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It can be difficult to tell whether an activity is a business or hobby based on a tax return. Some taxpayers claim expenses to offset income earned, even if they are only operating the business as a hobby. Because of this, the IRS has developed a rule of thumb for analyzing business losses. This is...
Washington has a couple of very unique aspects to the state taxation structure. Firstly, there is no state level personal income tax. Secondly, there is no state level corporate net income tax either. So exactly how does Washington fund the state budget? The state raises funds through sales taxes and the Washington Business & Occupation...
I remember several years ago working with a fellow who had made several trips to almost every state in the U.S. to visit clients, install equipment and provide other services to his customers. I told him, quite sadly, that he had nexus all over the place. He looked at his arms with a horrified expression...
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