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Online tutorial on getting your tax dollars back to Whidbey!
For any business, paying taxes is a necessary evil. We all hate to see our money leave our bank accounts, but rather than put our businesses at risk, and getting on the bad side of the tax collector, we sadly do it, and hope our tax dollars benefit us, our state and town. But, do they? Or do they as much as we wish they would? The Coupeville Historic Waterfront Assoc. can at least help bring B&O tax dollars back to Coupeville, directly from Olympia.
Being one of the Washington Trust and Historic Preservation’s Main Street program awardees, your contributions to CHWA allow you a special Washington state B&O tax credit. The Main Street B&O tax credit incentive program allows businesses who pay Washington State B&O taxes ‘online’ to donate directly to us and have 75% of that donation as a B&O tax credit the following year. One, you get an eligible federal tax deduction for the donation for this year and next year you get 75% of it in a B&O tax credit. No brainer, right? We hope you think so.
Any business in the state of Washington can benefit Coupeville! Make a donation, claim it, and then take a 75% tax credit next year. Talk to your bookkeeper/CPA, or yourself if that’s your job too, and weigh the balance of a great tax deal. Sign up for e-file, it’s nerve and cost saving, efficient and pain free, and it’ll help support Coupeville. Online tutorial on getting your tax dollars back to Whidbey!
CHWA’s intentions for these dollars, returned directly from Olympia, includes, but is not limited to, town improvements, enhanced services, and providing historical and economic support to Coupeville today and into the future. The state passed legislation in 2005 to afford all businesses in Washington this B&O/Main Street benefit when they make a donation to us. We hope you’ll take advantage of it.
In 2011, $1.5 million in tax credits is available statewide. CHWA can receive up to $133,333 in contributions. Taxes are returned in dollars each year to towns across Washington on afirst-come, first-served basis as of January 1. Help us be first served sign up for e-file and make a donation to the Coupeville Historic Waterfront Association today.
DEPARTMENT OF REVENUE CONTACT: Tiffany Volkman (360) 902-7126 or email email@example.com