Paying 2022 Tax Estimates

Paying 2022 Tax Estimates

As a business owner or high-income individual, the IRS puts the burden of scheduling and paying estimated taxes on you. They have no duty to remind you, and can and will penalize you if your payment is late or you are unable to pay your amount owed in full. Since you have no choice in the matter of paying estimated taxes, the best thing you can do is to be organized and minimize your penalties. We recommend calendars and reminders to ensure that you don’t miss any deadlines, or even better, you can have an accounting firm file your estimated…
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Your Guide to Washington’s Long Term Care Trust Act

Your Guide to Washington’s Long Term Care Trust Act

On April 21st, Governor Jay Inslee signed the Long-Term Services and Supports (LTSS) Trust Act. The purpose of the LTSS is to fund long-term care for Washingtonians who are unable to perform at least three Activities of Daily Living (ADL), such as getting dressed, using the toilet, or remembering to take medication. You can visit the WA Cares Fund website for more details straight from the state government, or continue reading for our TL;DR version! Washington's Long Term Care Trust Act:How the Benefit Is Funded This Washington-specific Long-Term Care (LTC) program is funded by a tax on Washington State employees.…
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When Are Tax Returns Due?

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…
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