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Van Beek & Co., LLC

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Tigard, OR
Van Beek & Co., LLC

Van Beek & Co. is a full-service accounting firm dedicated to providing our clients with exceptional professional service.

is a full-service accounting firm dedicated to providing our clients with professional services and guidance for a wide range of business and tax needs since 1974. We are one of the leading accounting firms in Portland, Oregon because we put our clients first. We have developed a reputation for quality work and treating our clients and our staff with respect and professionalism. Our primary focus

is to facilitate solutions to the problems our clients face. To do that, we challenge ourselves to think outside the box in every aspect of what we do.

08/25/2025

If you own an unincorporated small business, are you fed up with high federal self-employment (SE) taxes? The maximum 15.3% SE tax includes Social Security tax (up to an annual ceiling of $176,100 in 2025) and Medicare tax. To lower SE taxes, consider converting your business into an S corp and then paying yourself (and any other shareholder-employees) a modest salary. Distribute most or all of the remaining corporate cash flow to the shareholder-employee(s) as federal-employment-tax-free distributions. However, this strategy isn’t right for every business. The salary must be reasonable or the IRS could impose back taxes, interest and penalties. Consult with us before making a switch. https://bit.ly/45w8tmJ

08/22/2025

If you make estimated tax payments, the amount you owe may be affected by the law enacted on July 4. It introduces tax breaks that could shift your income tax liability. Estimated tax payments ensure that certain people pay taxes throughout the year. You may have to make them if you receive interest, dividends, self-employment income, capital gains or other income. If you don’t pay enough through withholding and estimated payments during the year, you may be liable for a penalty. Individuals generally must pay 25% of their required annual tax four times a year with Form 1040-ES (an exception may be available if your income isn’t uniform over the year). The next payment is due Sept. 15. https://bit.ly/3JqxmYb

07/29/2025

The alternative minimum tax (AMT) is a separate federal income tax system that bears some resemblance to the regular income tax system. The difference? The individual AMT system taxes certain types of income that are tax-free under the regular system. It also disallows some deductions that are allowed under the regular system. If the AMT exceeds your regular tax bill, you owe the larger AMT amount. Don’t assume you’re exempt from AMT. The One, Big, Beautiful Bill Act increases the odds for taxpayers in certain situations, starting in 2026. For example, some risk factors involve having a high income and exercising incentive stock options. Questions about whether you’re liable? Contact us. https://bit.ly/4o8oF4R

07/28/2025

The One Big Beautiful Bill Act makes changes that will help business taxpayers. For example, there are now better rules for depreciating business assets. In addition to restoring 100% bonus depreciation, the new law makes favorable changes to Sec. 179 deductions. For eligible assets placed in service in 2025, the new law increases the maximum that can immediately be written off via first-year depreciation to $2.5 million (up from $1.25 million for 2025 before the law). A phase-out rule reduces the maximum Sec. 179 deduction if, during the year, you place in service eligible assets in excess of $4 million. (up from $3.13 million for 2025 before the law). Questions? Contact us.

07/25/2025

The One, Big, Beautiful Bill Act (OBBBA) has introduced tax changes that could affect families. For example, parents who adopt may be eligible for more generous tax relief. Under current law, a tax credit of up to $17,280 is available for eligible costs of adoption in 2025. The credit begins to phase out in 2025 for taxpayers with modified adjusted gross income of $259,190. Beginning in 2025, the OBBBA makes the adoption tax credit partially refundable up to $5,000. This means that eligible families can receive this portion as a refund even if they owe no federal income tax. Previously, the credit was nonrefundable. Contact us if you have questions about how the new law affects your family. https://bit.ly/4kLpAoJ

07/24/2025

The One, Big, Beautiful Bill Act was enacted on July 4. The new law includes favorable changes for business taxpayers. For example, it permanently restores the 100% first-year depreciation deduction for eligible assets acquired after Jan. 19, 2025. This is up from the previous 40% bonus depreciation rate. The law also allows taxpayers to immediately deduct eligible domestic research and experimental expenses paid or incurred beginning in 2025. Before the law was enacted, those expenses had to be amortized over five years. Eligible small businesses can generally apply the new immediate deduction rule retroactively to 2022. Contact us to learn more about how the law applies in your situation. https://bit.ly/4msIZwf

