Washington State Long-Term Capital Gains Tax

History Washington State has enacted a 7% excise tax on long-term capital gains over $250,000 (adjusted annually for inflation) from sales of stocks, bonds and certain other…

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New WA DOR Form Filing: Annual Reconciliation of Apportionable Income

The Washington Department of Revenue introduced a new form filing for businesses called the Annual Reconciliation of Apportionable Income. The new annual reconciliation filing is a requirement…

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New GAAP Lease Standard ASC 842

Overview   For those of you on GAAP (Generally Accepted Accounting Principles) basis, a big change took effect on January 1, 2022, and after years of delay,…

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Planning Ahead: Tips for a Smooth Transition

Compared to selling other assets, like real estate or publicly held securities, the sale of a business is often a very personal process with its own unique…

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Avoiding Penalties – Special 401(k) Early Distribution Provision

We’ve all thought about what our retirement will look like, and, maybe how exactly we can retire earlier than expected to experience more of what life has…

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