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

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.)…
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