Taxing Tips for Restaurant Employees

Seattle possesses a wealth of delicious dining establishments with wait staff that really ensure customer satisfaction. As patrons, we reward this job well done with tips. Tips require special treatment when reporting for tax purposes. Both the employee and the employer of a tipping establishment have their own responsibilities for the accurate reporting of tips. This post covers employee responsibilities. Tips Read More

Musicians and the IRS

 Musicians and the Man Seattle is one of the nation’s cornerstones for music, and with good reason. It’s the birthplace of wildly popular acts, such as Soundgarden, Alice in Chains, Ann and Nancy Wilson of Heart, Pearl Jam, Macklemore and countless other musicians. It is home to legendary guitarists Jimi Hendrix and Kurt Cobain. The Emerald City also hosts a large pool of rising stars, like Malady of the Sevendials, Read More

What to Do When the IRS Terminates Your Installment Agreement

Oh, no! You’ve gone and missed a payment and now the IRS has sent you Notice CP523, Installment Agreement Default Notice—Notice of Intent to Levy. What can you do? Not to worry. If your letter from the IRS is dated less than 30 days ago, you have time to call the toll-free number printed on the top of your letter and see what can be done to resolve the issue. Though you do have 30 days from the date of the notice, Read More

The IRS Installment Agreement

Among the many ways taxpayers may resolve a tax debt with the IRS, the Installment Agreement is a popular choice.  Installment Agreements allow a taxpayer to make monthly payments towards a tax debt and often also reduce the amount of penalties and interest that must be paid. The IRS does set forth conditions that must be met to qualify for an agreement: All income tax returns must be filed, All employment Read More

A Brief Look at Washington State Business Taxes

Tax Costs of Doing Business in Washington State Today, I'd like to discuss four main taxes with which business owners in Washington State must contend. B & O Tax While Washington doesn’t have an income tax, businesses are subjected to a Business and Occupation (or B & O) tax.  This tax is a gross receipts tax measured on either the value of products, the gross proceeds of sale, or a business’s gross Read More

IRS Tax Refunds

Show me the refund! Tax time is here, but this year you’re prepared.  You’ve filled out the forms and filed your returns in a timely manner, pondering future purchases while eagerly awaiting your refund check. But you’ve grown bored with waiting and want to know when you will be getting your tax refund. No worries, we have answers to some of the most commonly asked questions regarding IRS refunds. How can I Read More