As a business owner, you’re always looking for ways to optimize your tax situation. But have you considered hiring your children? Hiring your kids can not only help them learn valuable work skills but can also provide several potential tax benefits. Here’s how: Important Considerations: If you would like to learn more about hiring children […]
Family Business: How Hiring Your Children Can Boost Your Tax Savings Read More »
The One Big Beautiful Bill Act (OBBBA), which became public law on July 4th, 2025, will bring a lot of changes and/or updates to federal tax law for individuals and businesses. It is important to stay up-to-date with the latest provisions in order to better prepare yourself for the upcoming 2026 tax season. Some updates and
Starting October 1st, 2025, the Washington Department of Revenue (DOR) will begin requiring sales tax to be collected on the services mentioned below. It is important that if you offer any of these services, you must collect sales tax on your customers’ receipts or invoices, depending on the services covered by this new regulation. This
Reminder: Starting October 1st, Some Business Activities Must Begin to Collect Sales Tax Read More »
As a small business owner, maintaining meticulous records is essential to ensuring the financial health of your business, and one of the most critical elements of this practice is keeping your receipts. Why is it important to keep receipts? Best Practices for Managing Receipts: By implementing these simple yet effective habits, you can keep your
The Power of Receipts: Why Keeping Track of Every Expense Matters for Your Business Read More »
Join us for this comprehensive workshop designed to equip entrepreneurs and early-stage business owners with the tools they need to grow strategically—and stay tax-ready every step of the way. The workshop will be hosted in Spanish at the Beacon Hill Branch of the Seattle Public Library on Wednesday, September 10th from 5:30pm to 7:30pm. This
As an employer, offering educational assistance to your employees is not only a great way to support their professional development but also an opportunity to provide tax-advantaged benefits that benefit both your employees and your business. Under IRS guidelines, employers can offer an Educational Assistance Program (EAP), which allows employees to receive up to $5,250
Understanding the IRS Educational Assistance Program for Employees Read More »
On July 1st, 2025, Washington’s Department of Labor & Industries issued Notice #25‑19, which announces expanded protections under the state’s Equal Pay and Opportunities Act. The key changes include: These changes significantly widen coverage, applying “equal pay” standards to hundreds of thousands more workers in Washington, according to L&I director Joel Sacks. Why This Matters
Updates to Equal Pay for Washington State Workers Read More »
The One Big Beautiful Bill Act (OBBBA) is a proposed budget reconciliation bill in the 119th United States Congress. It was recently passed by the House of Representatives on May 22nd, 2025 and passed by the Senate on July 1st, 2025. The bill includes, but it is not limited to, the following: What It Means
The One Big Beautiful Bill Act: What Does It Mean for Taxpayers? Read More »
On June 12th, 2025, the IRS officially acknowledged processing delays that have caused some taxpayers to receive notices claiming a balance due—even when payments were made timely and electronically. Why It’s Happening: Who’s Affected IRS Guidance for Taxpayers Challenges Facing the IRS This issue highlights broader operational challenges: While the IRS works through its backlog,
IRS Acknowledges Processing Delays Leading to Balance-Due Notices Read More »
In today’s digital age, cybersecurity isn’t just a concern for large corporations—it’s a critical issue for small business owners too. In fact, small and medium-sized businesses (SMBs) are increasingly targeted by cybercriminals because they often lack the robust defenses of larger companies. Nearly half of cyberattacks are aimed at small businesses and whether it’s phishing
Cybersecurity for Small Business Owners: Why It Matters More Than Ever Read More »
