If you’re a taxpayer likely affected by Washington’s new “millionaire tax?” Or you run a charity in Washington state? Yeah. You want to understand how … [Read more...] about Washington’s New Millionaire Tax Quietly Limits Charitable Deductions
Sleeper Material Participation Rules for Short-Term Rental Investors
Short-term rental investors often know the first three material participation rules—more than 500 hours, substantially all the hours, and 100 hours … [Read more...] about Sleeper Material Participation Rules for Short-Term Rental Investors
The New Washington Millionaires Tax
The Washington legislature recently passed a new “millionaires tax.” Governor Ferguson signed the bill yesterday. Thus, starting in 2028, high-income … [Read more...] about The New Washington Millionaires Tax
The Tax-Inclusive Gift Strategy Calculator
If you’re a Washingtonian who worries about estate taxes? You should know paying gift tax can reduce estate tax. And maybe more than you might … [Read more...] about The Tax-Inclusive Gift Strategy Calculator
Washington State Millionaires Tax Residency Rules
The proposed Washington state millionaires’ 9.9% income tax comes with residency rules. And some taxpayers will really want to understand those … [Read more...] about Washington State Millionaires Tax Residency Rules
Exporting Assets Avoids Washington State’s 35% Estate Tax
The clean, nuclear way to avoid Washington state's new 35% estate tax is change domicile. (Something we've discussed here: Changing Your Washington … [Read more...] about Exporting Assets Avoids Washington State’s 35% Estate Tax
Powerball Lottery Tax Planning
A while back I talked about Lottery Tax Planning for a Billion Dollar Drawing. And what I said in the earlier article still stands... But the recent … [Read more...] about Powerball Lottery Tax Planning
When Material Participation Really Starts (It’s Earlier Than Most People Think)
Material participation sits at the heart of many powerful tax strategies. Whether you’re running a small business, flipping houses, managing a … [Read more...] about When Material Participation Really Starts (It’s Earlier Than Most People Think)
Bonus Depreciation and 1031 Exchanges: A Hidden Opportunity
Real estate investors know about bonus depreciation. They also know about 1031 like-kind exchanges. But not everyone realizes that the two rules can … [Read more...] about Bonus Depreciation and 1031 Exchanges: A Hidden Opportunity
The Section 168(k) Bonus Depreciation Purchased Requirement
You can get 100% bonus depreciation on tangible personal property assets you purchase and place into service after January 19, 2025. That seems … [Read more...] about The Section 168(k) Bonus Depreciation Purchased Requirement