Our Blog
Solo 401(k), SEP and SIMPLE IRA
Solo 401(k), SEP and SIMPLE IRA offer great self-employed retirement options Solo 401(k), SEP and SIMPLE IRA are three great options for self-employed business owners and their employees. Even if you’re a sole-proprietor or independent contractor, one of these plans...
Fed Rate Cut Effects
Fed Rate Cut Effects Include Cheaper Credit, More Spending What are likely Fed rate cut effects? This week the Federal Reserve Board, or Fed, cut its interest rate by .5 percent. That’s a fairly big cut, and it’s the first one in four years. But how does it affect...
Washington Shared Work Program
Shared Work Program Can Help Employers, Employees The Washington Shared Work Program can help both employers and their employees when business slows down. A downturn in business can hit small companies especially hard. A tempting way to cut costs can be to cut back on...
Washington Considers Retail Delivery Fee
Washington State Study Mulls Effects of a Retail Delivery Fee The Washington State Legislature has commissioned a study on imposing a retail delivery fee on retail and online delivery purchases. Proceeds from the tax would go to cities and towns to help fund road...
Andrews Voted Best Accounting Firm
Andrews Tax Accounting Voted Cascade’s Best Results from the 2024 Cascade’s Best vote sponsored by the Bellingham Herald found Andrews Tax Accounting voted best accounting firm in Whatcom, Skagit and San Juan counties. Voting was open to anyone, with gold, silver and...
Stock Market Crash Ahead?
If There’s a Stock Market Crash, You’ll Want to Prepare Is a stock market crash on the horizon? Stock prices keep climbing right now, but several experts say the bubble is due to burst soon. But don’t despair – there are steps you can follow to weather the storm. Some...
Business Travel Deductions
What Expenses Qualify as Business Travel Deductions? Here are some tips to make sure you’re eligible for your maximum business travel deductions when it comes time to hit the road for work. As well, we list some travel expenses that aren’t deductible that you may want...
Who Has to File a Tax Return?
Different Requirements Determine Who Has to File a Tax Return You might think everyone living in the US has to file a tax return. But there are some folks who don’t. Here’s how to figure out if you’re one of the lucky few. Gross Income The most obvious determining...
Late-Working Accountants and Other News
Late-Working Accountants Finish One-Third of Tasks at Night Late-Working Accountants When it comes to finishing tasks, late-working accountants are burning the candle at both ends. Software maker Numeric reported recently that among bean counters, 34 percent finish...
Minimum Wage Hike and Other Regulation News
Prepare for a Minimum Wage Hike State-Wide and In Bellingham Minimum Wage Hike A minimum wage hike is set to take effect on January 1, 2024, and workers in Bellingham can expect another minimum wage hike starting May 1, 2024. The minimum wage in Washington is adjusted...
Santa’s Secret Is Out
Secret Santa's Secret Is Revealed at the Andrews Wing-Ding Santa's secret has been safe since the beginning of November. That's when everyone drew names to become their lucky Andrews office mate's Secret Santa. And Friday, December 22, all was revealed. Kela loved her...
Drivers, start your holidays!
We've Decked the Halls (Even if We Don't Have Actual Halls) The office elves were a little slow to start your holidays, but once they got going, they couldn't be stopped. Leading the way, head elf Emily. Emily hears those jingle bells - and she's got two sets of ears...
Pay Less for Your Clean Vehicle
Energy Credits Mean You Can Pay Less for Your Clean Vehicle Save the Earth and save money? Thanks to federal tax credits, you can pay less for your clean vehicle. When you buy a qualifying vehicle (more on that in a bit), you can transfer those credits to a dealership...
IRS Scams and How to Avoid Them
Tips on How to Identify and Avoid IRS Scams Avoid IRS scams? I’d never fall for any tax scam, you might think. But these attacks are everywhere, and they can sometimes be hard to spot. In the last few years, scammers have targeted more than 2.4 million people in the...
BOI: Business Owners Will Have to Report Personal Info
BOI Regs Aimed at Cracking Down on Criminal Enterprises BOI – Beneficial Ownership Information – reporting starts at the beginning of next year. You may not have heard of it, but this new requirement is going to affect many, if not most, small business owners who...
Halloween 2023 Tells a Toy Story
The Crew Draws On the Movie Classic for Halloween 2023 Halloween 2023 brought a playful mood as Andrews Accounting used the classic film Toy Story for costume inspiration. As always, the entire office dressed up, then visited our neighboring offices to go "treat or...
ERC Fraud Brings Halt to New Applications
Pay Attention to Red Flags from Shady Promoters to Avoid ERC Fraud ERC fraud – especially by aggressive operators who promise innocent companies big returns – has hit epidemic proportions. As a result, the IRS announced this week that the agency won’t be processing...
Natural Disaster and Taxes
Preparing for Natural Disaster Needs to Include Keeping Records Safe for Taxes Natural disaster and taxes. One is definitely worse than the other. But even if your records are destroyed in a calamity, the IRS still wants you to file and pay taxes. Without your...