New Payroll Tax in Washington State (earn over $300,000 a year?)
Do you work at Amazon, Microsoft, Facebook, F5 Networks, or any of the other large tech employers in Washington State? Do you earn over $300,000 a year? If so, read this! Washington State passed a new tax on employees to fund the first public-operated, long-term care (LTC) insurance program. Effective January 1, 2022, Washingtonians who…
Read MoreWhat Types of Deductions Qualify for Itemized Bunching?
Bunching can work with any expense that you can itemize, but you need to be able to control when you incur these expenses. That typically leads people to bunch expenses in three key areas: Property taxes. If your municipality allows it, wait until January to pay the previous year’s property tax bill. Then, pay the current year in December. Because you…
Read MoreMaximizing Tax Benefits by “Bunching” Charitable Contributions
The Tax Cuts and Jobs Act (TCJA) became law in December 2017. Most of the law’s changes were implemented in 2018 and are scheduled to sunset after 2025. Under the TCJA, the standard deduction nearly doubled in size. Now, for 2022 taxes, single filers may claim a $12,950 standard deduction, while married couples filing jointly…
Read MoreClaiming Child When Divorced (Tax Planning)
Who gets to claim dependents when you’re divorced? Claiming a dependent child can provide or increase certain breaks, including child or dependent tax credits, the Earned Income Credit, and a more favorable filing status. However, being divorced or legally separated can make it difficult to determine who can claim dependents. What is the difference between custodial and noncustodial…
Read MoreAkopyan job listing — Staff Accountant
Full Job Description Full-Time Staff Accountant for Established CPA Firm—Seattle area or remote Please note specific instructions for submission at the end of this post. Akopyan & Co. is a thriving CPA firm that supports businesses throughout the Puget Sound region with accounting, bookkeeping, strategy, and other services to help them achieve their goals. Because…
Read MoreAkopyan job listing — Payroll Specialist
Full Job Description Full-Time Payroll Specialist for Established CPA Firm—Seattle area or remote Please note specific instructions for submission at the end of this post. Akopyan & Co. is a thriving CPA firm that supports businesses throughout the Puget Sound region with accounting, bookkeeping, strategy, and other services to help them achieve their goals. Because…
Read MoreAkopyan job listing — Tax Preparer
Full Job Description Full-Time Tax Preparer for Established CPA Firm—Seattle area or remote Please note specific instructions for submission at the end of this post. Akopyan & Co. is a thriving CPA firm that supports businesses throughout the Puget Sound region with accounting, bookkeeping, strategy, and other services to help them achieve their goals. Because…
Read MoreAkopyan job listing — Accounting & Tax Manager
Full Job Description Full-Time Accounting & Tax Manager for Established CPA Firm—Seattle or remote Please note specific instructions for submission at the end of this post. Akopyan & Co. is a thriving CPA firm that supports businesses throughout the Puget Sound region with accounting, bookkeeping, strategy, and other services to help them achieve their goals.…
Read MoreWhat Happens If You Can’t Pay Your Taxes?
What happens if you complete your tax return and find that you can’t pay the amount you owe? This isn’t supposed to happen. You’re supposed to pay income taxes gradually throughout the year so that in April you won’t owe much or will even be entitled to a refund of overpaid taxes. Employees have income…
Read MoreExpanded Credits for Families Highlight Tax Changes for 2021
Many People Who Don’t Normally File Should File This Year Expanded tax credits for families, a deduction for non-itemizers who give to charity and a higher limit for itemizers who give to charity are among the American Rescue Plan changes that taxpayers will see on their 2021 federal income tax return. This is a year…
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