Business
Handling an Uncashed Payroll Check
Have you ever had an employee not cash a paycheck? What do you do with the uncashed payroll check? Whose responsibility is it to follow up? It can be a confusing situation, but it is important to handle it correctly to ensure compliance with state regulations. Here is a quick overview of what to do when a Washington State employee doesn’t cash their paycheck: Contact the employee: Start by reaching out to the employee to…
Read MoreIs an S-Corp election right for me?
We get this question a lot. For some businesses, the S-Corp election makes sense; for others, it doesn’t, and for still others, it’s a maybe. So how do we make sense of it? Let’s skip ahead and dive right into why or why not an S-Corporation is for you. Pros of an S-Corp Cons of an S-Corp How much will an S-Corp save? This is a tricky question. The Tax Jobs and Cuts Act of…
Read MoreAre you hiring an employee or a contractor?
It’s no secret that every growing business needs help. When you hire a worker, you may not know if they are a contractor or an employee. You might think that it’s easier and more affordable to hire workers as contractors. This is one of the most common misconceptions out there. You’ll save a lot of money by knowing the difference and what to do in both cases. Let’s start with a few questions about the…
Read MoreWhen Should I Hire a Bookkeeper?
As accountants, new business owners often ask us, “When should I hire a bookkeeper?” It depends, of course. But, to know what signs to watch for, here’s a list. It will help you identify when you might be ready to hire a bookkeeper. The best time to hire a bookkeeper is before you even start the business. A bookkeeper can help with important initial tasks. As your business grows, your bookkeeper is invaluable. And with…
Read MoreStop Doing Your Own Bookkeeping
There are so many reasons to hire a bookkeeper! Here are my top ten favorites. 1. Be in Compliance Many business owners see accurate, timely filings as a must. They are a basic, non-optional cost of doing business. Not having an expert handle your filings is risky. You also need to understand what to file. Bookkeeping is a full-time job! Most business owners lack the time to track the ever-changing rules and tax laws. 2. Increase…
Read MoreHow-to: Opting into Active Non-Reporting Status
Hey business owners! Does filing your quarterly or annual Washington Department of Revenue (WA DOR) tax return get you down? We want to tell you about Active Non-Reporting status and how it may make running your business a little easier. What is Active Non-Reporting Status? Beginning January 1, 2023, the WA DOR now offers an option called Active Non-Reporting Status for businesses that meet specific criteria. This status allows you to actively conduct business in…
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