Could Sales Tax Rules be Changing for Online Businesses?

The Supreme Court ruled in the case of South Dakota v. Wayfair?that states can force online retailers to collect sales tax even if they have no physical presence in that state. This overturns the previous rule that an online retailer only has to collect sales tax for states where it has a physical presence. Here’s what you need to know …

Everything You Need to Know About Deducting Your Ride

Whether you run a small business or own a large company, your ride could be your biggest opportunity when it comes to the taxes you pay. Every time you meet with clients, deliver an order or go to ship a package, you take on certain costs that could be tax-deductible. Here’s what you need to know. Understanding Vehicle Deductions When …

Paycheck Checkup – 2018 Tax Calculator

Late last year a tax overhaul was signed into law. This law gives a new direction to the IRS as to how individuals and businesses should be taxed and at what rates. This has left people wondering about their tax liabilities for 2018. One of the biggest changes brought about by the 2018 tax reform is the removal of personal …

Cryptocurrency and the IRS: What you need to know

Cryptocurrency. It has become a hot topic these days and continues to grow in popularity. But what does it mean for your tax return? Whether you?ve used cryptocurrency as an investment or as a currency, you owe taxes on it. Your Bitcoin holdings are not taxable (yet), but once you sell them or use them to buy something, you have …

How 2018 Tax Reform Could Affect the Housing Market

Many homeowners, buyers, and sellers are left wondering how the tax reform legislation will affect them.? While Seattle home values have gone up 16.2% over the past year, the White House Council of Economic Advisors released an analysis indicating that home prices would decline 2% immediately and 4% over the long run due to the changes in tax law related …

What does Marketplace Fairness legislation mean for your WA business?

While there is a new and exciting tax reform happening at a federal level, there are also some exciting things happening in the state of Washington. Beginning January 1, 2018, marketplace facilitators with a physical presence in Washington or $10,000 or more in retail sales sourced to Washington, including sales of their own products and sales of products made on …

How to Do a Mid-Year Financial Checkup

Each year, like clockwork, we are provided with little calendar reminders of the changing times. As summer starts, schools let out, business might slow down a little and everyone is thinking about taking time off to rest and relax. As an owner of a small- to medium-sized business, you know how important it is to get all your ducks in …

Employee vs Contractor: What You Need to Know

When you own a business, there are a lot of big questions to answer. One of the biggest is do I hire a contractor or an employee? What is a contractor? A contractor is a person that you hire to provide services, but that you have very little control over. By very little control we mean that you don’t set …