Darrcie Inman CPA, PLLC

Very well written article that may be of interest to my clients in Washington State.

Planning for the 35% Washington State Estate Tax For decedents dying after July 1, 2025, Washington raises its top estate tax rate to 35%, highest in nation.

Our annual email with instructions for tax preparation and annual questionnaires have been sent. If you are a client and don't see it, please check your spam. Happy Tax Season!

Today is the day! If you have your own business and use your personal vehicle for business, whether occasionally or a lot, the IRS requires both a mileage log and odometer readings in order to deduct standard mileage. Write down or take a picture or somehow record the odometer reading from your vehicle right now (and every December 31st.) If you are ever examined by the IRS you will be glad you did. Happy New Year from all of us at Darrcie Inman, CPA!

The IRS will start paying out Advanced Child Tax Credit in July. If you would like to opt out of these monthly payments and have the credit apply to your tax return like in all previous years, here is the link. Please note if you file a joint tax return BOTH of you will need to opt out.

https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

Also, please keep track of all monthly payments you receive as this information will be necessary to do your taxes next year (some taxpayers may even have to pay it back!!) If you have any questions, please email me or schedule a phone consultation.

Advance Child Tax Credit Payments in 2021 | Internal Revenue Service Find details about the advance Child Tax Credit payments, including how to get them or stop getting them.