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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Comparing Tax Proposals from the 2024 Election: How Harris and Trump’s Platforms Might Impact You
As the 2024 election approaches, tax policy is once again at the forefront of debate, with the potential to affect millions of Americans. We are currently in an era of historically low tax brackets due…
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Inherited assets? How to claim retirement accounts, plan for taxes, and manage Required Minimum Distributions
When someone close to us passes away, it starts an avalanche of decisions and tasks that need our attention. A lot of these decisions need to occur right away, at a time when every choice…
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