Sue Price-Scott

In our last article, we identified situations when you are required to file a gift tax return. However, reasons exist for when filing a gift-tax return even though it’s not required is a good idea.  Doing so could save your family a great deal of bother and money in the future.

As you get ready to file taxes for the current year, one question you may end up being asked is if you made or received any gifts in the current year and if so, have you or are you planning to file a gift tax return.

You are buying a business or considering expansion opportunities in your existing business.  However, have you considered the cost of capital, or the rate of return you need to generate value? 

Do your plans for the future include selling your small business? For the best chance of a successful outcome, you’d be smart to start preparing for the sale well in advance.

The business you own may make up most of your net worth. When you consider the future disposal of your interest in the business — wholly or partially — it will be essential to determine an accurate value for the business.

Before we discuss what should be included, let’s talk about why you may need a personal financial statement and what a personal financial statement does for you.

As the tax filing deadline approaches and stress levels of taxpayers rise, it’s important to take time to reflect on common 1040 filing mistakes to help ensure that your return isn’t one with errors that slow down a refund or possibly leads to unnecessary tax being paid to the IRS.

The Internal Revenue Service issued final regulations in 2013 regarding expenditures for tangible business property. The regulations pertain to the acquisition, improvement, production and sale of such property.

The New Year begins with many of us making resolutions to eliminate procrastination and committing to self-improvement. Why not include organizing and planning for preparation of your 2014 income tax return to decrease the stress or dread many feel when dealing with filing their income taxes?

Washington State provides insurance to cover injuries to employees on the job through its Department of Labor and Industries (L&I). Washington State provides unemployment benefits to employees who have lost their jobs through its Employment Security Department (ESD). Generally, L&I premiums are funded by payroll taxes based on total hours worked and ESD benefits by…