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New business

Steps for Electing Sub S Status for Washington LLC or Corp

July 11, 2013 By Stephen Nelson CPA

Picture of scissors cutting a piece of paper with taxes written on it.

In earlier posts, I've described how to set up your own Washington corporation or limited liability company. And I've talked about the rules for and … [Read more...] about Steps for Electing Sub S Status for Washington LLC or Corp

Filed Under: business taxes, Incorporation, New business

Forming a Washington State Corporation

July 1, 2013 By Stephen Nelson CPA

Picture of Washington state flag

You can pay one of those online services to set up a Washington corporation. But if you’re at all the do-it-yourself type, the actual steps you take … [Read more...] about Forming a Washington State Corporation

Filed Under: Incorporation, New business

What Sort of Accounting System Does a Small Corporation Need?

June 27, 2013 By Stephen Nelson CPA

Picture of balance sheet.

I've been working with the new version of QuickBooks the last couple of weeks. And that activity has made me think in very general terms about the … [Read more...] about What Sort of Accounting System Does a Small Corporation Need?

Filed Under: Bookkeeping, New business, Software

Washington State LLC vs Corporation Rules

June 21, 2013 By Stephen Nelson CPA

Picture of pencil writing word profit.

New business owners often want to organize a venture as a corporation or limited liability company. And that choice makes great sense. Both LLCs and … [Read more...] about Washington State LLC vs Corporation Rules

Filed Under: business taxes, Incorporation, New business

EIN Rules for Washington LLCs

June 5, 2013 By Stephen Nelson CPA

Picture of reading glasses and tax form.

You may need to get an Employer Identification Number, or EIN, for a new Washington State limited liability company so you can open a bank account and … [Read more...] about EIN Rules for Washington LLCs

Filed Under: Incorporation, New business

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S corporation Tools

Use our S corporation tax savings calculator to make a quick estimate of the annual tax savings per owner.

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Featured Posts

Use the Section 199A Deduction Calculator to estimate the new "Qualified Business Income" deduction.

Section 199A QBI Deduction Calculator

Starting in 2026, the Section 199A deduction works slightly different. Congress adjusted the formulas for inflation, improved how future inflation … [Read More...] about Section 199A QBI Deduction Calculator

Millionaires' tax limits charitable deductions

Washington’s New Millionaire Tax Quietly Limits Charitable Deductions

If you’re a taxpayer likely affected by Washington’s new “millionaire tax?” Or you run a charity in Washington state? Yeah. You want to understand how … [Read More...] about Washington’s New Millionaire Tax Quietly Limits Charitable Deductions

Sleeper material participation methods sometimes work for short-term rentals

Sleeper Material Participation Rules for Short-Term Rental Investors

Short-term rental investors often know the first three material participation rules—more than 500 hours, substantially all the hours, and 100 hours … [Read More...] about Sleeper Material Participation Rules for Short-Term Rental Investors

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