Posts by Alegria Network Administrator
Washington State Department of Revenue Audit of Excise Taxes
Retail sales tax is the State of Washington’s principal source of income. Businesses making retail sales in Washington are required to collect and remit sales tax on sales of goods and services to the state. The seller is responsible for remitting the tax whether or not collected.
Read MoreIRS Letters and Replies
You just received a letter from the Internal Revenue Service (IRS) and your first thoughts, after panic subsides (or not), might be: I have never been audited before; how can I get this over with as fast as possible; why me; how much more am I going to have to pay; what did I do…
Read MoreFinancial Fraud, Scams & Deceptive Fund Raising
Experts in financial fraud have identified the profile of a financial fraud victim: Male, age 55-62, married, an accredited investor (meaning they have wealth over $1 million excluding residence and mortgage and/or annual income over $200,000 individually or $300,000 including spouse in each of the last two years), have an above average understanding of financial…
Read MoreLiving Trusts and Powers of Attorney
In my previous article I addressed the importance of having a will and estate planning. As part of the estate planning process, a Power of Attorney will likely by discussed and possibly the use of a Living Trust. It is important to understand each of these instruments.
Read MoreImportance of Having a Will
If you don’t have a will, take the necessary steps to get one at your earliest opportunity. Even if you’re young or your estate is modest, you should always have a legally valid and up-to-date will. Start the process immediately by obtaining the names of qualified and experienced accountants and estate planning attorneys, checking their…
Read MorePlan Income, Deductions & Tax – Personal
Just as a good business owner plans the business operations and taxes for the year ahead, you should plan your personal income taxes as well. By planning ahead, you will have the opportunity to better manage your tax situation, consider strategies to minimize your total tax bill in the long run, and be prepared for…
Read MoreIt is not too late to plan for 2014
So you have a business plan for 2014? A business plan is an essential tool for managing your business. Ideally, a business plan should be prepared and in place at the beginning of the business year, but implementing it mid-year has benefits, as well. The business plan may be comprehensive or only a financial plan…
Read MoreIncome Tax Reduction and Deferral-Part 2
Here are some more common opportunities to reduce or defer income taxes – aside from utilizing retirement plans.
Read MoreIncome Tax Reduction and Deferral-Part 1
Are you taking advantage of the many opportunities to defer or reduce your income taxes? There are multiple options to do so besides contributing to retirement plans.
Read MoreIRS Errors that Cost You Money
College tuition payments, interest income from U.S. savings bonds and health care expenditures from qualifying plans can all cause income tax reporting errors that cost you money.
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