For questions that relate to the laws, practices, and products of the state of Washington.
Questions tagged [washington]
29 questions
14
votes
2 answers
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 same amount because Apple pays sales tax. I'm…
Dmitry
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12
votes
1 answer
What should I be concerned with in buying a house for less than the market value?
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 older.
The house is a 4-bed 2-bath, and it's…
user27283
5
votes
1 answer
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 income earned from the state you were a resident…
cnst
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4
votes
1 answer
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 come back to life?
tcm
- 41
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3
votes
1 answer
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 am however interested in covering myself for…
Leon
- 133
- 3
3
votes
0 answers
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 opt out between 2021/10/01 - 2022/12/31.
How…
Anurag Peshne
- 131
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3
votes
2 answers
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
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2
votes
1 answer
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? Also what kind of tax it will be i.e. short or long…
funkyme
- 21
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2
votes
3 answers
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 I'm aware of are getting a lease which usually…
Ivan Lesko
- 177
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2
votes
1 answer
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 witholding, I cannot say who gets to tax my income. Note…
Karl Jiang
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2
votes
1 answer
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
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2
votes
1 answer
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 does one have to keep paying for the insurance…
Franck Dernoncourt
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1
vote
1 answer
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 point it makes sense to incorporate.
I understand…
JacobIRR
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1
vote
1 answer
rollout covered calls and Washington capital gain taxes
I need some help with my covered calls that is costing few thousands of state tax on non-existent gains.
In 2020, I obtained 4000 shares of XYZ in 2020 at $10 each, total $40k.
In 2024 Jan, I opened covered calls on 4000 shares of XYZ at strike of…
lipeiran
- 111
- 2
1
vote
2 answers
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 amount you pay in for PFML be used to offset and…
Lloyd Banks
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