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Bellingham Tax
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There are so many things to consider when one is ready to move to a new neighborhood, but one item that should be at the forefront is how to move with taxes in mind. If you’re thinking about relocating, you’re not alone. Americans are on the move for a variety of reasons, but here are …
If you recently received a letter from the IRS – don’t panic. While the dream of finding an IRS refund check in the mailbox is over now that most tax refunds are deposited directly into taxpayers’ bank accounts, IRS correspondence by mail is still flourishing. Since the IRS does the majority of auditing through correspondence, …
Summer is the season when we receive the most questions regarding charity auctions and tax deductions. If you’re not already familiar with the practice, this is where charities to hold auction events. Attendees at these events bid on and purchase items on display. The items available to bid are usually donated to the charity holding …
Looking to defer taxes using installment sales? It’s a great option, as long as you know the right steps to take in the right order. Generally, selling property that one has owned for a long period of time frequently results in a large capital gain. Reporting all of the gain in one year generally means …
Considering offering employee stock options to your key employees to help grow your companies’ market value? Offering stock options give the employee the right to buy up to a specified number of shares of the company’s stock at a future date at a specific price. Generally, options are not immediately vested and must be held …
The new tax filing deadline is right around the corner. For those who have not yet filed their 2020 federal tax return, time is running out. The new deadline of May 17, 2021 means you must file your return and pay any taxes owed. Or you must file an extension and pay any estimated balance …
One thing many people do on the their taxes is overlook foreign account reporting requirements. However you DON’T want to forget this very important report. In fact, some of the largest penalties with the Government are associated with not reporting dealings with foreign financial institutions. U.S. citizens and residents with a financial interest in any …
“How can I start writing off business start up expenses”? It’s one of the most common questions new business owners ask their tax advisors, and with good reason. While many small firms have gone out of business since the pandemic started, the tide is finally changing. With the help of vaccines, new businesses will be …
2020 tax filing deadlines are right around the corner! A reminder for those who have not yet filed their federal tax return that now is the time! May 17, 2021 is the new due date to file your return and pay any taxes owed. Or you must file for the automatic extension and pay the …
