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Island County, Washington: Your Trusted Tax Advisor for Tax Planning in the county

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Sahitya
Freelance designer
Q. I am Indian resident and I registered my company in New Mexico(Single member LLC ) in 2023. I haven't made any money should I still file for taxes?
"As an Indian resident with a single-member LLC in New Mexico, you must file tax forms, even if your company hasn't made money. Losses incurred can be carried forward to offset future income. Foreign-owned single-member LLCs are now treated as corporations for IRS reporting, not for tax payments. Contact us for more assistance."
Osvaldo ******
Home services
Q. Hi, I am reaching out to ask a question. My question is I am venturing into e-commerce and dropshipping. I currently have an LLC with my cleaning service, can I use my EIN to start an e-commerce and a dropshipping business that's not in the same industry?
Yes, you can use your LLC's EIN to start an e-commerce and dropshipping business even if they are not in the same industry. However, if you have businesses taxed differently, like a corporation and an LLC, they need separate EINs. For more information, refer to this link.
Jessica
Healthcare professional
Q. Wondering what type of business to open? LLC vs PLLC vs sole proprietorship. This will be a mobile veterinary practice in Montana. Right now it will not have any employees other than myself.
Considering your mobile veterinary practice in Montana, a PLLC may be suitable for the liability protection you need as a licensed professional. A single-member PLLC is also an option, often treated as a disregarded entity for tax purposes.
ben ******
Freelance Designer
Q. I sold on cards and coins on ebay all year from my personal collection and did not track how much I paid for the cards or coins because I honestly have no idea. How am I suppose to accurately report my inventory?
When you haven't kept track of the cost basis for items sold from your personal collection, estimating can be challenging. Make a reasonable effort to determine the cost basis by estimating the value of the items sold. Be conservative in your estimates to avoid overestimating taxable income. Consider what you paid for certain items or what their approximate value was when acquired. This will help calculate the cost of goods sold accurately.
Kimberly ********
Seller (Online or independent seller)
Q. Hi, I recently started a new career as a life insurance producer. I am new to 1099 employment and I am located in West Virginia. I want to make sure I get started on the right path for managing my own taxes. Where and how should I begin.
"As a 1099 independent contractor, you are responsible for paying income and self-employment taxes. Keep records of business income, expenses, and receipts. Consider using tools to streamline tax management. Consult with a CPA for personalized guidance."
Fatema *****
Home services
Q. My husband & I are going through a divorce. He wants to claim my first daughter as his dependent; however he made very minimal financial support to her. We all live in the same house. We will be filing separately. Can he claim her as dependent?
Based on your situation, if you have primary physical custody and provide more than half of your daughter's financial support, you are likely considered the custodial parent and can claim her as a dependent on your tax return. Hope this helps.
Sahitya
Freelance designer
Q. I am Indian resident and I registered my company in New Mexico(Single member LLC ) in 2023. I haven't made any money should I still file for taxes?
"As an Indian resident with a single-member LLC in New Mexico, you must file tax forms, even if your company hasn't made money. Losses incurred can be carried forward to offset future income. Foreign-owned single-member LLCs are now treated as corporations for IRS reporting, not for tax payments. Contact us for more assistance."
Osvaldo ******
Home services
Q. Hi, I am reaching out to ask a question. My question is I am venturing into e-commerce and dropshipping. I currently have an LLC with my cleaning service, can I use my EIN to start an e-commerce and a dropshipping business that's not in the same industry?
Yes, you can use your LLC's EIN to start an e-commerce and dropshipping business even if they are not in the same industry. However, if you have businesses taxed differently, like a corporation and an LLC, they need separate EINs. For more information, refer to this link.
Jessica
Healthcare professional
Q. Wondering what type of business to open? LLC vs PLLC vs sole proprietorship. This will be a mobile veterinary practice in Montana. Right now it will not have any employees other than myself.
Considering your mobile veterinary practice in Montana, a PLLC may be suitable for the liability protection you need as a licensed professional. A single-member PLLC is also an option, often treated as a disregarded entity for tax purposes.
ben ******
Freelance Designer
Q. I sold on cards and coins on ebay all year from my personal collection and did not track how much I paid for the cards or coins because I honestly have no idea. How am I suppose to accurately report my inventory?
When you haven't kept track of the cost basis for items sold from your personal collection, estimating can be challenging. Make a reasonable effort to determine the cost basis by estimating the value of the items sold. Be conservative in your estimates to avoid overestimating taxable income. Consider what you paid for certain items or what their approximate value was when acquired. This will help calculate the cost of goods sold accurately.

Facts and figures about
Island County, Washington

washington
population

86,857

County Population

population

Coupeville

County Seat

population

209 sq mi

County area

population

9%

Island County sales tax rate

😵‍💫 1 Washington CPA for every 300 residents results in high CPA rates

😓 19 million taxpayers missed the filing deadline last year

😨 30 million taxpayers miss deductions without the right tax expert

😣 Almost 1/2 of all Americans pay more tax than necessary

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Washington State Income Tax Rates & Brackets for 2023

The following tables represents Washington's income tax rates and tax brackets:

SINGLE FILER

Brackets

Rates

n.a

7.00%

MARRIED FILING JOINTLY

Brackets

Rates

n.a

7.00%

Filing Status

Standard Deduction Amt.

Single

$250,000

Couple

$250,000

Island county Sales Tax Rates for 2023

City

Sales Tax Rate

Tax Jurisdiction

Oak Harbor

9%

Oak Harbor

Camano Island

8.80%

Island

Coupeville

8.80%

Island

Clinton

8.80%

Island

Langley

8.80%

Island

Freeland

8.80%

Island

Greenbank

8.80%

Island

Frequently Asked Questions

How does online tax filing in Island County Washington work?

What does CPA mean in Island County Washington ?

What exactly does a Island County Washington CPA do?

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