THE
THE FOLD
THE FOLD TO SEE WHAT IS HAPPENING IN WESTERN
WASHINGTON AND AROUND THE
COUNTRY.
COUNTRY.
COUNTRY. >>> WE ARE DAYS AWAY FROM THE
TAX DEADLINE.
TAX DEADLINE. IF YOU HAVE NOT HEARD IT IS
APRIL 15.
APRIL 15.
APRIL 15. >> THERE ARE NO EXTENSIONS.
IF YOU ARE WAITING UNTIL THE
LAST MINUTE FROM MARK WHO IS A
CPA AND TAX ATTORNEY AS WELL.
>> IT IS LIKE FINAL FOUR
WEEKEND ALL OVER AGAIN.
>> MAYBE FOR CPAS.
>> WHAT IS THE BIGGEST PIECE
OF ADVICE YOU HAVE FOR PEOPLE
THAT ARE PROCRASTINATING.
>> I WOULD SAY DON'T STRESS.
IF YOU HAVE GOTTEN REFUNDS IN
THE PAST AND YOU EXPECT THE
SAME DON'T STRESS ABOUT IT.
FILE AN EXTENSION ONLINE AND
TAKE A WEEK OR TWO.
>> WHAT ARE THE BIGGEST
CHANGES IN TAX LAW THAT PEOPLE
SHOULD KNOW ABOUT?
>> HERE IN WASHINGTON WE DON'T
PAY STATE TAX SOME OF THE
BIGGEST HITS WE SEE AROUND THE
COUNTRY IS THE REDUCTION IN THE
ITEMIZED DEDUCTION. THAT IS
THE BIGGEST CHANGE.
PEOPLE ARE FREAKING OUT ABOUT
THAT.
THAT.
THAT. THEY ARE FINALLY SEEING THAT
IS AS BAD IMPACT.
HERE IN WASHINGTON WE HAVE THE
GOOD WITHOUT THE BAD.
THOSE THAT MAKE LESS THAN
$100,000 AND JUST A SMALL
FAMILY THEY WILL SEE A BIGGER
STANDARD DEDUCTION AND
PROBABLY A BIGGER REFUND.
>> SOME OF THESE PEOPLE HAVE
SIDE GATES.
SIDE GATES. IF YOU DO AND YOU ARE DOING
YOUR OWN TAXES WHAT SHOULD YOU
KNOW.
KNOW.
KNOW. >>
KNOW. >> THIS IS WHERE IF YOU ARE
NOT PREPARED FILE AN EXTENSION
BECAUSE YOU WANT TO TAKE THE
TIME TO GO BACK AND DIG UP
EVERY RECEIPT.
EVERY RECEIPT. I DO NOT CARE IF IT WAS ON A
CREDIT CARD OR CHECKBOOK OR
CASH FIND ANY RECEIPT THAT YOU
CAN RELATED TO IT.
IT IS OKAY TO PREPARE ONLINE.
IF YOU HAVE A SIMPLE RETURNED
IT IS OKAY.
I LOVE TAX SLAYER.
THEY ARE AFFORDABLE AND ONLINE.
THE FILE YOUR EXTENSION AND
START GATHERING DATA.
>> ANYTHING PEOPLE SHOULD KNOW
ABOUT IF THEY WILL BE FILING
THEIR OWN TAXES.
>> TAKE THE TIME TO CALL IN
FOR SUPPORT.
FOR SUPPORT. USE THE ONLINE SUPPORT.
IT'S OKAY TO ASK A QUESTION
AND TAKE YOUR TIME.
DO NOT RUSH.
>> A LOT OF PEOPLE USE AIR B&B
WHAT CHANGES THE GAME AND THAT
EQUATION FOR YOU.
>> THAT IS A SIDE BUSINESS.
THAT'S IMPORTANT FOR PEOPLE TO
REALIZE.
REALIZE.
REALIZE. YOU SAID YOU WERE GOING TO
START RAISING PIGS?
>> RACING.
>> RACING. >> THERE COULD BE MONEY IN
THAT.
THAT.
THAT. >>
THAT. >> IT WILL BE A DIFFERENT
SCHEDULE.
SCHEDULE.
SCHEDULE. IT'S A SCHEDULE E AND JUST AS
IF IT IS A LONG-TERM PROPERTY.
IT IS A GREAT RIDE OFF AND YOU
SHOULD BE THINKING ABOUT IT.
>> WHAT ARE SOME OTHER
DEDUCTIONS THAT MAYBE SOME
PEOPLE DO NOT KNOW ABOUT OR
THINK ABOUT?
THINK ABOUT? >> LET'S STICK WITH THE
BASKETBALL ANALOGY IF YOU ARE
JUST THINKING ABOUT WRITE-OFFS
YOU ARE IN THE LAST TWO
MINUTES OF THE GAME.
IF YOU ARE FRUSTRATED LET'S
PLAY THE OTHER 90% OF THE GAME
AND GET ENGAGED THIS YEAR SO
NEXT APRIL YOU ARE NOT
FREAKING OUT.
FREAKING OUT. A COUPLE OF LAST-MINUTE TIPS
THAT I LOVE IS PUT MONEY INTO
A ROTH IRA.
IT IS NOT A DEDUCTION BUT IT'S
A CHANCE TO GET IT IN THERE
BEFORE THE 15th AND IF YOU
WANT TO DO A TRADITIONAL IRA
IT IS OKAY.
IF YOU HAVE A 401(K) AT WORK
LET'S START PUTTING MONEY
INSIDE THAT GROWS TAX-FREE AND
COMES OUT TAX-FREE.
IF WE DON'T WANT TO CREATE MORE
TAX PAYMENTS LET'S CREATE MORE
TAX-FREE INCOME.
TAX-FREE INCOME. IF YOU ARE MAXING IT OUT AT
WORK GET INTO THE ROTH IRA AND
INVEST IN WHAT YOU KNOW BEST.
I SAW THE YOUTUBE VIDEO OF HOW
YOU CAN PUT $1 MILLION INTO A