Author Archives: Amicus Law Group

Do you own a business? Then you may be eligible for a tax deduction of up to 20% of your business income. A brand new income tax deduction was created in the 2017 Tax Cut and Jobs Act (“Tax Act”) … Continue reading →

Making gifts shortly prior to death does not eliminate the federal gift taxes paid from a Washington resident’s estate.  Washington’s Supreme Court recently released a decision requiring federal gift taxes paid within three years of death must be included in … Continue reading →

Currently, both Washington state and the federal government have an estate tax due at an individual’s death, depending on the value of the assets the decedent owned. Both Washington and the federal government specify an amount of assets and money … Continue reading →

As of January 1, the federal lifetime estate and gift tax exemption has increased for inflation to $5.45 million per person. This is just slightly up from $5.43 million in 2015. Married couples can get the benefit of two individual … Continue reading →

The 2015 Washington state estate tax exemption for deaths occurring in 2015 is $2.054 million. This is up from $2.012 million in 2014.  Amounts passing to heirs above the $2.054 million mark will be taxed at a rate of 10-20% … Continue reading →

  One year ago this month, Edie Windsor won her case in the U.S. Supreme Court, securing a refund from the IRS of the $363,000 estate tax bill that she paid upon the death of her spouse (and partner of … Continue reading →