Key Takeaways Washington has a unique capital gains tax despite having no state income tax. Understanding how the system works is essential for investors and business owners who may be affected. Not all assets are…
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Washington’s Millionaire Tax: Current Status, Who It Affects, and Strategies for High Net Worth Residents
Key Takeaways Washington’s proposed Millionaire’s Tax would impose a 9.9% tax on household income over $1 million starting in 2028, significantly impacting high earners, business owners, and those with large liquidity events. Even if passed,…
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Washington State Inheritance Tax: A Comprehensive Guide (2026 Update)
Editors Note: This post has been updated to reflect Washington estate tax legislative changes effective July 1, 2025, as well as inflation-adjusted exemption amounts and federal tax rules applicable for 2026. Key Takeaways: Washington state…
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What You Need to Know About RMDs
Over the years, a handful of changes have been made to the IRS-mandated required minimum distribution (RMD) rules. When someone is not familiar with how RMDs work, it can be easy to miss a required…
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Using Qualified Charitable Distribution (QCDs) to Maximize Charitable Donations
The IRS has carved out a way for individuals over age 70.5 to make certain IRA distributions to charities that can be excluded from taxable income. We define this as a Qualified Charitable Distribution (QCD)….
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