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
individual income taxes
Trump Savings Accounts – Free Money from the Government
Child focused tax benefits have taken on many forms over the years. We've had child tax credits, dependent care credits, education credits, 529 … [Read more...] about Trump Savings Accounts – Free Money from the Government
How EV Credits Work
Do you plan on purchasing a new vehicle within the next ten years? If the answer is yes, and good chance it is, you want to know how EV credits … [Read more...] about How EV Credits Work
Grouping Activities to Achieve Material Participation
This week, a quick discussion of grouping activities as backdoor way to materially participate. But first a bit of background about what material … [Read more...] about Grouping Activities to Achieve Material Participation
The Qualified Family-Owned Small Business Deduction
If you own or invested in a Washington state small business, you want to know about the qualified family-owned small business deduction. And here’s … [Read more...] about The Qualified Family-Owned Small Business Deduction
Vacation Home Rental Tax Traps
You want to learn the vacation home rental tax rules if you rent, own or are considering renting or owning a second home. Here's why: Vacation home … [Read more...] about Vacation Home Rental Tax Traps
Filing Washington State Capital Gains Tax Returns
You maybe need to file a Washington state capital gains tax return with your 2022 federal tax return. Specifically, if you realized long-term … [Read more...] about Filing Washington State Capital Gains Tax Returns
How IRS Audits Work
Audit anxiety is something nearly every taxpayer has in common. But, have you ever considered how IRS audits actually work? The IRS processes … [Read more...] about How IRS Audits Work
Lottery Tax Planning for a Billion Dollar Drawing
Okay. This is silly. You’re probably not going to win. But just for fun, let’s talk about lottery tax planning for one of those giant Power Ball or … [Read more...] about Lottery Tax Planning for a Billion Dollar Drawing
A Dozen Ways to Deduct Real Estate Losses
Tax law (and especially Section 469 of the Internal Revenue Code) mostly eliminates your ability to save big on taxes using real estate. That said, … [Read more...] about A Dozen Ways to Deduct Real Estate Losses