News

Washington’s New Capital Gains Tax Is Being Enforced

Posted February 24, 2023

The 2021 Washington State Legislature enacted a new 7% excise tax on long-term capital gains, effective for sales or exchanges of capital assets on or after January 1, 2022. Although the tax is being challenged as an unconstitutional income tax under the state constitution, the Washington Supreme Court has allowed the tax to be enforced […]

Inflation Reduction Act: Costs and Benefits for Real Estate & Construction

Industry Tax Tips

Posted February 13, 2023

Introduction The Inflation Reduction Act’s (IRA’s) expansion of key energy efficiency tax incentives – such as the 179D energy efficient commercial buildings deduction and the 45L new energy efficient home credit – is anticipated to have a significant impact on the real estate and construction industry. The legislation could provide a significant financial boost for […]

A Look Ahead for Life Sciences: Predictions for the Industry in 2023

Industry

Posted February 8, 2023

The life sciences industry has seen monumental change over the past few years because of the COVID-19 pandemic, low cost of cash and the resulting spike in investment. At the same time, rising inflation, low valuations and economic instability have recently led to uncertainty and unpredictability within the industry in the last year. However, life […]

Ask These Questions Before Pursuing An M&A Transaction

Tax Tips

Posted February 1, 2023

For life sciences companies, M&A and collaborations are a key strategy for growth, building product pipelines and getting products to market as quickly as possible. According to BDO’s Life Sciences CFO Survey, 33% of CFOs planned to pursue M&A in 2022, up 25% from the 2021 survey. With valuations coming down from record highs and […]

Washington Supreme Court Okays Collection Of New Capital Gains Tax

Legislation

Posted January 26, 2023

The Washington Supreme Court on November 30 issued a one-page order that stayed a lower-court ruling declaring the state’s capital gains tax unconstitutional. As a result of the order, the state’s revenue agency can move forward with collection of the tax. However, the stay does not resolve the questions regarding the tax’s constitutionality, and the […]

VSH Promotes Madison Price, CPA, MPAcc to Senior Tax Manager

Staff Update

Posted January 25, 2023

VSH CPAs, a leading accounting and consulting firm with offices in Whatcom and Skagit counties, is pleased to announce the promotion of Madison Price, CPA, MPAcc from Tax Manager to Senior Tax Manager. Madison has spent the entirety of her professional accounting career at VSH, starting as an intern in 2015. She graduated with a […]

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

Legislation

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 Senior Technical 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 Senior Technical 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. […]

Featured Posts

IRS Rules Stock Contributions Will Not Result in Deemed Dividends or Application of Gift Tax

The Joys of Home Ownership: Balancing Financial Support and Tax Consequences with Real Estate Wealth Transfer Strategies

TCJA Provisions Set to Sunset After 2025: What You Need to Know

Washington’s New Capital Gains Tax Is Being Enforced

Inflation Reduction Act: Costs and Benefits for Real Estate & Construction

A Look Ahead for Life Sciences: Predictions for the Industry in 2023

Ask These Questions Before Pursuing An M&A Transaction

Washington Supreme Court Okays Collection Of New Capital Gains Tax

VSH Promotes Madison Price, CPA, MPAcc to Senior Tax Manager

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

VSH Promotes Kyle Powers, CPA to Senior Technical Tax Manager

VSH Promotes Natalie Trudell, CPA to Senior Tax Manager

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

Holiday Office Schedule

2022 Year-End Tax Planning for Businesses

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