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Happy Tax Day everyone! Note that the office will be closed on April 16th for a much needed break. We'll reopen with minimal staffing on Friday, back to full business Monday.
Thank you to all of our employees and their families!
One month until the business deadline and we are hard at work! We appreciate our clients!
🌟 Giving Back to Our Community 🌟
At Want CPA, we believe that being part of a community means more than just providing expert accounting and tax services—it means getting involved and supporting the causes that make our communities stronger.
Our team proudly serves on the boards of several incredible local organizations:
🏊 Chehalem Swim Team
🎠Sherwood Theater & Arts Resource Society
🎶 Cantico Singers
🤝 Newberg Kiwanis
🌳 Dundee Pioneer Cemetery
âš˝ Sherwood Youth Soccer
🏀 Sherwood Basketball Organization
We’re grateful for the opportunity to contribute our time and expertise to these organizations, each making a meaningful impact in the community.
Supporting our community is part of who we are—both in business and beyond.
đź’Ľ New Tax Deduction Alert: OBBA Overtime Rules for 2025
Starting in 2025, taxpayers may qualify for a deduction reducing taxable income for overtime compensation up to:
• $12,500 for single filers
• $25,000 for joint filers
✅ Qualified overtime: Only the amount paid as required by the Fair Labor Standards Act that exceeds your regular rate—the “half” of your time-and-a-half pay.
❌ Not included: Overtime paid under company policy or state laws beyond federal requirements.
đź“ť Reporting:
• For 2025, keep your last pay stub of the year to calculate your deduction.
• Starting 2026, qualified overtime will be reported separately on Form W-2.
This is a great opportunity to reduce taxable income if you regularly earn overtime under federal law.
Teachers, coaches, and school staff—there’s an improved tax break for you. 🍎✏️
Under the new OBBBA legislation, beginning in 2026, the rules around the Educator Expense Deduction are expanding:
đź“Ś The $300 above-the-line deduction for eligible educators is still available.
đź“Ś Now, expenses above $300 may also qualify as itemized deductions.
đź“Ś Sports administrators and coaches who meet the 900 hour rule are now included as eligible educators.
đź“Ś The definition of qualified expenses has expanded, allowing for some expenses used outside of the classroom.
Bottom line: If you’re an educator, coach, or sports administrator, these changes could allow you to deduct more of the money you spend on your students and programs.
👉 Make sure to keep receipts and track your educator expenses.
09/25/2025
Make sure to get us your correct routing and account number!
Paper checks are over 16 times more likely to be lost, stolen, altered, or delayed than electronic payments. By Transitioning into electronic tax refunds, the is helping taxpayers stay safe. See: https://ow.ly/KHvu50X1sAr
Big news for tipped workers starting in 2025! 💵🍽️
A new Tips Deduction will allow qualified workers to reduce their taxable income by up to $25,000 in tips. Here’s how it works:
đź“Ś Qualified tips = cash tips received in an occupation that customarily and regularly received tips before 2024.
đź“Ś Includes cash tips from customers (paid in cash or charged) and tips shared through a tip pool.
📌 Must be voluntary and determined by the customer—service charges don’t qualify.
đź“Ś Qualified tips must be reported on a 1099-NEC, 1099-K, or W-2 to be eligible.
đź“Ś Employees can also report tips using Form 4137 on their tax return.
👉 Why this matters: This deduction is designed to support tipped workers without letting businesses restructure pay just to maximize tips.
Bottom line: If you work in a tipped occupation, this could mean significant tax savings starting with your 2025 return.
Thinking of buying a new car in 2025? đźš—đź’¸
There’s a brand-new Car Loan Interest Deduction that could help lower your taxes. Here’s what you need to know:
âś… You can deduct up to $10,000 of interest on qualifying new car loans.
âś… If you pay over $600 in interest, it will be reported to you on an information return by the lender.
âś… The vehicle must be purchased after December 31, 2024, for personal use.
✅ It must be a new vehicle—original use begins with you.
âś… Qualifying vehicles include cars, minivans, vans, SUVs, pickups, or motorcycles with a GVW under 14,000 pounds.
âś… The vehicle must have final assembly in the United States.
❌ No salvage titles, scrap/parts-only vehicles, lease financing, or loans from related parties.
Bottom line: If you’re planning to finance a new vehicle in 2025, this deduction could help offset your interest costs and reduce your taxable income.
09/12/2025
Has anyone used Oregon Department of Revenue's Taxpayer Advocate? What was your experience?
’s Taxpayer Advocate provides expeditious service to taxpayers whose tax-related problems are not resolved through ordinary channels, including contact with customer service, legislators, or the Director’s Office. Find more information on our website.
09/10/2025
Using trusted sources is important!
The has assessed more than $162 million in penalties over false tax credit claims linked to fraudulent tax advice promoted on social media.
Read the agency’s alert: https://ow.ly/kbSS50WTrjw
Turning 65? There’s a new tax break just for you. 🎉
Starting with the 2025 tax year, a new Senior Deduction could help lower your taxable income:
• Up to $6,000 if you’re 65 or older (or turning 65 during the year).
• Up to $12,000 if both spouses qualify on a joint return.
This deduction directly reduces your taxable income, which may lower the tax you owe.
Bottom line: If you or your spouse are celebrating 65 (or beyond), you may see a nice tax break on your next return.
Let’s talk SALT— not the kind that makes caramel better, but the kind that affects your taxes.
SALT (state and local taxes) includes things like state withholding, estimated payments, real estate taxes, and even sales tax. Since 2018, the deduction has been capped at $10,000.
New legislation (the OBBBA) raises that cap to $40,000, with income phaseouts starting at $500,000.
Bottom line: If you pay state taxes and own a home, this change could mean a bigger deduction on your 2025 return—and potentially a lower tax bill.
👉 Wondering if this applies to you? Let’s chat!
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