top of page
  • Writer's pictureSteven J. Rosenthal, CPA, CFP, JD

Tax Considerations for WA State Small to Medium Sized Businesses (SMBs) in 2021

Written by tax expert, Steven Rosenthal, JD, CPA, MBA, LLM, CFP®

Tax issues can give even the most well-prepared individual a headache every single year. Imagine, then, how stressful the situation is for business owners as they face unique circumstances and complex regulations. This year, there are even more pressing challenges and situations to consider given the pandemic, a new federal administration, and changing tax laws. As with all changes, however, there are potential opportunities and new routes of success waiting to be discovered—even in the realm of taxes.

Small to medium-sized businesses (SMBs) need to address several different tax issues to maximize after-tax income and maintain high business valuations. The issues raised in these blogs should be of general interest to SMBs and be of particular interest to SMBs based in Washington State. SMBs will be able to save taxes now, prevent paying more taxes later, and maintain high valuations upon sale of their businesses by addressing these issues. Although these blogs illustrate some common issues, Fulcrum Wealth Advisors are available to provide advice regarding any tax questions you have regarding your business.

These blogs were written by our tax expert, Steven Rosenthal. Please consult your tax adviser to determine how these issues affect your specific tax planning. If you don’t have a tax adviser or you need a second opinion, you can book a complimentary call with Steve here.

Due to proposed legislative changes in capital gains taxes at both the federal and Washington State level, buyers and sellers of SMBs would likely save significant taxes if they get their deals done this year.

Failure to discover tax risks can cost you thousands at closing. Here’s how to preserve your maximum business valuation.

Small to medium-sized businesses can recognize tax benefits or minimize tax risks using the following tips.


Steven Rosenthal, JD, CPA, MBA, LLM, CFP®, has 30 years of experience providing tax research, planning, and audit defense for publicly traded companies such as AT&T, eBay, PayPal, Ericsson, and Expedia. Today, Steve serves as Senior Tax Expert at Fulcrum Wealth Advisors where he specializes in business valuation and tax strategies for small and mid-size businesses seeking to maximize their “after-tax” returns.

Fulcrum Wealth Advisors provides financial guidance and plans for business owners seeking a strong foundation for both family and business finances that ultimately achieves life and legacy goals. Rise above the complexity and create a path for what’s next with our experienced advisor team. Learn more about our business financial planning services.

Investment advisor representative of, and securities and investment advisory services offered through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker/dealer, and Registered Investment Advisor. Cetera Advisor Networks is under separate ownership from any other named entity. Additional Investment advisory services are offered through Fulcrum Wealth Advisors, LLC. Fulcrum Wealth Advisors LLC is a registered investment advisor in the State of Washington. / IRS Circular 230 Disclosure: Fulcrum Wealth Advisors does not provide legal, tax, or accounting advice. Any statement contained in this communication (including any attachments) concerning U.S. tax matters is not intended or written to be used, and cannot be used, to avoid penalties imposed on the relevant taxpayer. Clients of Fulcrum Wealth Advisors should obtain independent tax advice based on their particular circumstances. Tax services offered separately from Cetera Advisor Networks LLC, which does not provide tax or legal advice.


Related Posts

See All


bottom of page