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      May 22, 2018

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Tax Relief in Washington

Washington MapAlong with the states of Texas and South Dakota, the residents of state of Washington are fortunate in that they do not have to pay personal income tax. Personal income tax refers to a tax imposed on an individual’s income earned in the form of a salary or wage or through banks, notes, and stocks. Washington is one of the nine states, in the U.S., that do not impose a personal income tax. The state government also goes one step further by not levying a corporate income tax. The bulk of the taxes collected to run the government, manage schools (and such) comes from property taxes — which forms 30% of all the taxes collected— and sales tax.

The results of the Census ACS 1-year survey show that the median household income value of residents in the state of Washington had a value of $58,405. This means that the household income in the state is $6,155 higher than that of US. However, ten years before, it averaged out at $58,781.

Decreased income, a recession, and low minimum wages have forced many residents to become tax delinquent. More and more people are looking for tax relief solutions every day. A tax relief company will have programs that use strategies like negotiated penalty abatement, audit representation and reconsideration, and tax return amendment and review to bail their clients out of tax debt. Owing money to the IRS or State tax entities can lead to severe penalties and tax relief companies offer a way out.

 

An increase in gas prices easily outpaces the benefits of the tax bill for lower-income Americans

If you are in the bottom 20 percent of Americans in income, we have some bad news for you: There goes your tax cut. Democrats have decided to put a new rhetorical emphasis on rising gas prices. Though those prices are largely independent of the effects of ...

Published:  Tue, 22 May 2018 12:35:00 GMT



Dems want to scrap tax cut for rich to fund teachers' raises

WASHINGTON (AP) - Responding to teacher walkouts across the country, congressional Democrats on Tuesday proposed raising teachers' salaries by canceling the tax cut for the nation's top 1 percent of earners. The Republican-controlled Congress was ...

Published:  Tue, 22 May 2018 12:38:00 GMT



Small businesses like mine deserve a tax cut from Washington | Opinion

As the 2018 election nears, Congressional Republicans are making progress on tax cuts "Phase 2.0." Retiring U.S. House Speaker Paul Ryan, R-Wisc., and other Republican leaders plan to make the Tax Cuts and Jobs Act's temporary tax cuts, which are set to ...

Published:  Tue, 22 May 2018 08:31:00 GMT



Former Washington Gov. Christine Gregoire says Seattle head tax "˜undermines our international and national reputation'

Christine Gregoire talks about Seattle's economic competitiveness at MOHAI's Innovation Breakfast. (GeekWire Photo / Monica Nickelsburg) Christine Gregoire didn't mince words when asked about Seattle's controversial new head tax at the Museum of ...

Published:  Thu, 17 May 2018 17:10:00 GMT



Washington's Electric Car Sales Tax Break Drives Away May 31

Washington drivers who are thinking about buying an electric car would be wise to get down to a dealership in the next two weeks. That's because a valuable tax break disappears at month's end. The first $32,000 of the purchase price or lease payments on ...

Published:  Wed, 16 May 2018 17:04:00 GMT



Nancy Pelosi, Chuck Schumer say they would dismantle Trump tax cuts to boost education

Democratic leaders Rep. Nancy Pelosi, Calif., and Sen. Chuck Schumer, N.Y., outlined a plan Monday to invest in teachers by cutting back on the GOP tax cuts. Pelosi and Schumer, in an op-ed published by USA Today, indicated that teacher walkouts and ...

Published:  Tue, 22 May 2018 06:54:00 GMT



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