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Meals and Entertainment Deductions

Meals are back to being only 50% deductible after being 100% deductible during the pandemic. Businesses should have three categories of meals and entertainment to account for the following: Non Deductible: Entertaining clients, prospects, etc. even if a business was...

Personal Property Taxes

Property tax not only applies to real property, but also applies to personal property that is owned and used in a business.  Personal property includes leasehold improvements, machinery, equipment, furniture and supplies. It does not apply to inventory. All...

1099 Reporting Requirements

Taxpayers who have an active trade or business are required to prepare Form(s) 1099 to report various types of payments made during the year. The filing requirement does not include payments made to corporations unless it is a payment for legal services rendered....

Minimum Wage Rates

Effective Jan. 1, 2024, the Washington minimum wage rate increases to $16.28 per hour. The Oregon minimum wage rate is currently $14.20 per hour, unless within the Portland Metro Urban Growth Boundary where the estimated rate is $15.45.