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Tax Updates

Tax Updates & Legislation News

This has been an unusually active year for tax legislation. Please check back frequently for further news and updates. We also will be posting these updates and more on our Facebook page.

Please don't hesitate to contact us if you have any questions or concerns about your tax planning. We are available via email or contact our offices at 206.284.1383.

 

 

New Retirement Planning Information for 2016 and 2017 - February 7, 2017

Retirement Plan Type Comparison for 2017 and Plan Contribution Limits for 2016 and 2017

 

Tax Return Due Dates for the 2016 Tax YearDecember 1, 2016

Click here for an overview from the AICPA of the revised tax return due dates that are taking effect January 1, 2017.

 

Post-Election Tax Policy Update - November 9, 2016

Click here for a CCH article reviewing possible tax law revisions for both individuals and businesses when the the Trump administration takes office in January 2017.

 

2016 Year-End Tax Planning Strategies - October 7, 2016

There are several significant tax legislation and IRS rule changes taking effect in 2016.  Click here to access an article outlining a few 2016 year-end tax planning strategies for both individuals and businesses.

 

2016 Affordable Care Act Update - September 16, 2016

We anticipate reporting changes, excise tax relief and other developments relating to the Affordable Care Act in 2016 - Click here to access an article from CCH giving an overview of what to expect.

 

Seattle B&O Taxes and Tax Certificate Fees to Increase in 2017 - July 27, 2016

Seattle City Council voted on Monday, July 25, 2016 to raise both the Business & Occupation tax and the fee businesses pay for their tax certificates.  Businesses with an annual gross income of $5M or more will be hit the hardest, however, even those with annual gross incomes of $500k will see an increase in fees.  Click here for an overview by the Puget Sound Business Journal.

 

President Obama Signs Extender Bill (PATH Act) - December 18, 2015

On December 18, 2015, President Obama signed the Protecting Americans from Tax Hikes Act of 2015. The bill makes permanent a number of business and individual tax incentives that expired at the end of 2014, extends some provisions for five years, and extends a few other provisions through 2016.  Click here to access an article that reviews the provisions extended as part of this bill.

 

New Retirement Planning Information for 2015 - December 24, 2014

Retirement Plan Type Comparison for 2015 and Plan Contribution Limits for 2015

 
CCH on the Tax Increase Prevention Act of (H.R.5771) passed by Congress on December 16, 2014.  President Obama has indicated that he will sign H.R.5771 bills as soon as they reach his desk.
 

CCH Update on Final Repair/Capitalization Regulations - November 19, 2014

 

CCH on Year-End Tax Planning 2013 - November 7, 2013

The 2013 tax year will bring both challenges and opportunities for many of our clients and we feel that CCH has produced an excellent piece highlighting many of these to assist taxpayers with end of year tax planning.  We encourage you to take a few minutes to read the above article and contact us with any questions or to further discuss your particular tax scenario as we approach year-end.

 New Retirement Planning Information for 2013 - February 5, 2013

Retirement Plan Type Comparison for 2013 and Plan Contribution Limits for 2013

New Washington State Trust Legislation - February 1, 2013

New Washington trust legislation has changed trustee requirements and beneficiary rights to knowledge about the trust.  For irrevocable trusts created after December 31, 2011, the trustee is now required to give notice to any beneficiary of the existence of the trust and certain other details.  In the case of any irrevocable trust, beneficiaries are unrestricted from information on the administration of the trust and may request information about the trustÂ’s assets.  The Washington Trust Act affects the trustees and beneficiaries of irrevocable trusts or revocable trusts that become irrevocable.  Any trustee in this position should ensure they understand all the requirements under the new legislation.

2012 Tax Year in Review - CCH - January 21, 2013

Analysis of Post-2012 Net Investment Income and Additional Medicare Taxes - CCH  - January 2, 2013

American Taxpayer Relief Act of 2012 - CCH  - January 2, 2013

Post-Election Tax Policy - CCH  - November 8, 2012

Tax and Budget Uncertainties Impact Year-End Strategies - CCH - October 4, 2012