07/22/2025

President Trump signed the One, Big, Beautiful Bill Act (OBBBA) into law on July 4. Here are some of the favorable changes that may affect you and your family. Starting in 2025, the child tax credit rises to $2,200 per qualifying child under 17 (up from $2,000). The deduction limit for state and local taxes (SALT) for 2025 is increased to $40,000. For 2026, the deduction limit rises to $40,400 and increases by one percent over the previous year’s amount in 2027–2029. The SALT deduction limit will return to $10,000 in 2030. The deduction is reduced (but not below $10,000) for higher-income taxpayers. These are just a couple provisions in the massive new law. Contact us if you have questions about your situation. https://bit.ly/454V6s5

07/09/2025

They say age is just a number. But it’s much more than that in tax law. That’s because different tax rules kick in at specific ages. For example, the kiddie tax can potentially apply to an individual until age 24. After age 59½, you can receive distributions from tax-favored retirement accounts without being socked with the 10% early distribution penalty tax. And after reaching 73, you generally must begin taking annual required minimum distributions (RMDs) from tax-favored retirement accounts (traditional IRAs, SEPs, 401(k)s and SIMPLEs) and pay the resulting income tax. If you don’t withdraw at least the RMD amount for the year, you can be assessed a penalty tax. Contact us with questions. https://bit.ly/4eBso6y

07/03/2025

The U.S. Census Bureau reports there were nearly 447,000 new business applications in May of 2025. If you’re one of the entrepreneurs, you may not know that many expenses incurred by start-ups can’t currently be deducted on your tax return. Some likely must be amortized over time. You may be able to deduct up to $5,000 currently, but the deduction is reduced by the amount your total start-up costs exceed $50,000. You can also deduct up to $5,000 of the organizational costs of creating a corporation or partnership. Other rules and requirements apply. Contact us if you have tax questions about a start-up business.

06/27/2025

If your college student is fortunate enough to receive some financial aid, what are the tax implications? It depends. Gift aid, which is money that a student doesn’t have to work for, is often tax-free. There are certain requirements, such as the recipient must be a degree candidate. Gift aid may be called a scholarship, fellowship, grant, tuition discount or tuition reduction. In arrangements that require a student to work in exchange for money, payments are considered compensation from employment and must be reported as income on the student’s federal tax return. However, that doesn’t necessarily mean he or she will owe taxes. Contact us with questions about what’s taxable and what’s not. https://bit.ly/4k7EXHK

06/21/2025

If you’re 65 or older and enrolled in basic Medicare, you may need to pay additional premiums to obtain the level of coverage you desire. These premiums can be significant, particularly for married couples where both spouses are paying them. The good news? You might be eligible for a tax break on those premiums. However, claiming medical expenses on your tax return can be challenging. For the 2025 tax year, medical expenses are deductible only if you itemize — and only the portion that exceeds 7.5% of your adjusted gross income qualifies. We can help you assess whether it’s more beneficial to take the standard deduction or to itemize and include medical expenses on your return. https://bit.ly/4nb0xOe

06/20/2025

The treatment of research and experimental (R&E) expenses is a high-stakes topic for businesses, especially small to midsize companies focused on innovation. Currently, R&E expenses must be capitalized and amortized over five years for domestic activities and 15 years for foreign activities. The One, Big, Beautiful Bill, which is now being considered by the Senate, would restore the immediate deductibility of R&E expenses. Specifically, it would allow taxpayers to immediately deduct domestic R&E expenses paid or incurred in tax years beginning after Dec. 31, 2024, and before Jan. 1, 2030. Contact us if you have questions about how these potential changes could affect your business. https://bit.ly/3SZpA9j

Address

16045 SW Upper Boones Ferry Road
Tigard, OR
97224

Opening Hours

Monday	8am - 5pm
Tuesday	8am - 5pm
Wednesday	8am - 5pm
Thursday	8am - 5pm
Friday	8am - 5pm

Telephone

+15036394700

Website

http://www.vanbeekco.com/

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