In or Out Tax Service Inc

Worth repeating!

PSA: if you are a sole proprietor (self employed,) you do not need to be a LLC (Limited Liability Company) to deduct business expenses! There are other reasons to organize as one, but that isn’t one of them. Talk to a tax expert before you make this decision.

Washington Sate had a new capital gains tax starting in 2022. https://dor.wa.gov/taxes-rates/other-taxes/capital-gains-tax #:~:text=The%202021%20Washington%20State%20Legislature,tax%20only%20applies%20to%20individuals. It was ruled unconstitutional, but is being appealed.

Capital gains tax | Washington Department of Revenue In March of 2022, the Douglas County Superior Court ruled in Quinn v. State of Washington that the capital gains excise tax (ESSB 5096) does not meet state constitutional requirements and, therefore, is unconstitutional and invalid. The State has appealed the ruling to the Washington Supreme Court.....