Washington’s Business and Occupation (B&O) tax is a gross‑receipts tax, which means it’s based on revenue rather than profit. This can surprise new retailers, so here’s what you need to know. Who must pay? Most businesses operating in Washington owe B&O tax. Retailers pay under the “retailing” classification. Tax rates and credits. The rate for...
Running a small business in Seattle means juggling sales, customer service and paperwork. When the year is ending, it’s easy to feel overwhelmed by tax prep. This checklist is a step‑by‑step guide to help you close your books and get ready for tax season. Reconcile every account. Start by matching your bank and credit‑card statements...
The Shocking Tax Savings of an S Corp in Bellevue If you own a business in Bellevue, WA, you might be paying way more in taxes than necessary. The reason? Self-employment taxes are eating up your income. Many business owners don’t realize that switching to an S Corporation (S Corp) can legally slash their tax...
Running a restaurant in Seattle isn’t easy. You already deal with food costs, staffing, and keeping customers happy. Now you need to handle the books without adding stress. This article gives you a clear guide on bookkeeping in Seattle, WA for restaurant owners in 2025. You’ll learn what to do and how to do it...
Churches, like any non-profit organization, require meticulous financial management to ensure transparency, accountability, and compliance with regulations. This comprehensive guide explores the intricacies of bookkeeping for churches in Seattle, addressing key questions and providing valuable insights for religious institutions seeking to maintain their financial health. What Method of Accounting Do Churches Use? Churches primarily employ...
Have you ever wondered what it would be like to walk away from a stable, well-paying W2 job to take the leap into business ownership? Not the chaotic world of startups, but the calculated move of buying an existing business with proven cash flow. It’s a scenario that doesn’t get much attention, yet it’s a...
As a freelancer in Seattle, Washington, navigating the complex world of taxes can be challenging. However, with proper tax planning, you can maximize your deductions, minimize your tax liability, and ensure compliance with both federal and state regulations. This comprehensive guide will help you understand the key aspects of tax planning for freelancers in the...
For entrepreneurs and small business owners in Renton, Washington, knowing when to bring a professional bookkeeper on board can be a game-changer for your business’s financial health and growth. Let’s explore the key indicators that signal it’s time to hire a bookkeeper in Renton. Signs You Need a Bookkeeper in Renton, WA Your Books Are...
Managing taxes as a self-employed individual can be complex and time-consuming. Whether you’re a freelancer, consultant, or small business owner, navigating tax preparation involves understanding deductions, quarterly payments, and IRS compliance. This guide will help you explore self-employed tax preparation services and why they are essential for your financial health. Why Self-Employed Tax Preparation Services...
Streamline Your Finances and Make Informed Decisions for Your Renton Enterprise For small business owners in Renton, Washington, managing finances effectively is crucial for success. When it comes to bookkeeping, entrepreneurs often face the dilemma of whether to handle it themselves or hire a professional. Let’s explore the pros and cons of both approaches to...
For entrepreneurs in Renton, Washington, accurate bookkeeping is not just a tedious task—it’s a powerful tool that can significantly boost profits and drive business success. By maintaining precise financial records, Renton business owners can make informed decisions, optimize operations, and ultimately increase their bottom line. Let’s explore how accurate bookkeeping can be a game-changer for...
For businesses in Renton, WA, maintaining tax compliance is crucial for long-term success and avoiding legal issues. Bookkeepers play a vital role in this process, serving as the first line of defense in ensuring accurate financial records and timely tax filings. Let’s explore how bookkeepers contribute to tax compliance for Renton businesses. Maintaining Accurate Financial...
Self-employment can be rewarding, offering freedom and flexibility. However, it also comes with added responsibilities, including calculating and paying self-employment tax. This tax can be confusing, especially for new entrepreneurs. In this guide, we’ll walk you through how to calculate your self-employment tax accurately so you can stay compliant and avoid surprises at tax time....
As a business owner in Renton, Washington, maintaining accurate financial records is crucial for your company’s success. However, many entrepreneurs make common bookkeeping mistakes that can lead to serious consequences. Let’s explore the top five bookkeeping errors Renton business owners should avoid to ensure their financial health and compliance. 1. Mixing Personal and Business Finances...
Starting a business in Renton, Washington, is an exciting venture, but managing finances can be overwhelming for many entrepreneurs. Proper bookkeeping is crucial for the success and growth of any startup. In this comprehensive guide, we’ll explore the best bookkeeping options for startups in Renton, providing valuable insights and practical examples to help you make...
CentsIQ is a bookkeeping and financial services provider. We serve businesses in Seattle WA (Bellevue, Redmond, Kirkland, Renton, Kent, Maple Valley, Covington) , Portland OR, Memphis TN and beyond.
