Blog

Washington's estate tax laws are changing significantly in 2025 due to two new bills. A higher $3M exemption offers relief to many, but steeper tax rates up to 35% create new challenges for larger estates. This essential guide breaks down the updated tax brackets, the new spousal residence exclusion for filing, and powerful planning strategies like lifetime gifting and Roth conversions unique to WA state. Understand how these reforms impact your family's financial future and why you must review your estate plan now.

Did you know that converting your cherished second home into your main residence doesn't automatically grant you the full capital gains tax break when you sell? The Housing and Economic Recovery Act of 2008 introduced critical changes, meaning any time after 2008 it wasn't your primary home could reduce your exclusion. This often-overlooked rule about "non-qualified use" can lead to a significant and unexpected tax bill. Uncover the details to ensure you're financially prepared for your property sale.

Ever feel like financial plans are too complex and full of numbers that seem too good (or bad) to be true? This article explains why chasing pinpoint "GPS-like" accuracy in your financial future is a mirage. Instead, think of your plan as a reliable "compass," guiding you in the right general direction. We'll explore why precise forecasts based on tons of assumptions can be misleading, and how understanding this helps you get comfortable with the natural uncertainties of a long journey. Plus, discover your own "superpower" – the ability to adapt and adjust your course along the way, making the journey less about rigid predictions and more about smart navigation.

Washington State's capital gains tax has changed significantly in 2025, with new tiered rates up to 9.9% and a retroactive effective date of January 1, 2025. If you have investments in Washington, these updates could directly impact your tax liability and financial strategy. Learn what these changes mean for your financial future and how to navigate the new landscape.

Washington homeowners 61+, disabled, or qualifying veterans can significantly reduce property taxes through a state exemption – a key factor for effective financial planning. Learn about eligibility based on age/disability, ownership, residency, and county-specific income limits. Find out how applying for these potential savings can impact your budget and help achieve financial objectives.