Opsahl Dawson Blog

Expensing Assets: How the Tax Cuts & Jobs Act Changed Depreciation

At the end of 2017, President Trump implemented the Tax Cuts and Jobs Act – the most extensive tax reform measure in over 30 years. This new legislation means big changes for business owners, but perhaps none quite as impactful as the update to depreciation – that is, the ability to expense 100% of certain assets. Here at Opsahl Dawson, our team of experienced CPAs loves helping clients understand the implications of this new [...]

By |June 22nd, 2018|Categories: Finance, Taxes|

How the 2017 Tax Reform Will Affect Small Businesses in Washington

The 2017 tax reform legislation affects more than just C Corporations– it also means changes for small businesses here in Washington and throughout the US. Are you aware of these changes and how they can save you money? The team at Opsahl Dawson is here to help you navigate the waters. In this article we’ll use a fictional example of Goldilocks, a hair salon owner, to explain the new law and how it affects [...]

By |February 1st, 2018|Categories: Tax Return, Taxes|Tags: , , , |

9 Mistakes Made by Do It Yourself (DIY) Accountants

Many small business owners don’t think they need a Certified Public Accountant. Everyone has filed a tax return and has a bank account. How hard can it be? Unfortunately, DIY accounting can lead to bad news for you and your business. The experience and expertise of a CPA is important for making sure that your business is prepared to succeed. Below we’ll talk about 9 of the most common mistakes we see from businesses [...]

By |January 11th, 2018|Categories: Accounting, CPA, Finance, IRS, Tax Return, Taxes|Tags: , , |

Accounting Tips for Vancouver Business Owners

Running a Vancouver, WA business is hard enough without constantly thinking about accounting. Audits, tax penalties, and liens on your bank accounts can result from a simple missed bookkeeping entry or forgotten deadline. With so much on the line, worrying about accounting can keep you from properly running your business. We’ve put together some key accounting tips below to help you keep the finances of your business straight. Keep Your Expenses in Order Keeping [...]

By |September 25th, 2017|Categories: Accounting, CPA, Finance, IRS, Tax Return|Tags: , , |

How To Get a Bank Loan (And Other Questions From Business Owners)

If you’re an emerging business owner in the Vancouver or Longview area, one of the questions you may be asking is how to get a business loan from a bank. We’re here to help!In today’s blog post, we’ll guide you through getting a bank loan for your business. We’ll also take a look at other common financial questions we hear from Washington business owners, including selecting your business entity and planning for state and local [...]

By |September 25th, 2017|Categories: Accounting, CPA, Finance, Taxes|Tags: , , |

How Does the Gift Tax Work?

The US federal gift tax applies to every gift you make in your lifetime. Sounds pretty straightforward albeit a bit daunting, right? Of course, there’s more to it than that. The gift tax has a number of exclusions to be aware of. Trust us when we say, these exclusions are a good thing. Still, all the fine print can start to get a bit confusing and you may be wondering if this tax applies [...]

By |July 25th, 2017|Categories: Taxes|Tags: , |
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