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Bring a photo ID, Social Security numbers for everyone on the return, all income forms (W-2s, 1099-NEC, 1099-K, 1099-INT, 1099-DIV, 1099-B, 1099-R, SSA-1099, K-1s), last year's tax return, and records of deductions such as mortgage interest (Form 1098), property taxes, charitable donations, childcare costs, education expenses (Form 1098-T) and health insurance forms (1095-A). If you are self-employed, bring your income and expense records too. We send a personalized checklist when you book.

For most people, the federal Form 1040 is due April 15. If April 15 falls on a weekend or holiday, the deadline moves to the next business day. If you need more time to file, you can request an extension.

Yes. Filing Form 4868 gives you an automatic six-month extension to file, usually to October 15. An extension gives you more time to file, not more time to pay. Any tax you owe is still due by the April deadline, so we will help you estimate and pay it to avoid penalties and interest.

No. Washington does not have a personal state income tax on wages, so most Washington residents only file a federal return. Washington does have a capital gains tax that can apply to certain large long-term capital gains, and if you earned income in another state you may need to file there. We will tell you exactly what you need to file.

Yes. We prepare federal returns and state returns for all 50 states, including part-year and multi-state returns if you moved or earned income in more than one state.

Schedule C is the form sole proprietors and single-member LLC owners use to report business income and expenses on their personal 1040. Your net profit is subject to income tax and to self-employment tax (Social Security and Medicare). Keeping good records of your business expenses can lower both.

Yes. Gig and app-based income is self-employment income, even if you did not receive a 1099. You report it on Schedule C and can deduct business expenses such as mileage, phone costs and supplies. Tracking your mileage throughout the year is one of the biggest ways to lower your tax bill.

Yes. We prepare prior-year returns and help you get caught up. Filing as soon as possible helps limit penalties and interest, and if you are owed a refund you generally have three years from the original due date to claim it.

You can correct it by filing an amended return on Form 1040-X. We review your original return, prepare the amendment and explain whether you will owe more or receive an additional refund.

Do not ignore it, and do not panic. Most IRS letters are about a specific item, such as a missing form or a math adjustment, and they have a response deadline. Bring or send us the letter and we will explain what it means and help you respond.

The IRS typically issues most refunds for e-filed returns with direct deposit within about 21 days. Returns claiming certain credits, paper returns and returns flagged for review can take longer. E-filing with direct deposit is the fastest option.

It depends on how your business is set up. Sole proprietors and single-member LLCs usually file Schedule C with their 1040. Partnerships and multi-member LLCs file Form 1065. S corporations file Form 1120-S. C corporations file Form 1120. We prepare all of them.

For calendar-year businesses, partnership returns (Form 1065) and S corporation returns (Form 1120-S) are generally due March 15. C corporation returns (Form 1120) are generally due April 15. Schedule C is filed with your personal return, usually by April 15.

Yes. Most businesses can file Form 7004 for an automatic extension of time to file, generally six months for partnerships and S corporations. As with personal returns, an extension does not extend the time to pay any tax owed.

Partnerships, multi-member LLCs and S corporations generally do not pay income tax themselves. Instead, each owner receives a Schedule K-1 showing their share of income, deductions and credits, which they report on their personal return. That is why getting the business return done on time matters for the owners' personal returns.

Washington's Business and Occupation (B&O) tax is a tax on gross receipts, not profit, for most businesses operating in the state. Rates depend on your business classification, and some small businesses qualify for credits that reduce or eliminate it. B&O is filed with the Washington Department of Revenue along with sales tax if you collect it.

Most states require businesses that sell goods, and in some states certain services, to collect and remit sales tax, and the rules differ by state. In Washington, retail sales generally require it. Restaurants, retail stores and car dealerships almost always do. The rate depends on the location of the sale. We help you register, set up collection and file your returns on time.

Ordinary and necessary business expenses are generally deductible, such as rent, supplies, equipment, software, advertising, business insurance, professional fees, business mileage and a portion of a home office if you qualify. Some expenses, like meals, are only partly deductible. Good records are what make a deduction hold up.

Yes. Partnerships and corporations must file even if they had no income or a loss. A business loss may also reduce your other taxable income or carry forward to future years, so filing correctly can save you money later.

Tax preparation reports what already happened. Tax planning happens during the year, while you can still make decisions that lower your tax, such as choosing the right business structure, timing income and expenses, setting owner pay, and making retirement contributions.

Possibly. An S corp election can reduce self-employment taxes once your business profit is high enough, because owners take a reasonable salary and receive the rest as distributions. It also adds payroll and extra filing requirements. We run the numbers for your situation and tell you whether it makes sense.

If you have income without withholding, like self-employment, rental or investment income, you generally need to pay estimated taxes four times a year. For most people the federal due dates are April 15, June 15, September 15 and January 15 of the following year. Missing them can lead to underpayment penalties.

Common strategies include choosing the right entity, deducting every legitimate business expense, retirement plans such as a SEP-IRA or Solo 401(k), the qualified business income deduction where available, timing large purchases, and hiring family members properly. The right mix depends on your numbers, which is what a planning session is for.

Before the year ends. Many of the most valuable moves must be made by December 31. Ideally we review your numbers at least once mid-year and again in the fall, then adjust your estimated payments to match.

Yes. Business vehicles and equipment may qualify for depreciation deductions, sometimes taken largely in the first year. The rules depend on the asset, its business use and current law, so talk to us before you buy so you can time the purchase well.

Most small businesses start as an LLC because it is simple, flexible and protects your personal assets from business debts when maintained properly. A corporation may make sense if you plan to raise outside investment or issue stock. An LLC can also elect S corp tax treatment later. We help you choose based on your goals and taxes.

