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wealth tax

Changing Your Washington State Residency

September 2, 2025 By Stephen Nelson CPA

Changing your Washington state residency may be a tax planning gambit you need to consider

Okay, first point, if you want to change your residency or domicile from Washington state to some other state? That’s a question you answer with the … [Read more...] about Changing Your Washington State Residency

Filed Under: Estate tax, wealth tax

The Washington Estate Tax Income in Respect of Decedent Problem

August 11, 2025 By Stephen Nelson CPA

Washington state's estate tax hits income in respect of a decedent particularly hard. Especially when an estate pays federal estate taxes.

Washington state’s estate tax hits only a small percentage of the state’s decedents. (The threshold for paying tax is $3,000,000, and though the data … [Read more...] about The Washington Estate Tax Income in Respect of Decedent Problem

Filed Under: Estate tax, personal finance, wealth tax

Planning for the 35% Washington State Estate Tax

June 3, 2025 By Stephen Nelson CPA

Washington state estate tax pushes wealthy residents to consider estate planning options.

Washington state levies an estate tax of up to 35% on estates of decedents dying on or after July 1 2025. That new rate is by far the highest estate … [Read more...] about Planning for the 35% Washington State Estate Tax

Filed Under: Estate tax, wealth tax

Washington’s Qualified Family-Owned Business Interest Estate Tax Deduction: Updated for 2025

May 21, 2025 By Stephen Nelson CPA

Washington state qualified family-owned business interest deduction

Washington state taxes the estates of high-net-worth residents and high-net-worth nonresidents who own property in the state. The tax rates start at … [Read more...] about Washington’s Qualified Family-Owned Business Interest Estate Tax Deduction: Updated for 2025

Filed Under: entrepreneurship, Estate tax, wealth tax

That Nearly Secret IRS Personal Wealth Study

October 1, 2021 By Stephen Nelson CPA

Nearly secret IRS personal wealthy study an elephant in the room?

Last spring, some fascinating, nearly secret IRS personal wealth information slipped out into public view. And, just so there’s not confusion, I am … [Read more...] about That Nearly Secret IRS Personal Wealth Study

Filed Under: Estate tax, personal finance, wealth tax

Planning for the Warren Wealth Taxes

November 8, 2019 By Stephen Nelson CPA

Planning for Warren wealth tax a balancing act

Normally, we don’t blog about proposed tax legislation. Especially something like Elizabeth Warren’s wealth tax proposals. She hasn’t even won her … [Read more...] about Planning for the Warren Wealth Taxes

Filed Under: individual income taxes, investment, personal finance, wealth tax

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Featured Posts

Combine Section 1031 like-kind exchanges with Section 168(k) bonus depreciation to create large deductions.

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

100% bonus depreciation creates new opportunities for investors and entrepreneurs

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

the new Washington state professional services sales tax starts October 1, 2025.

Washington State Professional Services Sales Tax

Starting October 1, 2025, Washington State levies a sales tax on many, maybe most, business professional services. Thus, if you’re a business … [Read More...] about Washington State Professional Services Sales Tax

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