Questions tagged [washington]

For questions that relate to the laws, practices, and products of the state of Washington.

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Washington State Paid Family / Medical Leave PFML Withholdings - Are These Deductible As State Income Tax?

Washington state's Paid Family / Medical Leave premium looks and smells like a state income tax. It's mandatory and it's deducted from your paycheck like any federal or state income tax. Can the ...
Lloyd Banks's user avatar
0 votes
0 answers
69 views

RSU taxing moving from NJ to WA

If I have an offer for a job in Seattle, but I will initially be in NJ before moving, how will RSU taxes be affected? Will I have a long term impact from being in NJ briefly before moving to a no ...
user835943's user avatar
-3 votes
1 answer
201 views

What are the pros and cons, if any, of selling my WA-registered car in California as a Washington state resident?

I am a Washington state resident. I have a car registered in Washington state. I may have to drive down to California (Bay Area or Los Angeles). However, on the way back to Washington state, I can ...
Franck Dernoncourt's user avatar
2 votes
1 answer
306 views

Remote work. Company in IL, I am a resident of Washington

I am domiciled in Washington for the entire year. My employer is IL based, and does not have an office in Washington. Similar to Remote work. Live in one state, company in another state. tax ...
Karl Jiang's user avatar
0 votes
1 answer
48 views

What are the minimum financial benefits a long-term care insurance must have to allow a Washington tax resident to opt out from the long-term care tax

Revised Code of Washington (RCW) 48.83.020 (mirror) states: "Long-term care insurance" means an insurance policy, contract, or rider that is advertised, marketed, offered, or designed to ...
Franck Dernoncourt's user avatar
2 votes
1 answer
92 views

Do state payroll taxes qualify for SALT deductions?

Some states in the United States such as Washington state disguise income taxes as payroll taxes. Do payroll taxes qualify for State and Local Tax (SALT) deductions?
Franck Dernoncourt's user avatar
-2 votes
1 answer
157 views

Is it allowed to change one's qualifying long-term-care insurance after opting out from the long-term care payroll tax in Washington?

After opting out from the long-term care payroll tax in Washington by purchasing a qualifying long-term-care insurance, one has to keep a qualifying long-term-care insurance, other one may get in ...
Franck Dernoncourt's user avatar
0 votes
1 answer
78 views

To opt out from the long-term-care payroll tax in WA, does the LTC insurance have to be active by Nov 1, 2021, or simply be purchased by Nov 1, 2021?

To be allowed to opt out from the long-term-care payroll tax in Washington state, does the long-term care insurance have to be active by November 1, 2021, or simply be purchased by November 1, 2021? ...
Franck Dernoncourt's user avatar
2 votes
1 answer
149 views

After opting out from the long-term care payroll tax in Washington by purchasing a qualifying long-term-care insurance, can one drop the insurance?

After opting out from the newly established long-term care payroll tax in Washington state by purchasing a qualifying long-term-care insurance, can one terminate the contract with the insurance? Or ...
Franck Dernoncourt's user avatar
1 vote
1 answer
85 views

Can a US LPR who changed their residency from California to Washington between Nov 2021 and summer 2022 opt ​out of the Washington long-term-care tax?

Can a US lawful permanent resident who changed their residency from California to Washington state between November 2021 and summer 2022 opt out of the newly established long-term-care payroll tax? E....
Franck Dernoncourt's user avatar
-1 votes
2 answers
171 views

Why is the real estate excise tax referred to as an excise tax instead of a sale tax in the United States?

In real estate in the United States, local and state governments may levy a real estate excise tax (or REET) on the sale of real property. E.g., in Washington, the excise tax is as follows (as of 2021-...
Franck Dernoncourt's user avatar
3 votes
0 answers
62 views

How will Washington State Long Term Care tax affect workforce joining in the future

Washington state is planning to bring in a new Long Term Care tax that is going to be 0.58% of the total income. To opt out, tax payers need to buy a private policy before 2021/11/01 and then apply to ...
Anurag Peshne's user avatar
1 vote
1 answer
95 views

Starting an LLC before it is needed

Have business plans for over a year or two out, however, would like to establish the LLC now and have it sit idle until needed. What characteristics should be selected for creating the LLC at this ...
Greg McNulty's user avatar
0 votes
1 answer
92 views

Health insurance coverage for recent immigrant

How does someone obtain health insurance coverage in Washington state as an immigrant.
Raj's user avatar
  • 673
1 vote
1 answer
59 views

In the US, is cancer medication (for a parent living in South America), tax-deductible?

