporting can affect IRS problems.

05/20/2026

𝗖𝗮𝗻 𝗺𝘆 𝘀𝘁𝘂𝗱𝗲𝗻𝘁 𝗹𝗼𝗮𝗻𝘀 𝗯𝗲 𝗱𝗶𝘀𝗰𝗵𝗮𝗿𝗴𝗲𝗱 𝗶𝗻 𝗯𝗮𝗻𝗸𝗿𝘂𝗽𝘁𝗰𝘆?

Not automatically. You usually have to prove that repaying them would create an “undue hardship” for you and your dependents.

Most courts look at three things to determine undue hardship:
1. You can’t maintain a minimal standard of living if forced to repay.
2. Your hardship is likely to continue.
3. You’ve made good faith efforts to repay.

For federal loans, your financial records may be reviewed before trial, and the Department of Justice may agree to the discharge if you meet the hardship standard.

If student debt is making it harder to stay current with the IRS or other obligations, let’s talk through your options.