You need a unique business name, a registered agent with a Washington address, and to file a Certificate of Formation with the Washington Secretary of State. After that you will typically get an EIN from the IRS, register with the Washington Department of Revenue for a business license, and set up any city licenses. We handle these steps for you.

Yes. We form LLCs and corporations in all 50 states. Each state has its own filing, fees, registered agent requirement and annual report rules, and we handle them for the state you choose. We can also help register an existing company to do business in additional states.

An Employer Identification Number (EIN) is your business's federal tax ID. You need one if you have employees, operate as a partnership or corporation, or open a business bank account, and most LLCs get one. It is free from the IRS, and we can obtain it as part of your setup.

Most businesses need some form of state or local license, and the rules vary by state and city. In Washington, the state uses a Business Licensing Service through the Department of Revenue, and many cities, including Tukwila and Seattle, require their own city business license or endorsement as well. Some industries need additional state licenses.

Restaurants typically need a state business license, a city license, a food establishment permit from the local health department (Public Health Seattle and King County in our area), food worker cards for staff, and possibly a liquor license from the Washington State Liquor and Cannabis Board. Building, fire and signage permits may apply to your space. We help you map out and file what you need.

Yes. Vehicle dealers in Washington are licensed through the Department of Licensing. Requirements typically include a business entity, a qualifying business location, a surety bond, insurance and a state business license. We help prepare the entity, filings and coverage so your application is complete.

Typically a business entity, an EIN, a Washington business license with a reseller permit if you buy goods for resale, a city license, sales tax registration and the right insurance for your storefront. If you sell regulated products, additional licenses may apply.

Washington LLCs and corporations must file an annual report with the Secretary of State to stay active, along with business license renewals, B&O and sales tax returns, and federal tax returns. Missing these can lead to penalties or administrative dissolution. We track your deadlines so nothing slips.

Online state filings are often processed within a few business days, and an EIN can usually be issued the same day it is requested. Licenses and permits vary: some are quick, while health permits and dealer licenses can take several weeks. Starting early is the best way to open on schedule.

Accurate books show you whether you are actually making money, make tax time faster and cheaper, help you get loans and leases, and protect you if you are ever audited. Most business owners find it costs less than the time and missed deductions of doing it themselves.

Recording and categorizing your transactions, reconciling your bank and credit card accounts, and preparing monthly financial statements such as a profit and loss statement and balance sheet. Your books stay ready for tax season all year.

Depending on your business, quarterly filings can include estimated income tax payments and state excise tax returns such as B&O and sales tax, which may be due monthly, quarterly or annually based on your volume. We file on time and remind you of payments before they are due.

Yes. We do clean-up and catch-up bookkeeping, working through past months to get your records accurate, then keep them current going forward.

We work with common bookkeeping software such as QuickBooks. If you already use a system, we can usually work with it. If you do not have one, we will help you choose and set it up.

A good rule of thumb is to keep tax returns and supporting records for at least three years, and longer in some situations, such as seven years for certain losses and as long as you own property or equipment for asset records. Employment records have their own rules. When in doubt, ask us before discarding anything.

Our commercial insurance is available for Washington businesses. Most businesses start with general liability, which covers claims of injury or property damage to others. Depending on your business, you may also need commercial property coverage, a business owner's policy, commercial auto, professional liability or an umbrella policy. Landlords, lenders and licensing agencies often require specific coverage too.

Commercial insurance is currently available for Washington businesses only. Our tax, formation and bookkeeping services are available in all 50 states.

General liability covers claims that your business caused bodily injury or property damage to someone else, such as a customer slipping in your store, along with related legal costs. It is the foundation of most business insurance programs.

A BOP bundles general liability and commercial property coverage, often with business interruption coverage, into one package. For many small businesses like retail stores and restaurants, it is a cost-effective way to get core protection.

If your business owns vehicles, or you or employees use vehicles mainly for business, you likely need commercial auto coverage. Personal auto policies often exclude business use. Car dealerships have additional coverage needs for inventory and test drives.

Washington is one of a few states where most employers must get workers' compensation through the state Department of Labor and Industries (L&I) rather than a private insurer. If you have employees, you need to register with L&I. We can help you get set up and make sure the rest of your coverage fits around it.

Restaurants commonly carry general liability, commercial property, business interruption, liquor liability if they serve alcohol, and equipment coverage, plus workers' comp through L&I for employees. Many landlords require proof of coverage before you open.

It depends on your industry, location, revenue, number of employees, claims history and the limits you choose. The best way to know is to request a quote. We will compare options and explain what each policy covers.

Yes. We review your existing policies to look for coverage gaps, outdated limits or overlap, and let you know if there are better options for your business today.

Our office is in Tukwila, Washington. We work with clients in all 50 states for tax preparation, tax planning, business formation and bookkeeping. Commercial insurance is available for Washington businesses.

Yes. We prepare taxes, form LLCs and corporations, and provide bookkeeping for individuals and businesses in all 50 states. The only service limited to Washington is commercial insurance.

Call us at 253-335-9649, email info@kaplunfinancial.com, or send a message through the contact form. Tell us what you need help with and we will schedule a consultation.

Both. We help people who are just starting out, from choosing a structure and forming the company to getting licenses, and we work with established businesses that need taxes, bookkeeping or insurance handled.

Yes, and we recommend it. When the same team prepares your business and personal returns, everything lines up, including K-1s, owner pay and estimated payments.

Pricing depends on the service and the complexity of your situation. We explain your costs up front after the consultation, before any work begins, so there are no surprises.

Contact us and we will let you know the best way to securely send your documents.

We work with businesses in all 50 states, including restaurants, car dealerships, retail stores, contractors, startups, partnerships, corporations and self-employed professionals.