Posts Tagged ‘tax’
Five Tax-Planning Tips for Retirees
There’s a common misconception that, when you retire, your tax bills shrink, your tax returns become simpler and tax planning is a thing of the past. That may be true for some, but many people find that the combination of Social Security, pensions and withdrawals from retirement savings accounts increase their income in retirement and may even push…
Read MoreFunding Long-Term Care Expenses: What Are Your Options?
Few things can derail your estate plan as quickly as unanticipated long-term care (LTC) expenses. Most people will need some form of LTC — such as a nursing home or assisted living facility stay — at some point in their lives. And the cost of this care is steep. According to a 2021 survey by…
Read MoreAnswers to Your Questions About Picking an Executor
Your executor is responsible for handling the final details of your estate, such as paying off debts and distributing whatever is left to the rightful heirs and beneficiaries. It can be a difficult job if the person doesn’t have the skills necessary to handle it. Here are answers to some of the commonly asked questions…
Read MoreIs an F Reorganization Right for Your Corporation?
When approaching a major junction in a company’s life cycle — such as implementing a succession plan or selling the business — corporate business owners may want to consider a tax-efficient restructuring. An F reorganization might be an option. In many cases, it’s used to help preserve tax attributes, optimize the transaction or create a…
Read MoreWhy Filing a Tax Return Extension Can Be a Smart Move
As the April tax deadline (or May 1st deadline for many taxpayers in Washington this year) approaches, many taxpayers feel pressure to file quickly—sometimes before all information is complete. While filing early works well for some, requesting a tax return extension can be a prudent and strategic decision for most. An extension is not a…
Read MoreWashington State’s New Luxury Motor Vehicle Sales Tax
Client Alert – Effective January 1, 2026 Beginning January 1, 2026, Washington State imposes a new luxury motor vehicle sales tax on high-value vehicle purchases and leases. Enacted under Engrossed Substitute Senate Bill (ESSB) 5801, the tax applies in addition to existing state and local sales taxes and significantly increases the cost of acquiring certain…
Read MoreAvoid Common Equipment Buying Mistakes: A 5-Step Guide for Businesses
Choosing the right entity for holding investment real estate can significantly impact your taxes. Discover how SMLLCs provide both simplicity and security.
Read MoreUnlock Tax Savings and Liability Protection: Why Single-Member LLCs Are Key for Real Estate Investors
Choosing the right entity for holding investment real estate can significantly impact your taxes. Discover how SMLLCs provide both simplicity and security.
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