Black Friday is a global shopping phenomenon, synonymous with deep discounts and frenzied crowds. While large conglomerates and big-box retailers dominate the Black Friday landscape with their massive advertising budgets and deep-pocketed promotions, small businesses often find themselves struggling
Small Business Booming in Seattle (and especially in U-District)
Interest in starting small businesses is rising across Washington state. In 2022, 25% more business applications were filed than in 2019, according to the U.S. Chamber of Commerce -- with King County specifically having had the most applications (at over 33,200). All of which begs the
The IRS’s new withdrawal process for the employee retention tax credit (ERC)
What is the ERC? The ERC is a tax credit that was created to help businesses during the COVID-19 pandemic. It allows businesses to claim a credit for certain wages paid to employees who were unable to work due to the pandemic. Why is the IRS offering a withdrawal option? The IRS is offering
Ways to Increase your Medical Practice’s Profitability
According to the Medical Group Management Association (MGMA), the average EBIDTA margin for medical practices in the United States was 17.5% in 2021. However, this can vary widely depending on the specialty, size, and location of the practice. For example, a fledgling medical practice may have a
Why more entrepreneurs do not switch from a sole proprietorship to an S corp
S corporations offer a number of advantages over sole proprietorships (visit our tax calculator to test it yourself), including the ability to avoid self-employment taxes and limited liability protection. However, many small business owners do not bother restructuring, but why? There are a
What Medical Expenses Are Tax Deductible?
Medical expenses can be a significant financial burden for many people, especially those with chronic health conditions or who have recently had a major medical event. While there are many government and private programs that can help people pay for medical care, the tax code also offers some relief
Financial Advice for New Doctors
As a new doctor, you're starting a new chapter in your career and your life. If you're recently done with school, then it's likely you're earning a decent salary for the first time, and this is a great opportunity to get your finances on solid footing and start saving for your future. Here are a
$200M Deficit & Seattle’s Stabilization Efforts
Seattle's Revenue and Forecast Council (RFC) released a report in November 2022 that projected a $141 million shortfall in the city's 2023-2024 budget. The RFC also projected that the city would face an additional $82.3 million shortfall in the following two years, bringing the total budget hole to