If you are in the holiday spirit this season, you may wish to make gifts using the 2018 annual federal gift tax exclusion amount. To qualify for the annual federal gift tax exclusion, gifts must be made no later than December 31, 2018. You may give up to $15,000 to as many recipients as you Read more >
Our civil rules encourage settlement. Settlement prevents the “winner take all” scenario and encourages the efficient use of court resources–trials are time-consuming and expensive. Although avoiding the courtroom altogether may sound appealing (pardon the pun), remember that you do not need a jury verdict to appeal your case. Here are some things to consider in Read more >
Overview On June 21, 2018, the Supreme Court decided South Dakota v. Wayfair. This pivotal sales tax case allows states to impose sales tax obligations on out-of-state businesses that have no physical presence in the state. Previously, a business had to have some sort of physical presence in the state, such as an employee working Read more >
Although Washington employers are generally not required to provide severance pay to a terminated employee (except if promised in an employee handbook or employment contract), many employers still offer severance as a gesture of good will. There are any several factors, however, that should be considered when deciding whether to sign a severance agreement. An Read more >
The Washington Law Against Discrimination makes it unlawful for an employer to “discharge, expel, or otherwise discriminate” against a job applicant or employee on the basis of that person’s protected characteristic such as race, age, or sex. Likewise, the WLAD also makes it unlawful for an employer to do the same because he or she Read more >
Current IRS rules that provide tax breaks on gains of sales of qualified small business stock (QSBS) have been made permanent. More specifically, a taxpayer may be able to exclude from personal income tax up to 100% of any gain realized on the sale or exchange of QSBS held for more than five years (subject Read more >
In a divorce, there are generally three types of payments that can be made between the divorcing parties. The first is considered an equalizing property transfer payment. For example, if, after the allocation of all real property, bank accounts, retirement accounts, and investment accounts, there is a disparate value between the parties, one party usually Read more >
Beginning on January 1, 2018, all employers in the State of Washington are required to provide paid sick leave to certain employees. This new law implements Initiative 1433, passed by Washington voters in 2016. While employers may be compliant in theory, the new law and regulations include a number of requirements and obligations that employers Read more >
The Tax Cuts and Jobs Act, signed into law by President Trump on December 22, 2017, is the most significant U.S. tax reform to be enacted in over thirty years. One of its many components is the near doubling of the federal estate, gift, and generation-skipping transfer-tax exemption amount applicable to individuals. The Act raised Read more >
In today’s online world, more people are turning to the internet as a way to save money and find a do-it-yourself solution. You can watch YouTube videos explaining how to repair items around your house, do your own taxes through programs like TurboTax, and now there are online programs to walk you through the divorce Read more >