News & Tips - Augustedge, PLLC

Unlocking the Mystery: The Surprising Tax Implications of Damage Awards You Need to Know!

Article Highlights: Complex Area of Tax Law Physical Injury and Physical Illness Wrongful Incarceration Emotional Distress Wrongful Death Employment Discrimination and Sexual Harassment Punitive Damages Egg Donor Pain and Suffering Interest Employer-Related Issues Injury to Capital and Lost Profits Business-Related Damages Deductibility of Attorney Fees Out of Court Settlements The taxation of damages and their deductibility by the payer is a complex area of [...]

By Augustedge Staff|2024-08-01T18:30:07+00:00August 12, 2024|Taxes|Comments Off

Top 5 Accounting Mistakes Small Business Owners Make and How to Avoid Them

Proper accounting is the backbone of any successful small business. It ensures that your financial records are accurate, helps you make informed decisions, and keeps you compliant with tax regulations. However, many small business owners, who juggle multiple responsibilities, often commit common accounting mistakes that can lead to significant issues down the line. Avoiding these mistakes can save you time, money, and stress. Here, [...]

By Augustedge Staff|2024-08-01T18:23:32+00:00August 9, 2024|Accounting|Comments Off

Reclaim Your Life: Essential Steps to Overcome Identity Theft and Secure Your Future

Article Highlights: Tax-related Identity Theft Immediate Steps for Taxpayers Report the Incident to the IRS Contact Other Agencies Secure Your Personal Information Stay Vigilant How the IRS Protects Taxpayers Special Number for Filing Tax Returns Obtaining an Identity Protection PIN (IP PIN) In an era where digital transactions and online interactions have become the norm, the specter of identity theft looms large, posing significant [...]

By Augustedge Staff|2024-08-01T18:19:31+00:00August 8, 2024|Uncategorized|Comments Off

Invest in Customer Experience to Boost Your Bottom Line

In today's competitive business landscape, providing an exceptional customer experience (CX) is no longer a luxury—it's a necessity. Companies that prioritize CX not only foster customer loyalty but also see significant improvements in their financial performance. This article explores how investing in customer experience can enhance your bottom line, focusing on the accounting, cash flow, and profit aspects. The Importance of Customer Experience Customer [...]

By Augustedge Staff|2024-08-01T18:14:34+00:00August 7, 2024|Business|Comments Off

A Retiree’s Guide to Reducing Taxes on Social Security Benefits

Article Highlights: Funding Taxation Thresholds and Conditions Railroad Retirement Married Taxpayers Filing Separate Survivor Benefits Strategies to Minimize Taxation Income Planning Tax-Deferred Savings Tax-Efficient Investments Deductions and Credits Tax Withholding on SS Benefits Same-Sex Married Couples Gambling & Social Security Taxation International Aspects and Treaties Social Security benefits serve as a crucial financial backbone for millions of retirees, disabled individuals, and families of deceased [...]

By Augustedge Staff|2024-08-01T18:08:01+00:00August 6, 2024|Taxes|Comments Off

Breaking News: The IRS Has Just Updated Their Position Related to Denying or Paying Employee Retention Credit (ERC) Claims

Article Highlights: IRS's Current Position on ERC Claims High-Risk Claims Medium-Risk Claims Low-Risk Claims Availability of a Voluntary Withdrawal Program Businesses with Unprocessed Claims Businesses with Uncashed Refund Checks Businesses with Concerns About Claim Validity How to Withdraw an ERC Claim The Employee Retention Credit (ERC) was introduced as a part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 to [...]

By Augustedge Staff|2024-08-01T18:00:28+00:00August 5, 2024|Taxes|Comments Off

Essential Tax and Financial Planning Strategies for Boomers and Gen Xers Approaching Retirement

As Boomers and Gen Xers approach retirement, effective financial planning becomes crucial to ensure a comfortable and secure future. This article outlines essential tax and financial planning strategies tailored to the unique needs of individuals nearing retirement. By understanding and implementing these strategies, you can navigate the complexities of retirement planning with confidence. Understanding Retirement Goals Before diving into specific strategies, it's important to [...]

By Augustedge Staff|2024-08-01T17:53:08+00:00August 2, 2024|Financial Planning|Comments Off

Boost Your Income: How Renting Your Vacation Home Can Maximize Your Earnings and Minimize Your Taxes

Article Highlights: Definition of a Dwelling Unit The Augusta Rule Personal Use Days Taxpayer Uses It Over 10% of the Rental Days Definition of Rental Days Definition of Personal-Use Days Fix-Up Days Allocating Expenses Short-Term Rentals Room Rentals Renting to a Relative Fair Rental Value Owning a dwelling unit that is used as a vacation home can be a dream come true, offering a [...]

By Augustedge Staff|2024-08-01T17:48:58+00:00August 1, 2024|Taxes|Comments Off

How an Accounting Pro Can Help You Create and Stick to a Budget

Maintaining a clear and effective budget is crucial for success. Yet, many businesses are overwhelmed by day-to-day operations, often making financial decisions without a solid forecast. This can lead to unexpected financial troubles and missed growth opportunities. As accounting professionals, we understand the challenges you face. We are here to offer insights on how a well-structured budget, crafted with the help of an accounting [...]

By Augustedge Staff|2024-07-03T15:44:28+00:00July 11, 2024|Accounting|Comments Off

Living Below Your Means: A Key to Entrepreneurial Success

Starting a business is a thrilling adventure, filled with dreams of innovation, independence, and financial success. However, the reality of entrepreneurship often involves long hours, relentless challenges, and financial uncertainty. As tax and accounting professionals, we have seen firsthand the struggles that startups face. One of the most critical lessons for new entrepreneurs is understanding the importance of living below your means to ensure [...]

By Augustedge Staff|2024-07-03T15:37:30+00:00July 9, 2024|Financial Planning|Comments Off

Augustedge, PLLC
Wenatchee Satellite Office

Augustedge, PLLC
Insurance Virtual Office

Augustedge, PLLC Wenatchee Satellite Office

Augustedge, PLLC Insurance Virtual Office

Augustedge, PLLC
Wenatchee Satellite Office

Augustedge, PLLC
Insurance Virtual Office