
Author Archives: Amicus Law Group
Author Archives: Amicus Law Group
Is your business income eligible for the new 20% tax deduction?
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
Gift Taxes Paid Continue as Washington Taxable Estate Assets for Three Years
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
Increase in Federal Estate Tax Exemption for 2016
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
Washington State Estate Tax in 2015
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
The Windsor Decision – One Year Later
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