Let’s face it—as a lawyer, you probably didn’t dive into law school to manage numbers and financial records. But proper legal accounting, especially when it comes to handling client retainers, is a non-negotiable part of running a successful and compliant law practice. Mishandling client funds can
Can You Deduct Rental Expenses with No Rental Income?
As a landlord, reporting rental income accurately on your tax return is a legal obligation, and understanding the associated deductions can significantly impact your financial outcomes. Rental income encompasses more than just the monthly payments you receive from tenants—it also includes advance
Obtaining a Business License in Kirkland
Starting a business in Kirkland, Washington, is an exciting venture, but before you open your doors, it’s essential to secure the necessary legal permissions. A business license is not just a formality; it’s a legal requirement to operate within the city limits or provide services to Kirkland
What is an Employer Identification Number (EIN) & How to Apply
If you're starting a business, you may have come across the term EIN, or Employer Identification Number. But what exactly is it, and how does it fit into your business operations? Whether you’re a sole proprietor just starting out, or an established business scaling up, understanding the EIN is
Starker v. United States: Section 1031 Exchanges
Section 1031 of the Internal Revenue Code has long been a cornerstone of tax planning for real estate investors, enabling them to defer capital gains taxes when exchanging like-kind properties. While this provision encourages reinvestment and stimulates economic growth, it also requires strict
How SMB Owners Can Stay Ahead of Taxes Without Losing Focus
When you first launched your business, every dollar mattered — and you probably handled everything yourself. From sales to marketing to late-night invoicing, it was all in your hands. Fast forward a few years, and now you’re managing a team, juggling clients, expanding your offerings, and… still
Can You Write Off Therapy as a Business Expense?
Running your own business is demanding. Between managing clients, staying on top of deadlines, and keeping operations afloat, stress often becomes a silent partner. Factor in the post-COVID reality of blurred work-life boundaries, and it’s no surprise that more entrepreneurs are turning to therapy
What Conklin v. Davi Can Teach Modern Buyers About Marketable Title and Adverse Possession
In today’s fast-paced real estate market, where digital listings, bidding wars, and off-market deals are more common than ever, one truth remains timeless: a well-written contract is your best protection. The 1978 case of Conklin v. Davi might be decades old, but its lesson is more relevant than