Developing News

By Nicole Lyons, CMI On May 14th, 2018, the Seattle City Council, after much political wrangling and public debate, enacted a new employee hours tax (referred to as the “head tax”) on businesses in the city. The ordinance was signed by Mayor Durkan on May 16th and the tax will take effect on January 1, […]

With the passage of the 2017 Tax Cuts and Jobs Act (TCJA), many clients want to know if the tax benefit of federal research credit (R&D credit) is still available. The TCJA did not directly change the general rules related to the R&D credit.  The R&D credit is available to taxpayers who develop new or […]

By Nicole Lyons, CMI Taxpayers taking advantage of any one of the available State of Washington tax incentives – including tax deferrals, reduced B&O tax rates, exemptions, and credits – may be required to file an Annual Report or Annual Survey. Some incentives require that both the report and the survey be filed, while other […]

If you receive payments from a donor or client based in the European Union (EU), then a new law taking effect on May 25, called the General Data Protection Regulation (GDPR) will require your compliance. The regulation centers around accountability for the personal data of individuals and is applicable to anyone doing business with an […]

Suppliers for Microsoft who handle sensitive information are likely aware that the Supplier Security and Privacy Assurance (SSPA) program data protection requirements were updated to address the General Data Protection Regulations (GDPR) coming out of the EU. GDPR will take effect on May 25, 2018. Suppliers need to be aware of these new requirements to […]

Many parents and loved ones are concerned about funding their children’s education, and it’s no wonder. According to College Board’s recent “Trends in College Pricing” report, average tuition to attend a public four-year institution has increased 213% from 30 years ago. However, there is an option to help with these costs – the 529 plan. […]

Lately, we have heard more conversations around the importance of quality of earnings (QoE) reports, likely due to the growing M&A activity in the region. The Association for Corporate Growth recently circulated the Citizens Bank 2018 report on Middle Market M&A Outlook, noting that 56% of sellers are currently involved in M&A activity or plan […]

One of the most highly touted aspects of tax reform is the cutting of the corporate tax rate from a maximum rate of 35% to a flat rate of 21%.  Many corporations showed their gratitude for the tax cut by paying out bonuses to their employees or promising to boost the economy in other ways. […]

Note: This post, originally published on March 15, 2017, has been updated to include changes brought by the 2018 Tax Cuts and Jobs Act. These changes are indicated in blue italics. Our high net worth clients often want to get their children interested in finance and investing at a young age. Along with this desire […]

Among the many questions around tax reform, one question those in real estate might be asking is whether or not all business interest will be deductible. The answer to this question is likely, “yes.” However, under tax reform, starting in 2018, your interest expense may be limited to 30% of adjusted taxable income. Through December […]

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