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 […]

By |2018-06-22T19:58:50+00:00June 22nd, 2018|Finance, Taxes|0 Comments

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, […]

By |2018-02-12T20:42:25+00:00February 1st, 2018|Tax Return, Taxes|0 Comments

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 […]

By |2018-02-01T23:09:26+00:00January 11th, 2018|Accounting, CPA, Finance, IRS, Tax Return, Taxes|0 Comments

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, […]

By |2018-01-16T21:34:16+00:00September 25th, 2017|Accounting, CPA, Finance, Taxes|0 Comments

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 […]

By |2018-01-16T21:37:20+00:00July 25th, 2017|Taxes|0 Comments

A Guide to Estate Planning in Washington State

Nothing is certain except death and taxes. We might as well plan for both, right? Planning for the future doesn’t have to be a touchy subject. In fact, there are nothing but benefits to estate planning and protecting the assets you’ve worked so hard for.

Recent studies have shown that less than half of Americans have wills. Shockingly, only about a third of adults with […]

By |2018-01-16T21:39:45+00:00June 6th, 2017|Accounting, CPA, Finance, IRS, Tax Return, Taxes|0 Comments

12 Important Tax & Financial Dates for 2017

At Opsahl Dawson, we focus on our clients’ financial and business success all year-round, not just during the busy tax season. When you work with us, we’ll work with you throughout the year, making sure you’re staying on top of important deadlines and planning for the future.

To help you get started, here’s a quick rundown of 12 important tax dates for […]

By |2018-01-16T21:41:09+00:00February 23rd, 2017|Accounting, CPA, Finance, IRS, Tax Return, Taxes|0 Comments

How to Find a Trustworthy Accountant

Accounting is more than just crunching numbers. A good accountant can be a vital partner in your professional life and business ventures. But how do you find an accountant you can trust?It’s not like you can risk working with just anyone. Accountants handle private information and help you make big financial decisions that impact your life. You need an accountant who’s qualified, experienced, and trustworthy. […]

By |2018-01-16T21:42:44+00:00December 20th, 2016|Accounting, CPA, Taxes|0 Comments

The 2015 Tax Filing Season is here!

It is time again for the lively advertisements encouraging taxpayers to get their billions back. Meanwhile IRS computer programmers and software venders scramble to rewrite their e-file systems to accept the last minute tax changes passed on December 19 under the Tax Increase Prevention Act of 2014. Fortunately the tax changes brought back a long list of tax deductions, credits, and breaks that were originally […]

By |2017-10-19T18:09:16+00:00February 25th, 2015|Tax Return, Taxes|0 Comments