2025 Archive

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.

Think only Washington State has strong hospital financial assistance? Think again! While federal law requires non-profit hospitals nationwide to offer financial aid, many states have their own, often more generous, 'charity care' laws, meaning help varies widely. This article explores programs in several states and stresses the importance of checking your local rules and contacting the hospital's financial assistance office directly.

Washington State's new rent stabilization law, HB 1217 (effective around May 2025), brings significant financial planning considerations for both renters and landlords. This article delves into how the new annual rent caps, initial tenancy protections, and other provisions directly impact household budgets, investment strategies, and long-term financial health. Discover the key financial implications of this landmark legislation and what steps you should consider to navigate these changes, whether you're managing rental income or planning your housing expenses. Understanding these financial shifts is crucial for all Washington residents affected by the new rental landscape.

Cole Ferrier, Financial Planner at EnoughFP LLC, has been recognized as one of the first financial professionals to earn the Tax Planning Certified Professional™ (TPCP™) designation from The American College of Financial Services. This certification signifies advanced knowledge in complex tax planning and optimizing tax advantages for clients. Possessing the TPCP™ designation demonstrates Cole Ferrier's commitment to providing comprehensive, tax-efficient financial planning.

High hospital costs? Washington's Charity Care law offers significant financial assistance. Find out if you qualify for free or reduced-cost care under the expanded 2022 rules (eligibility reaches up to 400% FPL at major hospitals!). Click to understand the law, typical application process and policies at two example medical systems.

Saving big in a 529 but fear penalties on leftovers? Using two accounts (high/low growth) and spending high-growth funds first for college might reduce taxes on non-qualified withdrawals from the remaining low-growth funds. It's a complex strategy for ambitious savers needing expert advice.

This post explains that Affordable Care Act (ACA) health insurance subsidies (Premium Tax Credits) decrease as your income goes up. This reduction effectively acts like an extra tax, increasing your overall marginal tax rate. Understanding this "phase-out" is crucial for financial and tax planning, especially since current rules softening the impact expire after 2025.