Seattle's thriving startup scene is alive and well -- driven in small part by the fact that there's no income tax and a booming tech scene. In fact, Seattle is home to more than 6,000 startups, according to the Seattle Metropolitan Chamber of Commerce. This makes it a great place for small business
Seattle’s JumpStart Tax: What Small Business Owners Need to Know
The Seattle JumpStart payroll tax is a tax on businesses with a total payroll of more than $8.1 million annually, and that have at least one employee making $174,337 per year or more. The tax rate is 1% for businesses with a payroll of up to $20 million, 2% for businesses with a payroll of $20
Business Tax Credits in Seattle, Washington
Business tax credits can help businesses reduce their tax liability. These credits are available for a variety of purposes, such as hiring new employees, investing in research and development, or expanding into new markets. Types of Business Tax Credits in Seattle The following are some of the
Can Therapy Be A Write-Off For Your Business?
Running your own business is hard enough. The problems compound when you try to balance it with life (friends and family) and if you're trying to balance side-projects. Add to this our post-calling-it-post-COVID times, and it's easy to succumb to overwhelming stress. It's why many people resort to
When an Employee Asks for a Raise and You Can’t Afford It
As a small business owner, you know that every dollar counts. So when an employee asks for a raise, it can be a tough decision. You want to keep your employees happy and motivated, but you also don't want to put your business in financial jeopardy. If you're in this situation, here are a few
How to fill out form 1120-S
Form 1120-S is an income tax return for S corporations. S corporations are corporations that have elected to pass their income, losses, deductions, and credits through to their shareholders for federal tax purposes. This means that the shareholders of an S corporation report their share of the
The Cost of Invisible Labor: What It Means for Small Business Owners
The COVID-19 pandemic has forced many businesses to adapt to remote work. While this has had many benefits, it has also created new challenges. One of the biggest challenges is the cost of invisible labor. What is Invisible Labor? Invisible labor is the work that goes unnoticed or
Small Business Success Stories: How the HuffPost and Zoom Became Multi-Million Dollar Businesses
Small businesses are the backbone of the American economy, accounting for over 99% of all businesses in the United States. While many small businesses fail, many succeed as well. Here are two examples of just that: Arianna Huffington: The Huffington Post Arianna Huffington is a Greek-American