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      September 24, 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.


Soda companies spend millions to stop future soda taxes in Washington

An effort largely supported by big soda companies to block future soda taxes from being implemented is underway in Washington state. Initiative 1634, nicknamed "Yes! To Affordable Groceries," has alre...

Published:  Sun, 23 Sep 2018 14:30:00 GMT

Is a state with no income tax - like Washington - better or worse

Is it better to live in a state with no income tax It's a great question to ask, especially when considering how much of our paycheck is already set aside for Uncle Sam. Seven U.S. states forgo indiv...

Published:  Tue, 11 Sep 2018 05:50:00 GMT

MLB: Dodgers and Yankees still under luxury tax threshold; Red Sox, Nationals over

The New York Yankees are set to achieve their goal of coming under baseball's luxury tax threshold for the first time since the penalty started in 2003. Boston and Washington remain the only teams on ...

Published:  Thu, 13 Sep 2018 00:05:00 GMT

Trump said his tax cuts would bring $5 trillion into the U.S. We have 97 percent to go.

This saved on taxes in two ways: Companies could deduct the interest they were paying on their borrowing, and if they could persuade Washington to give them another tax repatriation holiday, like the ...

Published:  Wed, 19 Sep 2018 08:41:00 GMT

Tax law limit on deductions looms large in some House races

"There is precisely 0.0 percent chance it will be restored if we send Congressman Lance back to Washington to vote for the same GOP leadership that passed the tax bill and will defend it to its dying ...

Published:  Wed, 19 Sep 2018 07:14:00 GMT

Washington Voters to Consider a Carbon Tax-Again

In Washington state, carbon taxation is the idea that's not going away. After a purportedly revenue-neutral carbon tax was defeated decisively at the polls in 2016, and the governor's revenue-positive ...

Published:  Thu, 13 Sep 2018 06:38:00 GMT

Yankees set to avoid luxury tax; Red Sox, Nationals only teams over threshold

The Boston Red Sox and Washington Nationals remain the only teams on track to pay the tax this year, according to Aug. 31 figures compiled by the commissioner's office for clubs and obtained by The As...

Published:  Wed, 12 Sep 2018 17:40:00 GMT

Behind the scenes, Republican Carlos Curbelo builds case for his carbon tax plan

Miami - In his home district as well as in Washington, Rep. Carlos Curbelo is lobbying fellow Republicans to support his carbon tax bill, trying to build momentum where there has been none. When he be...

Published:  Tue, 11 Sep 2018 22:19:00 GMT

New estimate: GOP's second tax cuts would add $3.8 trillion to deficit

The GOP's "tax reform 2.0" would make permanent many of the individual ... Jeff Stein Jeff Stein is a policy reporter on The Washington Post's Wonkblog team. Before joining The Post, Stein was a congr...

Published:  Thu, 13 Sep 2018 09:54:00 GMT

Washington's I-1634 would ban new local taxes on all groceries

The nation's soda industry wants Washington state voters to send their local governments a message this November: When looking to boost your budgets with new taxes, stay away from soda. Initiative 163...

Published:  Fri, 21 Sep 2018 09:49:00 GMT

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