A (relatively) recent study by the University of Illinois Chicago found the sugar tax (implemented in several cities,Seattle included) in 2018 may permanently lower the demand for soft drinks. The study compared the amount of sugar sold in products containing the tax and the same product without
How Should Education Be Taxed? An Ohio Bill Pitches Some Interesting Ideas
Taxing colleges has been making the news again thanks to a bill pitched by Ohio lawmakers to "Grow Ohio." For anyone out of the loop, Ohio is at a crossroads. For the first time in the state's history, their death rate exceeded the birth rate. This has caused numerous lawmakers and politicians
A New Tax Rule May Impact Personal and Professional Use of Venmo, Square & Paypal
The new IRS tax rules might impact you, especially if you frequently use payment services like Venmo or Paypal. All common digital payment services, such as Venmo, Paypal, Square, Cash App, and Zelle are changing, starting on January 1, 2022. Obviously, if you're an independent vendor who accepts
Your Children are Worth Less (as the Child Tax Credit is Dropping to $1,000)
There are speculations the child tax credit is dropping to $1,000 by the year 2025. For years, the credit has been in effect to provide a monetary value for parents tasked with taking care of their kids -- they are the future after all. Additionally, kids are one of biggest drivers of the
Billionaires, Love Them or Tax Them?
There are 614 billionaires in the US and 2,755 billionaires in the world. Together they have over $13 trillion worth of wealth. The average net worth of an American, removing the wealthiest, is around $120,000. The billionaires in the US alone, control $5 trillion. According to Forbes, the top 1%
What Happened With GameStop Stocks?
The year 2020 was unprecedented. Reflecting on the global impact of the pandemic is disheartening. The year claimed various initiatives, small businesses, and companies, many coming to a sudden halt. The case was no different with GameStop. GameStop has been losing money for awhile, losing money
The Current State of Washington’s Small Businesses
It's no secret that Seattle has seen booming growth over the last decade with many tech giants making Seattle their primary (or secondary) base of operations. Microsoft, Amazon and Google among many others. The tech industry alone accounts for 17% of Washington's economy which currently ranks 12th
Will Automation Kill The CPA? In A Word: No.
Automation is a huge topic in the world nowadays. It's going to be affecting so many fields and industries for years and decades to come. Automation is going to pave the way of the future. Many people understandably fear that it may make many jobs obsolete. However, CPAs can breathe a sigh of relief