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LLC vs. S Corp vs. Sole Proprietorship in Washington (2026 Guide)

Three business structure paths leading to an organized bookkeeping desk

Compare sole prop, LLC, S corp, and C corp for a Washington business: liability, federal tax, B&O, Washington payroll costs, and when an S corp may pay off.

Contractor vs. Employee in Washington: IRS and State Tests

Employee payroll system and independent contractor business tools on opposite sides of a worker classification decision

A 1099, contract, or business license does not decide worker status. Compare the IRS test with Washington unemployment, workers’ compensation, and wage rules.

FTX, Celsius, and Crypto Exchange Bankruptcy Tax Treatment

Digital assets frozen in an exchange vault followed by a creditor claim and partial recoveries

A frozen crypto exchange account is not an automatic tax loss. Track original basis, the bankruptcy claim, recoveries, and the closing event.

Are Staking Rewards Taxable? What Rev. Rul. 2023-14 Says

Staking rewards passing through a dominion and control checkpoint into a fair market value tax ledger

Staking rewards are generally ordinary income at fair market value when a cash-method taxpayer gains dominion and control over the rewarded units.

Crypto Cost Basis Methods: FIFO, HIFO, and Specific Identification

Organized cryptocurrency tax lots moving into a wallet-based filing system

Compare FIFO, HIFO, and specific identification under current IRS digital-asset rules, including timely lot selection and wallet-by-wallet basis.

How to Calculate Crypto Capital Gains and Losses

Cryptocurrency acquisition, sale proceeds, fee, and gain or loss arranged as ledger cards

Calculate crypto capital gains using amount realized, adjusted basis, fees, lot identification, and the correct short-term or long-term holding period.

Common Problems With Crypto Tax Software and How to Review Them

Review crypto tax software for missing purchase history, duplicate imports, transfer errors, prices, and balance differences before relying on tax reports.

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