Profit & Loss Statement | Frequently Asked Questions
A Profit & Loss (P&L) Statement, also known as an Income Statement, is one of the primary financial documents you need to understand your...
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The Importance of Separating Business and Personal Finances
You probably hear time and time again how important it is to separate your personal finances from that of your business. If you’re an LLC...
Tax Deductions for Business Gifts
The holiday season is here and many businesses choose to give their employees and customers gifts. It's a great way to say thank you and...
Deducting Advertising and Promotional Expenses
As a small business owner, you're probably putting some money towards advertising. In most cases, the IRS allows you to deduct...
Tax and Reporting Duties for Bellingham Businesses
As a business owner, you have lots of responsibilities. One of the most important ones is paying and reporting taxes. If you aren't...
Recordkeeping for Car Expenses
As a business owner, if you or one of your employees uses a car you own or lease for business purposes, you may be able to deduct certain...
Workers' Comp | Information for Employers in Washington State
What is Workers' Comp? Workers' compensation, also known as industrial insurance, benefits both the employer and the worker by providing...
Home Office Deductions | FAQ
If you use part of your home for your own business or trade, you may be eligible for a home office deduction! Here are some of the...
Deducting Business-Related Meal Expenses
The rules around deducting meals and how much you can deduct can be confusing. It depends on your business, the circumstances, and who...