Many businesses will benefit this year from the new 20 percent qualified business income deduction. This deduction applies to "pass-through entities:" partnerships, S-corporations, sole proprietorships, and most LLCs. However, if your taxable income from all sources exceeds $157,500 for an individual or $315,000 for a married couple filing jointly, your 20 percent deduction could be phased out. For these higher-income business owners, the deduction is limited to your share of your most advantageous calculation:

• 50 percent of the W-2 wages your company pays OR
• 2.5 percent of the purchase price of business fixed assets (with some limitations), plus 25 percent of W-2 wages paid.

The above assumes you are not a "Specified Service Trade or Business," but few construction-related companies are.

PRO TIP: If your company files a partnership return, beware the guaranteed income trap. Guaranteed income paid to the partners is not considered pass-through income eligible for the 20 percent deduction. Neither is the S-corp owner's W-2 pay, but at least that counts toward the 50 percent/25 percent W-2 wages in the above calculations, so it can help the owner qualify for the 20 percent deduction.

For more information, consult your CPA. There’s still time for last-minute tax strategies involving owner payroll, paying a spouse, or retroactive S-corp elections, among others.

Brooke Witt is a CPA at Duncan Witt CPA Group PLLC, a Bothell-based accounting firm specializing in tax advice for families and small businesses in Snohomish and King counties looking for someone to trust. For high-quality, comprehensive accounting and tax services, visit their website or reach out to them at 425.501.9000.

Is 2017 leaving you black and blue? You're in luck!

And slightly ahead of the curve, too. It so happens that black (in many iterations) and blue are the colors predicted to trend in 2018, according to various paint entities as part of the companies' prestigious color of the year predictions.

Each year, beginning in fall, several paint companies, fashion entities, and design websites begin to predict what they see as the colors that will dominate the various landscapes of the next year. Last year, it was Pantone 15-0343, a lovely yellow-green shade that "evokes the first days of spring." The Pantone Color Institute, which calls itself the "global color authority," may have the final say when all things are said and done, but that isn't stopping companies like PPG Paints, Olympic Paint, Glidden, and Behr from throwing in their hues of choice.

Specifically, PPG Paints has backed their Black Flame concoction, a lighter black with indigo tones launched back in June. Black Flame was the unanimous choice to become the world's "new neutral" by 20 leading color experts around the globe (think secret underground meetings with weird chants and robes).

While the chants and robes may not actually exist, the opinions of opinion makers certainly do. A company's paint color can mean big business, which is a large part of why so many entities throw their choices into the ring and announcements are highly anticipated. At the same time PPG was showing off Black Flame (it's like Zoolander's Blue Steel but EVEN MORE INTOXICATING), Olympic Paint revealed Black Magic, an "often misunderstood neutral" primed to blot out the easy-going grays and pinks of 2017.

Says Dee Schlotter, senior color marketing manager, Olympic Paint: "In past years, consumers have gravitated toward open, airy spaces that are thought to leave room for exposure. However, in the current day, consumers often feel uneasy, restless, or like their privacy is being invaded, so they crave deep, comforting colors that offer a welcomed escape from the chaos of daily life. Olympic paint's Black Magic perfectly satisfies consumers' desire for privacy."

Schlotter continues, "Black Magic can easily make a statement in any home on a front door, window trim, kitchen cabinets, exposed shelving, or even sliding barn doors. It works especially beautifully in a dining room with a bold light fixture."

Not to be outdone, Glidden put its own spin on black, announcing their Deep Onyx as their color of the year. Why? According to Color Marketing Manager Misty Yeomans, "Just like a little black dress, Deep Onyx is a classic, timeless staple." The hue is meant to give off a "less is more" attitude that reflects a minimalist style inside the homes of those in the know.

Stepping out of the shadows is Behr, who boldly announced their first-ever color of the year as In the Moment, a blue-green blend that "Speaks to our society's desire to disconnect and be present," according to Erika Woelfel, vice president of color and creative services at Behr. Grand Central Station commuters on August 9 were certainly living In the Moment, as they were witness to Behr's blue via a virtual reality color video and chats with the company's color experts as they strolled through different rooms of a makeshift home.

While we could talk about trends until we're blue in the face, we'll await the final verdict on which colors clients will consume in 2018.

One thing does still plague the mind, however: How does one become a color expert, exactly?

By MBAKS Senior Policy Analyst Allison Butcher

The Office of Financial Management’s (OFM) annual population projections have been released, showing strong continued growth in Washington. The 2020 estimates indicate Washington’s population grew to more than 7.6 million people as of April 1. The Puget Sound region’s population, including King, Snohomish, Pierce, and Kitsap counties, grew by more than 60,800. According to OFM, most of the population change occurred before the COVID-19 crisis.

The Builder's Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, State of the Cities Data Systems, Office of Financial Management, and the Washington State Employment Security Department.

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