Huddleston Tax CPAs | Accounting Firm In Seattle

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S Corporation Lens at Squidoo.com

I just published a new lens at squidoo on Saving Taxes with S Corporations. While it's not for everyone, there could be significant savings on self employment tax. The Squidoo lens goes through an example of a business owner with the same income under all the different entity types (S Corporation,

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S corporations and limited…

S corporations and limited liability companies. I will be holding a bisnick event on September 18th that will explain the difference between the various entities and the potential tax savings available in S corporations, LLC's, C corporations and sole proprietors. listen Powered by Jott

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Single member limited liability company (LLC)

Single member limited liability companies (LLC) are ignored for federal tax purpose. Thus you will be taxed as a sole proprietor. Adding a limited liability company, however. will offer liability protection. This can be important. You have the simplicity of a sole proprietor but the liability

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Tax Deadline Changes For Some Businesses

Currently the extension due dates for calendar year Partnerships and Estates fall on October 15th, which is the same day that Individual tax return extensions are due.  Often times this causes problems for those individuals who are waiting for a K-1 to complete their 1040.  The IRS has recognized

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Washington State Destination Based Sales Tax

The new Washington State Streamlined Sales Tax legislation went into effect on July 1, 2008.  What this means is that now every Washington Business needs to collect sales taxes for the tax jurisdiction where the goods or shipped or delivered to.  Before this legislation business collected sales tax

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Economic Stimulus Payment

It's not too late to get your Economic Stimulus Payment from the IRS!  If you still haven't filed your 2007 tax return, you must do so by October 15th to receive your Stimulus Payment.  Remember that if you don't normally file a tax return but want the stimulus check then you must file a return for

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New mileage rates

IRS RAISES STANDARD MILEAGE RATES With gas prices soaring, the IRS has announced an increase in the standard mileage rates that taxpayers can use to deduct the cost of driving for business, medical services, or moving. BUSINESS. Effective for driving from July 1 through December 31, 2008, the