The federal income tax sometimes creates a marriage penalty. But usually not. Most federal tax brackets, standard deductions and adjustments for … [Read more...] about Washington Millionaires Tax Marriage Penalty
individual income taxes
Washington’s New Millionaires Tax Statistics
Washington's new 9.9% millionaires tax doesn't take effect until January 1, 2028, with the first returns and payments due in April 2029. That … [Read more...] about Washington’s New Millionaires Tax Statistics
Washington’s New Millionaire Tax Quietly Limits Charitable Deductions
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
Powerball Lottery Tax Planning
Note: Updated on June 18, 2026 for Senate Bill 6347 which was signed March 24, 2026. A while back I talked about Lottery Tax Planning for a Billion … [Read more...] about Powerball Lottery Tax Planning
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