Some thoughts on business tax planning.

If you are a cash-basis calendar year taxpayer, consider paying any outstanding deductible expenses before the end of the year. This is based on the theory that due to the time value of money, taxes deferred are cheaper than taxes paid now. If you use a credit card, it still counts as paid this year. Do not do this if you expect your incremental tax rate to go up next year. On the personal side, if you itemize but don’t normally have enough medical to exceed the 10 percent (7.5 percent if you or your spouse are over 64) AGI limit and you have unusually high uninsured medical expenses this year, getting them paid off, even if you have to use credit, might benefit you. This approach is also often popular with your care providers. read more »

In February 2012, the Growth Management Hearings Board of Central Puget Sound stated in footnote 11 of their ruling,”…Silverdale is a densely developed commercial hub, already thoroughly urban with urban services. The GMA contemplates that cities should provide governmental services in urban areas. RCW 36.70A.110: “In general, cities are the units of local government most appropriate to provide urban governmental services.” Thus incorporation of Silverdale is appropriate.”

Silverdale is the only unincorporated Regional Growth Center recognized by the Puget Sound Regional Council. It is comprised of leaders from over 80 entities, including four counties, their cities and towns, ports, state, and local transportation agencies and tribal governments. This council was established to assure coordination and compliance of the Growth Management Act (GMA) and comprehensive planning within a four-county area (King, Pierce, Snohomish and Kitsap). read more »