Mark Reynolds, CPA

Mark Reynolds, CPA

Senior Manager

email | 541.687.2320
Check me out on BrokerCheck Mark Reynolds is a Senior Manager and leader of our Retirement Plan Services. Mark works with small to medium size retirement plans, focusing on optimal plan design, to ensure Plan Sponsors are able to maximize benefits for both the Plan Sponsor and the participants. His team provides Third Party Administration (TPA) services and compliance for small and medium group retirement plans. He is also a leader in the Jones & Roth Large Group Employee Retirement Plan Audit Practice, where he helps oversee audit engagements for those plans in need of an annual audit, as required by the Department of Labor. Mark works with retirement plans throughout the Northwest. He joined Jones & Roth in January 2003 and is a member of the Assurance Services Management Team and Quality Control Committee.

Education

Mark Reynolds graduated from the University of Oregon with Bachelor of Science degrees in Accounting and Economics. Mark has passed the FINRA Series 7 and 66 exams, and holds his Oregon Insurance License.

Specialty Areas

Affiliations

  • The American Institute of CPAs
  • Oregon Society of CPAs
  • Eugene / Springfield Risk Management Association

Activities

Mark currently serves on the board of Eugene/Springfield Risk Management Association (RMA) board as well as the Treasurer of the Eugene Opera.

Securities offered through 1st Global Capital Corp., Member FINRA, SIPC. Investment Advisory services offered through 1st Global Advisors, Inc. Insurance services offered through 1st Global Insurance Services, Inc.  Jones & Roth has representatives licensed in Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Maine, Massachusetts, Montana, Nebraska, Nevada, North Carolina, Ohio, Oregon, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming. This is not an offer to sell securities in any other state or jurisdiction.

Recent News

Do You Need to File a 2016 Gift Tax Return by April 18?

Do You Need to File a 2016 Gift Tax Return by April 18?

Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate planning strategy. Or perhaps you just wanted to provide loved ones with some helpful financial support. Regardless of the reason for making a gift, it’s important to know under what circumstances you’re required to file a gift tax return.
Some transfers require a return even if you don’t owe tax. And sometimes it’s desirable to file a return even if it isn’t required.

When filing is required

Generally, you’ll need to file a gift tax return for 2016 if, during the tax year, you made gifts:
• That exceeded the $14,000-per-recipient gift tax annual exclusion (other than to your U.S. citizen spouse),
• That exceeded the $148,000 annual exclusion for gifts to a non-citizen spouse,
• That you wish to split with your spouse to take advantage of your combined $28,000 annual exclusions,
• To a Section 529 college savings plan for your child, grandchild or other loved one and wish to accelerate up to five years’ worth of annual exclusions ($70,000) into 2016,
• Of future interests — such as remainder interests in a trust — regardless of the amount, or
• Of jointly held or community property.

When filing isn’t required

No return is required if your gifts for the year consist solely of annual exclusion gifts, present interest gifts to a U.S. citizen spouse, qualifying educational or medical expenses paid directly to a school or health care provider, and political or charitable contributions.

If you transferred hard-to-value property, such as artwork or interests in a family-owned business, consider filing a gift tax return even if you’re not required to. Adequate disclosure of the transfer in a return triggers the statute of limitations, generally preventing the IRS from challenging your valuation more than three years after you file.

Meeting the deadline

The gift tax return deadline is the same as the income tax filing deadline. For 2016 returns, it’s April 18, 2017 (or October 16 if you file for an extension). If you owe gift tax, the payment deadline is also April 18, regardless of whether you file for an extension.

Have questions about gift tax and the filing requirements? Contact us to learn more.

© 2017

What You Need to Know About The Tax Treatment of ISOs

What You Need to Know About The Tax Treatment of ISOs

Incentive stock options allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the grant date. If the stock appreciates, you can buy shares at a price below what they’re then trading for. However, complex tax rules apply to this type of compensation.

 

Current tax treatment

ISOs must comply with many rules but receive tax-favored treatment:

• You owe no tax when ISOs are granted.
• You owe no regular income tax when you exercise ISOs, but there could be alternative minimum tax (AMT) consequences.
• If you sell the stock after holding the shares at least one year from the exercise date and two years from the grant date, you pay tax on the sale at your long-term capital gains rate. You also may owe the 3.8% net investment income tax (NIIT).
• If you sell the stock before long-term capital gains treatment applies, a “disqualifying disposition” occurs and any gain is taxed as compensation at ordinary-income rates.

So if you were granted ISOs in 2016, there likely isn’t any impact on your 2016 income tax return. But if in 2016 you exercised ISOs or you sold stock you’d acquired via exercising ISOs, then it could affect your 2016 tax liability. And it’s important to properly report the exercise or sale on your return to avoid potential interest and penalties for underpayment of tax.

Future exercises and stock sales

If you receive ISOs in 2017 or already hold ISOs that you haven’t yet exercised, plan carefully when to exercise them. Waiting to exercise ISOs until just before the expiration date (when the stock value may be the highest, assuming the stock is appreciating) may make sense. But exercising ISOs earlier can be advantageous in some situations.

Once you’ve exercised ISOs, the question is whether to immediately sell the shares received or to hold on to them long enough to garner long-term capital gains treatment. The latter strategy often is beneficial from a tax perspective, but there’s also market risk to consider. For example, it may be better to sell the stock in a disqualifying disposition and pay the higher ordinary-income rate if it would avoid AMT on potentially disappearing appreciation.

The timing of the sale of stock acquired via an exercise could also positively or negatively affect your liability for higher ordinary-income tax rates, the top long-term capital gains rate and the NIIT.

Planning ahead

Keep in mind that the NIIT is part of the Affordable Care Act (ACA), and lawmakers in Washington are starting to take steps to repeal or replace the ACA. So the NIIT may not be a factor in the future. In addition, tax law changes are expected later this year that might include elimination of the AMT and could reduce ordinary and long-term capital gains rates for some taxpayers. When changes might go into effect and exactly what they’ll be is still uncertain.

If you’ve received ISOs, contact us. We can help you ensure you’re reporting everything properly on your 2016 return and evaluate the risks and crunch the numbers to determine the best strategy for you going forward.

© 2017

The New I-9 Form: What You Need to Know

The New I-9 Form: What You Need to Know

This post has been contributed by our strategic partner Cascade Employers Association. Cascade is an exceptional, membership-based resource for Northwest employers committed to developing a strong, vital workforce. They offer a complete range of services — from hiring well, to training for excellence, to dismissing effectively.

As of January 22, 2017, employers were required to start using a new I-9 form.

While the new form has some great new features (it can function as a smart form), it looks and functions a bit differently than what you may be used to.  To help ease any confusion, you’re invited to watch this tutorial on completing the new form.  The tutorial takes you step by step through each section and answers the most common questions you may have about the new form.

Questions?

Get in touch with us.

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