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Bellingham Tax
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This month, we’ll discuss paying your bills in QuickBooks. Click Pay Bills on the home page or open the Vendors menu and select Pay Bills. The screen that opens displays bills that you’ve entered that need to be paid. You can choose to list those due on or before a date you specify or all bills. By default, all vendors …
Congress put a halt on the Required Minimum Distribution (RMD) for the traditional IRA in 2020 in response to the pandemic. However, the RMD will be resumed in 2021 and subsequent years. Please give us a call at 360-778-2901 if you have questions about your Required Minimum Distribution. Or if you’d like to learn more …
Add unemployment fraud to the list of pandemic perils in 2020. As if this past year has not been stressful enough, it was just announced that at least at least $36 billion has been lost to improper unemployment payments being made. In many cases the improper payments are a result of fraudsters who spent the earliest months …
A joint venture is when multiple business entities start a new business together as a cooperative arrangement. When creating a joint venture, each of the involved entities agrees to what assets they will contribute, how they are going to distribute income and share expenses, and how the new entity will move forward. Owners need to …
Claiming tax deductions without itemizing on your tax return? It’s now a reality. Most taxpayers think they have to itemize their deductions to claim them on their tax return. However, that is not entirely true. You can claim certain deductions while still using the standard deduction. Here is a list of tax deductions you can …
The solar tax credit extension is great news for homeowners looking to use green power. Now, the federal tax credit for the purchase and installation costs of a residential solar system has been extended through 2023. The credit for 2021 and 2022 is 26% of the cost of the solar installation. This credit drops to …
Employers are seeing some much needed relief now that the the Employee Retention Credit has been extended. The Coronavirus Aid, Relief, and Economic Security (CARES) Act created the Employee Retention Credit for 2020 to help businesses. The credit helps employers retain their workers by keeping them employed during the COVID-19 crisis. As part of the …
What is the interaction between PPP loans and the employee retention credit? Let us share what we know. The Consolidated Appropriations Act of 2021 (also known as the CCA) was passed by Congress late last December. Within this bill included a very tax-beneficial provision. This provision liberalized the interaction between PPP loans and the Employee …
Being a Day Trader is neither illegal nor unethical, but it can be highly risky. Most individual investors do not have the wealth, time, or temperament to make money. Nor can many investors sustain the losses that day trading can bring. Day trading in securities is governed by the Securities and Exchange Commission (SEC) Regulation …
