Key Takeaways: One notable tax benefit of inheriting a home is the step-up in basis. Instead of using the home’s original purchase price, tax basis is generally reset to its fair market value on the…
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Moving to Washington for Retirement? A Tax and Estate Planning Checklist Before You Change Residency
Key Takeaways: Washington has no state income tax on wages, Social Security, or pension income, but does have its own estate tax (separate from the federal estate tax) and capital gains tax that may impact…
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Inheriting Stocks in Washington: Step-Up in Basis and Tax Rules Explained
Key Takeaways: Inherited stocks and taxable investments generally receive a step-up in basis to fair market value at the date of death, which eliminates capital gains accumulated during the original owner’s lifetime. Washington’s community property…
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Is Washington a Good State to Retire In?
Key Takeaways: Washington offers retirees some genuine advantages, but like any state, it comes with trade-offs that depend heavily on your priorities and financial situation Your zip code matters more than you might expect: costs,…
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Washington’s Millionaire Tax: Current Status, Who It Affects, and Strategies for High Net Worth Residents
Note: This article has been updated since Washington Senate Bill 6346 (aka The Washington Millionaire’s Tax) passed a vote in the House of Representatives on March 10th, 2026. Key Takeaways: Washington’s proposed Millionaire’s Tax would…
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