New 1099 Reporting Requirements Effective for 2012
Individuals who own rental property are required to file forms 1099
for payments over $600 to service providers beginning in
2012. This article explains the rules...
Links to Newsletter Archives
To view a pdf version of our newsletter, click on the desired issue
below:Winter ...
New Mileage Rates as of July 1, 2011
IRS makes mid-year adjustment to mileage ratesFor the third time in
six years, the IRS has announced a mid-year increase in the
business standard mileage rate to reflect high...
Sweeping new IRS "repair regulations" impact most businesses
The IRS has released much-anticipated temporary and proposed
regulations on the capitalization of costs incurred for tangible
property. They impact how virtually any business writes off costs
that rep...
IRS launches third version of voluntary offshore disclosure program
The IRS reopened its offshore voluntary disclosure program in early
2012 in response to what the government described as strong
interest among taxpayers. The reopened program, the third of its
type in...
FAQ: What tax breaks come with raising a child?
Taxpayers with children should be aware of the numerous tax breaks
for which they may qualify. Among them are: the dependency
exemption, child tax credit, child care credit, and adoption
credit. As th...
February 2012 tax compliance calendar
As an individual or business, it is your responsibility to be aware
of and to meet your tax filing/reporting deadlines. This calendar
summarizes important tax reporting and filing data for
individuals...
Estimated tax: Getting it right
Estimated tax is used to pay tax on income that is not subject to
withholding or if not enough tax is being withheld from a person's
salary, pension or other income. Income not subject to withho...
Newsletters
Peterson & Associates, P.S. was founded in 1962 by Vernon F. Peterson to offer high quality accounting, tax, and consulting services to business and individual clients. Our staff has a solid reputation for providing outstanding services that help the firm's clients reduce taxes to the legal limit, increase profitability, and generally achieve their business and personal financial goals.
As you browse through our Website, you will see that not only have we highlighted background information on our firm and the services we provide, but have also included useful resources such as informative articles (in our Newsletter section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external Websites that we felt would be of interest to our clients and visitors (in our Internet Links section).
While browsing through our Website, please feel free to contact us with any questions or comments you may have - we'd love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions.
All owners and staff CPAs of Peterson & Associates, P.S. hold a valid Washington State CPA certificate and license.