The Internal Revenue Service issued guidance on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs ActRead More
An employee at Oregon's tax collection agency copied the data of 36,000 people, including social security numbers, and stored the files to a personal account.Read More
On March 19, 2018, the Washington State Dept. of Revenue will launch My DOR as the secure portal for all online services. Businesses will be able to access all their tax and business licensing accounts using their SecureAccess Washington (SAW) login.Read More
Here is a brief summary of the provisions of the tax bill that is being debated in congress this week that affect individual taxpayers. We will post the business related provisions separately. We have tried to mention the most common items:
The Washington Department of Revenue is warning businesses to be aware of a new telephone scam. The scammers fraudulently claim to be from Revenue and request over-the-phone payment to renew expired business licenses. Revenue will never ask for or take payment for license renewals over the phone.Read More
The City of Vancouver requires businesses to pay a license fee plus an additional amount per employee. Beginning in 2019 there will be an additional charge based on the square footage of indoor space used by the business. Read more details in the Vancouver Business Journal. See the City of Vancouver web site for rules and a link to the application.
The Washington State Department of Revenue is warning about a scam related to business license renewals. Here is the information from the DOR:
A number of Washington state businesses have been targeted by an email phishing scam that appears to be from the Department of Revenue. These emails remind the businesses that endorsements must be renewed and encourages them to do so by following a provided link.
These emails are NOT from the Department of Revenue. Any official message regarding a business’ license endorsement renewal will be from email@example.com and only alert the business that they have a new message in their My DOR inbox.
What to do if you receive a suspicious email:
- Do not click any links, reply, or provide any information.
- Check the expiration date on your business license document.
- If your business license renewal is coming due, go directly to http://secure.dor.wa.gov and log in to your account.
If you have any questions or are unsure if a correspondence is genuine, please call us at 1-800-451-7985.
All taxpayers should file on time, even if you can’t pay what you owe.... Here are four tips if you can’t pay your taxes in full by the April 18 due dateRead More
All businesses should adopt a written policy regarding the threshold for capitalizing fixed assets. Follow the link for an explanation and sample policy.Read More
You are required to issue 1099s for payments you made in the course of your trade or business. Penalties have recently increased. This article describes the requirements.Read More
Congress has passed, and the President has signed, a bill that extends many tax provisions that expired on December 31, 2014. The extensions are retroactive to January 1, 2015. Some of the provisions are made permanent; others are extended until December 31, 2016. Follow the link to see the extended provisions that most commonly affect our clients.Read More
Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 54 cents per mile for business miles driven, down from 57.5 cents for 2015
- 19 cents per mile driven for medical or moving purposes, down from 23 cents for 2015
- 14 cents per mile driven in service of charitable organizations
Did you donate your services to charity this summer? Did you travel as part of your service? If so, some travel expenses may help lower your taxesRead More
Employers and health coverage providers now have access to recorded webinars from IRS about the Affordable Care Act’s employer provisions and related tax requirements.Read More
There are generous federal income-tax credits available to individuals and businesses that can help defray some of the cost of buying and installing certain energy efficient systemsRead More
Beginning with tax years starting on or after January 1, 2014, the IRS has issued a very complex set of Regulations that will require most businesses to keep much better records for repairs, maintenance and supplies expenditures.Read More
We have heard from a number of clients who have been target of various scams related to the IRS and supposed tax liabilities. If you get a phone call from someone claiming to be from the IRS and asking for money, here’s what you should do:Read More
Beginning in 2015, you can make only one rollover from an IRA to another (or the same) IRA in any 12-month period, regardless of the number of IRAs you own. Read the full article for details and transactions that are not affected by this rule.Read More