News

The Taxation of Collectibles: What Collectors Need to Know

A 1979 Wayne Gretzky rookie card sold for $1.79 million in December, while a Mickey Mantle rookie card brought in $5.2 million. Online collectible sales exploded. U.S.…

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IRS Online Tools and Account Creation

With a shrinking IRS workforce, getting in contact with IRS agents is becoming increasingly difficult. The more traditional methods of communicating with the IRS – by phone…

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Washington Long-Term Care Tax Updates, Withholding Date Extended

On January 27, two bills were passed by the Washington state legislature pertaining to the WA Cares Fund. These bills prolonged the start date for withholding premiums…

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Falco Sult Stresses the Importance for Businesses to Keep Good Accounting Records

Good accounting records are the foundation of a successful business, yet surprisingly a lot of businesses are lacking this crucial tool. Accounting records inform business operations. “There…

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Employment Tax Credit for COVID-impacted Businesses Expanded for 2020 and into 2021

The Employee Retention Credit originally established under the CARES Act in March 2020 allows businesses who have been financially impacted by COVID to claim a credit on…

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