News

Secure 2.0 Act of 2022 Introduces Key Changes for Workplace Retirement Plans

Posted January 20, 2023

The Consolidated Appropriations Act, 2023 (Public Law No. 117-328) that was signed into law on December 29, 2022 by President Joe Biden includes the SECURE 2.0 Act of 2022, which introduces over 90 changes to the federal rules governing workplace retirement plans. This landmark legislation builds on the original SECURE Act that was enacted on […]

VSH Promotes Kyle Powers, CPA to Technical Senior Tax Manager

Staff Update

Posted January 19, 2023

VSH CPAs, a leading accounting and consulting firm with offices in Whatcom and Skagit counties, is pleased to announce the promotion of Kyle Powers, CPA, from Tax Manager to Technical Senior Tax Manager. Joining the accounting profession in 2014, Powers has spent the entirety of his career at VSH, starting as an intern. He went […]

VSH Promotes Natalie Trudell, CPA to Senior Tax Manager

Staff Update

Posted January 12, 2023

VSH CPAs, a leading accounting and consulting firm with offices in Whatcom and Skagit counties, is pleased to announce the promotion of Natalie Trudell, CPA, from Tax Manager to Senior Tax Manager. Natalie graduated from the University of Washington Tacoma in 2014 with a Bachelor’s degree in Business Administration with an accounting focus. After graduating, […]

Section 174: Research & Experimental (R&E) Expenditures

Legislation Tax Tips

Posted January 3, 2023

Businesses that invest in research and development should be aware of a major change to the tax treatment of research and experimental (R&E) expenses. The amendment to Internal Revenue Code (IRC) Section 174 made by the 2017 tax reform legislation known as the Tax Cuts and Jobs Act (TCJA) is in effect for tax years beginning in 2022.

Holiday Office Schedule

Office Update

Posted December 16, 2022

To thank our staff for their hard work this year, VSH will be closing our Whatcom and Skagit offices from Monday, December 26th through Monday, January 2nd. Our offices will return to regular operating hours starting in the new year, Tuesday, January 3rd. If anything is needed, please make arrangements by Friday, December 23rd. We […]

2022 Year-End Tax Planning for Businesses

Tax Tips Year End Planning

Posted December 13, 2022

U.S. businesses are facing pressure to drive revenue, manage costs and increase shareholder value, all while surrounded by economic and political uncertainties. Disruptions to supply chains brought about by the pandemic have continued into 2022. Inflation and rising interest rates have made the cost of debt, goods and services more expensive and cooled consumer spending. […]

2022 Year-End Tax Planning for Individuals

Tax Tips Year End Planning

Posted December 13, 2022

With rising interest rates, inflation and continuing market volatility, tax planning is as essential as ever for taxpayers looking to manage cash flow while paying the least amount of taxes possible over time. As we approach year end, now is the time for individuals, business owners and family offices to review their 2022 and 2023 […]

2022 International Investment Overview and Required Filings

International Tax Tips Year End Planning

Posted December 13, 2022

International Investment Overview and Required Filings: Filing requirements are based on a taxpayer’s specific facts and need continual evaluation. FinCEN Form 114 – Foreign Bank and Financial Account Reporting (FBAR): Required by U.S. persons and entities to report non-U.S. financial accounts exceeding an aggregate of $10,000 USD at any time during the calendar year. What […]

2022 Tax Updates & Planning for U.S. Taxpayers Living Abroad

International Tax Tips Year End Planning

Posted December 13, 2022

With 2022 quickly coming to an end, we want to ensure you are aware of your U.S. tax responsibilities and required filings for the upcoming year. Outlined below are helpful tax planning ideas, followed by issues especially relevant to U.S. persons living abroad. Considerations for 2022: Inflation Reduction Act of 2022: The IRS received an […]

Two VSH Partners named to CPA Practice Advisor’s 40 Under 40 List

VSH Leadership

Posted November 2, 2022

Congrats to Lydia Ahn, CPA and Matt Roetcisoender, CPA, CVA on being named to CPA Practice Advisor’s 2022 40 Under 40 List. It is a fantastic honor! Read the article and view the full winner’s list at CPA Practice Advisor: https://bit.ly/40U40-VSH

Business Tax Implications of the Inflation Reduction Act & more

Legislation

Posted September 13, 2022

VSH CPAs’ Kathy Herndon and Sooraj Sall were featured guests on a recent airing of the Whatcom Report radio show on KGMI/News Talk 790 discussing the Inflation Reduction Act and other tax implications you need to know about. Bellingham Chamber CEO/President, Guy Occhiogrosso moderated the conversation. Listen in to the podcast here. Air Date: Sunday, September […]

Business Tax Implications of the Inflation Reduction Act (IRA)

Legislation

Posted August 18, 2022

President Joe Biden signed The Inflation Reduction Act (IRA) into law on Tuesday, August 16. The legislation, which is a pared-down version of the proposed Build Back Better plan, was passed through the budget reconciliation process and is expected to pay for itself and decrease the budget deficit. Key provisions in the IRA include funding […]