The cancer medication of my parent costs 10,000 USD a month. I would like to pay for this, but I wouldn't have enough money to live off of myself. I was wondering, would the expense would be tax ...
Klik's user avatar
  • 667
0 votes
0 answers
995 views

Can I cash a personal check against my business account?

Can I cash a check made payable to me personally through my business checking account? I'm a sole proprietor in Washington state (U.S.).
mjo's user avatar
  • 1
1 vote
1 answer
122 views

How to include money spent on business as losses

For the last year or so I have been helping as a financial partner to a small business. The person has used the money for business as well as personal expenses and I'm wondering what I need to do to ...
cooldudes202's user avatar
1 vote
1 answer
245 views

How much income justifies incorporating into an LLC?

In the state of Washington, it is easy and cheap to start an LLC with basic liability insurance. I have a small software consulting operation that I use for hobby money, but I'm not sure at which ...
JacobIRR's user avatar
  • 453
12 votes
1 answer
2k views

What should I be concerned with in buying a house for less than the market value? [duplicate]

I've grown up in my grandparents house my entire life. They lived two miles away my entire life. Sleep overs, dinners, barbecues, etc. It's been the plan since I was a kid to buy the house when I got ...
user avatar
2 votes
1 answer
385 views

Tax implication for totaled car payout

I recently had a car totaled. The payout was more than the amount I paid for the car while I bought it. What are the tax implications on this. What kind of tax (if any) I need to pay on the profit? ...
funkyme's user avatar
  • 21
3 votes
1 answer
494 views

liability vs collision coverage

I live in Washington State. I have a reasonably cheap car. I am not afraid to replace it if I have to so covering for damages isn't a problem. Additionally, I have a good job with good health care. I ...
Leon's user avatar
  • 133
4 votes
1 answer
457 views

Why does L & L Energy continue to trade OTC even though it's been defunct for years and its former CEO is in jail?

L & L Energy (LLEN) continues to trade OTC even though the company closed. The former CEO, Dickson Lee, is in jail for securities fraud. Why does LLEN linger on OTC year after year? Can stock ...
tcm's user avatar
  • 41
0 votes
3 answers
8k views

Will I get a tax refund if my bonus+regular paycheck brings me above a tax bracket for that month?

I received my bonus recently, but it was combined with my normal monthly check. The bonus the company gives out is 4 times the monthly pay, which combined with my regular pay is 5 times more... this ...
user3625087's user avatar
2 votes
3 answers
3k views

What's the most economical way of owning a car for a few months?

I'm trying to find a way to own a car for 2-3 months and do it as economically as possible, specifically a sports or luxury car that I don't necessarily want to outright buy and own. The two options ...
Ivan Lesko's user avatar
14 votes
2 answers
5k views

How should I report earning from Apple App Store (from iTunes Connect) in Washington state?

Washington Department of Revenue requires to report all sales by Apple of my applications in the Washington state on my personal excise return. Then I must calculate sales tax and I should deduct the ...
Dmitry's user avatar
  • 251
5 votes
1 answer
2k views

Moving mid-year to a no-state-income-tax state (Indiana to Washington)

It is my understanding that if you move from one state to another mid-year, then, depending on the states and the details of the move, in each state, you are generally either taxed only on the exact ...
cnst's user avatar
  • 495
3 votes
2 answers
17k views

Live in Oregon and work in Washington: Do I need to file Oregon state taxes?

I am an Oregon resident but earned all my income in Washington state in 2011 - do I need to file an OR tax return since I didn't earn any money in Oregon ?
Sherri's user avatar
  • 31