Heated debate ahead on tax reform proposals
President Obama recently said that he wants a tax reform/deficit
reduction package by August and lawmakers have many proposals to
consider. The President has introduced a $3.77 trillion budget for
...
Using your 2012 tax-year return to plan for the future
Did you owe tax on your 2012 tax return? Did you receive a sizeable
refund? Or, conversely, did you receive a smaller refund than you
expected? If so, take another look at your tax return from this...
The new 3.8 percent net investment tax continues to challenge
Questions over the operation of the new 3.8 percent Medicare tax on
net investment income (the NII Tax) continue to be placed on the
IRS's doorstep as it tries to better explain the operation of th...
How do I? Compute the small business health insurance credit
Under the Patient Protection and Affordable Care Act (PPACA), small
employers can claim a credit for providing health insurance for
employees and their families. Health insurance includes not only
...
FAQ: What is "cost of goods sold"?
A business that manufactures products to be sold, or purchases
products for resale, must value its product inventory at the
beginning and the end of each tax year to determine the cost of
goods sol...
May 2013 tax compliance calendar
As an individual or business, it is your responsibility to be aware
of and to meet your tax filing/reporting deadlines. This calendar
summarizes important tax reporting and filing data for individu...
FAQ: Are individuals now required to purchase health insurance?
The answer is no for 2010, but yes, in practical terms, for 2014
and beyond. The health care reform package (the Patient Protection
and Affordable Care Act of 2010 and the Health Care and Education
Re...
FAQ: What if I owe taxes and can't pay the full amount?
If you have completed your tax return and you owe more money that
you can afford to pay in full, do not worry, you have many options.
While it is in your best interest to pay off as much of your tax
l...
Payroll taxes can be a minefield for small employers
More small businesses get into trouble with the IRS over payroll
taxes than any other type of tax. Payroll taxes are a huge source
of government revenue and the IRS takes them very seriously. It is
ac...
FAQ: Audits and Examinations
Q: After what period is my federal tax return safe from audit? A:
Generally, the time-frame within which the IRS can examine a
federal tax return you have filed is three years. To be more
specific, Co...
FAQ: Are closing costs tax deductible when you refinance?
This is a simple question, but the question does not have a simple
answer. Generally speaking the answer is no, closing costs are not
deductible when refinancing. However, the answer depends on what
y...
Newsletters
Welcome and thank you for visiting our Website. As you browse through our Website, you will see that not only have we highlighted background information on our firm and the services we provide, but have also included useful resources such as informative articles (in our Newsletter section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external Websites that we felt would be of interest to our clients and visitors (in our Internet Links section). While browsing through our Website, please feel free to contact us with any questions or comments you may have - we'd love to hear from you.
Our accounting firm is proud to have provided professional services to individuals and small business clients for 20 years in Kitsap County including Silverdale, Bremerton, Port Orchard and Poulsbo. Of course we offer bookkeeping, financial statement preparation, tax return preparation, tax planning and IRS audit representation. We also have extensive experience in the construction and real estate industries and in using QuickBooks software. And we can help you with accounting for any type of business: sole proprietor, S corporation, limited liability company (LLC), limited liability partnership (LLP), partnership, estate or trust.
Our accountants, Chuck Huddleston, Terri McKenzie and Vicki Finney are committed to providing professional, knowledgeable and friendly services. We are all highly active in the community as well. Chuck and Terri are also members of the American Institute of Certified Public Accountants (AICPA) and the Washington Society of Certified Public Accountants (WSCPA).
