Blog Posts Discussing WA State Taxes

14

Jan

Small Business, Taxes, WA Taxes

When Are Tax Returns Due?

It gets late early out there.~ Yogi Berra Taxpayer beware. Because taxes can be so difficult, people often put them off until later. They can end up late before you know it, especially since different returns have different due dates. Staying aware of due dates can prevent tax time from sneaking up and surprising you, exposing you to penalties and added headaches! https://youtu.be/mBUOplZALdU Personal Tax Returns Personal tax returns are due Thursday, April 15th. This probably comes as no surprise. Just know that the IRS is generally very firm about due dates, and they may not hesitate to charge you…

What Types of Taxes Must I File as a Washington-Based Therapist?

Tax law treats business owners very differently from employees. In the great state of Washington, many employees only have to worry about federal taxes because there’s no personal state income tax. Sure, there’s sales tax, but there’s no requirement to keep track of sales tax that you pay personally — you can just use the IRS sales tax estimator*. *(It’s still a good idea to keep receipts for major purchases such as a car, house, or boat because you may be able to add that sales tax on top of the estimated amount on your 1040 for a larger deduction.)…

Breaking News: Changes to the WA State Workforce Education Surcharge

Do you remember last November, when the Washington State Department of Revenue sent out a notice to service companies mentioning a B&O (AKA excise) tax surcharge? We do. There has been a recent amendment to this law. If your service organization makes less than $1 million in gross taxable income, we have good news for you: Your surcharge was repealed retroactively, so it never actually went active! Instead of owing an additional B&O surcharge, you will continue to pay the same rates you did last year (barring further legislation). If your organization made $1 million or more in gross taxable…