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Should you keep receipts? How and for how long? Weekly newsletter: abellatax.com

Here are three things you can (and should) do on IRS.gov today. There will be a business edition as the IRS adds business features, but for now, these just relate to personal tax returns.

Today we're walking through how to make a payment to the IRS (whether that's an estimated payment or a payment on a filed tax return or amendment). Always go directly to irs.gov to make your payment.

Let's talk about the IRS's Failure to File and Failure to Pay penalties, interest, and a couple of ways you may be able to have them waived (abated). (Though interest can never be waived.)

There's a lot of talk about a $50,000 tax deduction for new businesses. Let's talk about what that actually means, what the rules are now, and how that would benefit new business owners.

If you collect sales tax from customers, you may sometimes purchase something for resale and pay tax on it at the point of purchase. Let's talk about how to take the deduction so that the state doesn't get sales tax on the same item twice.

Are you seeing these signs everywhere, too? Two WA State initiatives will be on the ballot that I can give some background information on, I-2124 and I-2109. WA Cares: wacaresfund.wa.gov/ 2026 Tax Cuts Expiring: ruclips.net/video/eaHRFC23yS8/видео.html

Unfortunately, dying doesn't make taxes go away. There are a few filings that may be required after death. Here are the most common ones.

If you're an employee, see if your employer will reimburse you... tax-free reimbursements are better (tax-wise) than more salary. If you're a business owner (including S Corp shareholders), hopefully your home office questions are answered here. If not, please leave your questions below and we'll get them answered.

There are tax implications to nearly any source of funds you might access in an emergency. Here's a rundown of some of those options and their implications.

Without congressional action, tax rates will increase for 2026. There are some things to be aware of as you're considering your financial and tax planning moves over the next year. I don't have a crystal ball, so it's all up in the air, but let me know if you have questions and I'll do my best to answer.

With the ability to do so much by Zoom and phone, are in person meetings overrated? I'm curious to know what you think, as we consider our next round of lease negotiations or a move.

Let's chat about strategies for paying yourself as a business owner. One strategy is Profit First, a book by Mike Michalowicz, which is worth taking a look at. relayfi.com/ is a bank that fully supports the Profit First methodology.

Here are a few things I've run into on the internet this week that should come with warning labels. Wondering if something you've run across is legit? Please ask!

Most Common IRS Letters (Don't ignore them!)

Q2 WA State Agency Updates

Fixing Mistakes: Amending Tax Returns

Do you practice continuous improvement?

Quick Business Spring Cleaning

What's new in WA State? Q1 2024

Cleaning House: Donating Stuff and Deducting It

What's due, and when? Business Deadline Calendar

Backdoor Roth IRAs: Who, Why, and How?

Small Business Tax Credits - Money back in your pocket

Tax Basics 4: Q&A

Tax Basics 3: Calculating Tax and Adjusting Withholding

Tax Basics 2: The Tax Return

Tax Basics 1: Deciphering Paystubs

When and How to File 1099s (due 1/31)