Tag: taxes

BUILD Black Wealth Workshop – Tax Education: Tax Issues and Q&A

Are you struggling with your Personal Tax Situation?

Whether you have questions about your income taxes, haven’t filed taxes in a while, or just don’t know where to start, this is the workshop for you. Join us and our BUILD partner, Nichele Smith of Smith Strong Services, to ask and learn in an open forum to get some assistance and answers to your questions in real-time.

More about our Facilitator:

Nichele Smith is born & raised in Seattle and has worked in roles focusing on administrative assistance, financial management and accounting, business operations and compliance, facility operations, and staff management for the past 10+ years. She has held positions in a variety of industries ranging from K-12 education, labor unions, advertising, construction management, and non-profit management. Taking her collective skills of financial management and business compliance, she became a certified tax professional and enrolled agent in 2018 with the goal of educating others on how to improve their tax position to see their businesses grow. Through the word of mouth of trusted clients, she has become a trusted resource for many small business owners and taxpayers. Nichele holds a Bachelor of Science in Business Management and an MBA with a focus on Supply Chain & Management Operations.

March Small Business Legal Clinic

Communities Rise and Ventures have partnered to offer pro-bono legal services for your business. Small business owners can make an appointment for a one hour consultation to meet one-on-one with an attorney to answer legal questions about their governance and business law needs. The clinic is a great opportunity for general questions on the following:

• Business Entity Formation – Advising on choice of entity (LLC/PLLC, Sole Proprietor, Partnership, C-Corporation, Social Purpose Corporation) and creation of corporate entity.
• Advice on Corporate Governance
• Maintenance and Compliance with State and Federal Law
• Taxes – Advising on federal, state, and local taxes.
• Contracts – General advice on business contracts.
• Employment – General advice on personnel policies, independent contractor agreements, vendor agreements, employment contracts, and confidentiality agreements.
• Real Estate – General advice about property leases, purchase and sale agreements.
• Risk and Liability Assessment – General advice on risk and liability assessment, and insurance coverage.
This clinic is exclusively for small businesses, and does not provide services for individual or personal concerns. Consultations are by appointment only and often fill up quickly. To be eligible, household income must be less than 80% of the 2020 HUD King County median income.

These services are available by appointment only for Washington based small businesses. Email contact@communities-rise.org with questions or to schedule. All clinics have been moved online until further notice.

BUILD Black Wealth Workshop – Tax Education: Personal Taxes

Are you struggling with your Personal Tax Situation?

Whether you have questions about your income taxes? or need some help covering the cost of getting your taxes filed for free, this is the place for you! Here’s the kicker, most Black people aren’t able to capitalize on some of the most lucrative areas of filing taxes. Join us and our BUILD partner, Nichele Smith of Smith Strong Services, to learn how properly file your taxes, reduce your tax burden, and possibly maximize your tax refund.

More about our Facilitator:

Get answers to some of your most basic tax questions and file your taxes with peace of mind knowing they were done right! Free tax preparation will be made available for personal tax returns and small business tax returns for participants.

There is no income requirement to qualify for the FREE tax services.

February Small Business Legal Clinic

January Small Business Legal Clinic

Tax Essentials for New and Existing Business Owners

Paying taxes is inevitable. But reporting and paying the right taxes timely is the goal you want to achieve to give you peace of mind and allow you to focus on more important areas, like driving your business forward.

This 2.5-hour workshop will help you learn about:

• Federal taxes imposed on your business.
• Federal taxes you need to report and pay on amounts paid to your employees.
• Federal taxes you need to report and pay based on your business’s profits.
• Washington taxes imposed on your business.
• City and local taxes imposed on your business.
• Record keeping requirements to ensure you are ready for that taxing agency audit.

After attending this workshop, you should also consider attending the “Tax Saving Strategies for Small Businesses” workshop which will allow you to take your knowledge from this workshop and drive your taxes lower to save you money!!

Presenter Description

This workshop is presented by Joe Heinrich, a SCORE Mentor, who is a retired CPA having worked for 12 years with KPMG, an international accounting firm, and 22 years with Coca-Cola Enterprises Inc. in various finance executive positions. Over the past 10 years since his retirement, Joe has help hundreds of small business owners make their businesses more profitable, eliminated problems with their accounting, assisted them in obtaining financing for their business and helped them save thousands of dollars of Federal and Washington taxes.

The WA State LTC Trust: An Employer’s Guide

Washington is the first State in the Nation to create a Long Term Care Trust program, and will be funded 100% through an employee-paid payroll tax. Most working Washingtonians will be eligible for these LTC benefits only once they have paid into the Trust for a minimum of 10 years. The LTC Trust does allow for individuals to apply for a waiver from the LTC Tax, but they must show that they have purchased their own LTC insurance coverage. The onus is then on the employee to provide their employer with a copy of the State’s waiver.

The session will help you be prepared for the questions your company may soon be receiving from your employees with regards to the tax, the opt out, and the benefits provided under the LTC Trust program.

We will cover a number of topics, including:
• The benefits, eligibility, and limitations of the WA LTC Trust program
• The WA LTC tax provisions
• The exemption option from the new tax, including deadlines to opt out
• An opt-in for non-W-2 employees, along with deadlines

There will be 60 minutes of content, with an additional 30 minutes to answer your questions.

Small Business Tax Essentials: Tax Security and Filings During Covid-19 – Do’s and Don’ts

With special guest: Veronica Tubman, Stakeholder Liaison, IRS

Wednesday, March 31, 2021, 12:00pm EST

Register: https://www.nfib.com/webinars/small-business-tax-essentials-tax-security-and-filings-during-covid-19-dos-and-donts/

Tax time is approaching fast. Whether you hire a professional or do your taxes yourself, you should be aware of COVID-19 tax benefits available to small businesses and make sure you pay the right amount, file on time, and protect your business’s assets.

Highlights from this week’s webinar:

Small Business Tax Essentials: Hear from the IRS on estimated taxes, self-employment tax, withholding tools for employers, tax security awareness, and more.
Interacting with IRS: Hear about examination and collection processes.
PPP updates: Updated loan application forms and deadline for filing.
Shuttered Venue Operators Grant (SVOG):New information about SBA’s application portal, which will open on Thursday, April 8, 2021.
Restaurant Revitalization Fund: Three steps businesses need to take now to prepare for the SBA grant program for restaurants and bars.
Q&A LIVE with Beth, Holly, & Veronica

Washington State Business Taxes

While business taxes are a certainty, the types of state taxes a small business owner will be reporting are important to know. In this workshop, you will learn about Washington’s business and occupation (B&O) tax and when and how to collect and pay retail sales tax—straight from the source.

Small Business Tax Basics

Business taxes can be quite complicated for new business owners and seasoned entrepreneurs alike, so it makes sense to learn the basics of business taxes before you file. In this webinar, you will learn the answers to some of your most important tax questions, including the types of business taxes, who you pay them to and how, record keeping, basic deductions, and some tax relief due to COVID-19.

King County Small Business Task Force: https://www.kingcounty.gov/depts/local-services/programs/economic-development.aspx