Federal tax preparation and bookkeeping for Washington businesses — no income tax but capital gains tax applies.
Washington filing deadline: No state return required. Washington has no income tax but enacted a 7% capital gains tax on high earners.
No income tax but 7% capital gains tax on gains over $270K.
Services in Washington: Tax Preparation, Bookkeeping, Payroll, Tax Planning.
How does Washington's capital gains tax work? Washington imposes a 7% tax on long-term capital gains exceeding $270,000 (after deductions). This applies to stocks, bonds, and other financial assets — but not real estate or retirement accounts.
What is the Washington B&O Tax? The Business & Occupation Tax is a gross receipts tax with rates from 0.138% to 3.3% depending on classification (retailing, manufacturing, services, etc.). No deductions for costs — it's on gross revenue.
Is Washington still income-tax-free? Washington has no traditional income tax, but the capital gains tax (upheld by the state Supreme Court) effectively taxes high-investment-income earners. We plan around both.
Capital gains tax planning for Washington's 7% tax on gains over $270K
B&O Tax classification and compliance across Washington's complex rate categories
Tech industry stock compensation planning for Seattle-area workers
Investment timing strategies to manage the capital gains threshold