Our Blog
PPP News: Expenses Deductible, New Loans Available
The latest PPP News has favorable developments, making expenses tax deductible and making new loans available.
Santa Came to Town!
It looks like we weren't naughty after all - Santa came! Secret Santa came, and we celebrated the holidays in grand Andrews style! Sorry you couldn't enter our bubble and join the revelry, but we were thinking about you! Santa obviously hit the bullseye for Taryn!...
Employee and Client Christmas Gifts
As a company owner, you may be thinking of giving out employee and client Christmas gifts. Good for you – it’s a giving time of year! And the good news is, if you follow certain Internal Revenue Service rules, those gifts can be tax-deductible.
Year-End Tax Tips
Take Advantage of Year-End Tax Tips by December 31 to Save A combination of CARES Act measures and changes under the TCJA translate into year-end tax tips that can save you money. But don’t delay – you have to act by December 31 to take advantage of some of these...
Trimming the Christmas Tree
Kickstarting the Christmas Season At Andrews Accounting, as soon as Thanksgiving is over, we start trimming the Christmas tree. This year poor Jeri was nursing her freshly broken elbow (!) and had to direct the crew from the sidelines. But with the appropriate music...
New Working WA Grants
State Offering Round 3 of Working WA grants for businesses Gov. Jay Inslee has announced Round 3 of Working WA grants aimed at helping small businesses cope with expenses arising from the Covid-19 pandemic. The state is offering a total of $70 million in business...
Silver Pothos – Featured Plant from Jeri’s Jungle
When you come to the Andrews Accounting office, you’ll notice that Jeri is growing one or two plants. One or two hundred, if you want to quibble. Anyway, we realized that all the humans and dogs in the office appear on our website. So, it seems only fair to include the plants as well. This month we interview the Silver Pothos.
Self-Employed Health Insurance
Self-Employed Health Insurance Premiums Usually 100% Deductible Self Employed Health Insurance? You might look at the price, shake your head, and say, “No way I can afford that.” But take a second look. Even with the belt-tightening that comes with owning a small...
International Accounting Day
Send Your Accountant to an Exotic Destination! November 10 is International Accounting Day. What better gift to give your accountant, then, than an international trip to an exotic destination? Not that we ever want to get away from it all. Why is November 10...
Spooky Season with the Family!
No Tricks for Spooky Season, Only Treats Spooky season, accounting style! Every year since we moved to the lovely Harbor Mall at Squalicum Harbor, we've done reverse trick-or-treating! That means making treats to bring to our office neighbors on Halloween. We got to...
Washington 2021 Minimum Wage and Salary Rates
New regs require a minimum salary for workers to be exempt from overtime The State of Washington 2021 minimum wage and salary rates have been announced. The minimum wage is going up in line with a voter-approved initiative that became law in 2017. New regulations set...
529 College Savings Plans
Two types of state 529 college savings plans let you invest tax-free With all the uncertainty the pandemic has meant for the college-bound, one thing is certain: College costs are going to increase. But there’s an easy way to protect against big bills down the road....
Simplified PPP Forgiveness Form
New PPP Forgiveness Application for Loans Under $50K The Small Business Administration has released a new simplified PPP forgiveness form this week. Companies that borrowed $50,000 or less can now complete a one-page form that skips some calculations that made earlier...
FSA, HRA and HSA: Medical Savings Accounts That Cushion Costs
A medical savings account like an FSA, HRA or HSA let you set aside money tax-free that you can use to cover gaps in insurance coverage.
New Emergency COVID Grant for Bellingham Businesses
Working Washington Small Business Emergency Grants (WWSBEG 2.0) offer up to $10,000 in aid to Bellingham businesses hurt by Covid-19
Latest PPP Forgiveness News
The latest PPP forgiveness news reports some bankers advising borrowers to wait on applying for PPP loan forgiveness. Also, many banks are still readying their digital PPP forgiveness application process. And finally, the Internal Revenue issued a statement on whether lenders should report PPP forgiveness to the IRS.
Employee Or Contractor?
Is your new paid help an employee or independent contractor? If you answer these questions, you’ll know for sure. And you’ll keep the IRS happy.
IRS Targets Small Business Non-Filers, Fraud
IRS Strategy Targets Small Business Non-Filers to Fill Tax Gap The Internal Revenue Service says it’s missing $39 billion in lost taxes. With spending on the rise, the government sorely misses that lost revenue. So to find it, it’s going after the little guys. A new...