In the US alone, we lose around $500 billion in taxes yearly. When you hear about people keeping money in offshore bank accounts to avoid paying taxes, it’s costs the economy a lot more than their individual sum – it’s costing billions of dollars over time.Offshore bank accounts are one of the
King County Property Taxes Pricing People Out Of Their Homes
Washington State has long been a desirable location for many individuals and families seeking a high quality of life. With its scenic landscapes, vibrant cities, and thriving economy, it is no wonder that so many people want to call this place -- and its neighborhoods -- a home. However, recent
Will raising the minimum wage improve inflation?
If you're someone who works minimum wage, the idea of a pay raise is likely music to your ears. Opinions are divided on the question of whether raising the minimum will improve or worsen inflation however. Here's an overview of how wage hikes have affected the US and EU and what with differing
Biden looking to raise billionaire taxes
As the United States grapples with issues of income inequality and economic fairness, President Biden has boldly proposed raising taxes on billionaires who currently pay 3% or less. This proposal was highlighted in his State of the Union address and has been a point of discussion ever since.
How to respond to a client suffering sticker shock
Sticker shock, or client objection over price, is something all salespeople deal with at some point in their careers. And, most entrepreneurs are their company's salespeople in their business' infancy. It is a feeling that the prospect wants to spend less money on the product or service, even though
What are the most common questions CPAs get asked?
The role of a CPA is to help clients manage their finances and taxes. As an expert in accounting, you're expected to have answers for your clients when they have questions about their future, their business, and what to expect come tax day. The following is a list of some of the most common
What Kind Of Recession Are We Looking At?
This may come across as a hot take, but despite the gloom and doom broadcasted, the data appears to support that the current economic climate in the United States is looking favorable. Despite inflation, America teetering on the brink of its debt ceiling, and the numerous layoffs in tech industries,
Who Can Claim A Home Office Deduction For 2022 Taxes?
A home office deduction is available to almost any business owner and is generally a deduction of up to $5,000 per year. However, the deduction does not apply if you're simply working from home during COVID.To make sure you qualify, check with your tax preparer because there are specific rules