INSIGHTS

Thoughtful
thoughts from
the thinkers at
Larson Gross.

A Smart Gifting Strategy: Why the Annual Gift Tax Exclusion Matters More Than You Think

Gifting isn’t just for the ultra-wealthy—it’s a smart, tax-efficient way to support loved ones and reduce your estate over time. With tools like the annual gift tax exclusion, direct payments for education or medical expenses, and strategic use of trusts or 529 plans, even small gifts can create lasting impact. A thoughtful plan today helps build security for tomorrow.

Building a Financial Foundation for Your Child: Strategic Moves for Parents

For many parents, providing financial security for their children is a top priority. But building that security involves more than funding college or opening a savings account. The real goal isn't just to transfer wealth - it's to prepare the next generation to manage, grow, and protect it.

Your 2026 Tax Season Survival Guide

For most people, tax season brings a quiet panic about what they might be forgetting and a last-minute rush to pull everything together before the deadline. But it doesn't have to be that way. With just a little preparation, you can avoid surprises, minimize your tax bill, and make the entire process smoother for both you and your advisor.

It’s time! What to prepare for tax year 2025 filing

Whether you’re an individual taxpayer or business owner, preparing early for tax time can reduce delays, minimize errors, and help your tax pros do their best work on your behalf. Our team has put together a practical guide to get you started on the right foot this tax season, including key deadlines, commonly required documents, and planning considerations.

1099 Season Is Here: What Employers Need To Know

Businesses must prepare 1099s for contractors and vendors by February 2, 2026. Understanding which forms to use and getting organized now can help you stay on track and avoid costly IRS penalties.

Larson Gross Welcomes Perry, Shelton, Walker, and Associates, PLLC (PSWA) Team

Larson Gross, a leading Washington-based accounting and advisory firm, is pleased to announce that the team from Perry, Shelton, Walker, and Associates, PLLC (PSWA), a respected Pacific Northwest firm, will officially join Larson Gross effective January 1, 2026.

Revocable vs. Irrevocable Trusts: What’s the Difference?

Trusts are powerful estate planning tools, but not all trusts are created equal. In this video, we break down the key differences between revocable and irrevocable trusts, including control, tax treatment, creditor protection, and long-term planning implications. Whether you're building a basic estate plan or preserving multigenerational wealth, understanding these two foundational trust structures is essential.

Crisis-Proofing Your Business: Strategic Response Tactics

Learn how to prepare for and respond to a business crisis with proven strategies. This guide covers real-world missteps, leadership tactics, and financial planning tips to help your business recover and thrive.

The Capital Gains Tax Traps Even Savvy Investors Miss

Think you know how capital gains work? Think again. Here are 4 surprising capital gains mistakes investors make—and how to avoid a surprise tax bill.

Some States Are Splitting from the OBBB – Is Yours?

Understand how your state conforms to the new OBBB provisions and learn how to update your tax strategy to maximize savings.

Disguised dividends: what C corp owners should know about reasonable compensation

Mitigate the risk of IRS reclassification of compensation as disguised dividends. Learn how C corporations can structure owner-employee pay to stay compliant and tax-efficient.

Washington DOR: Immediate Tax Relief & Business Support for Flood Victims

The Washington State Department of Revenue (DOR) is actively offering disaster relief provisions to help flood-impacted businesses manage their tax obligations and maintain compliance during recovery.

Why AI Is No Longer Optional

For years, business leaders wondered when AI would finally become practical. That moment has arrived. AI is now woven into the tools people already use every day — from email and messaging apps to CRM systems, spreadsheets, and even industry-specific workflows.

Why 2026 Brings Smarter 1099 Rules

After years of confusion, 1099 reporting rules are being reset in a way that aligns with how people actually transact. The unpopular $600 1099-K threshold has been rolled back, long-outdated 1099 limits are increasing for the first time in decades, and inflation adjustments are finally being introduced. The result is fewer unnecessary forms, less administrative friction, and clearer tax obligations for businesses and individuals alike - beginning with restored 1099-K rules in 2025 and modernized 1099 thresholds starting in 2026.

2025 Year-End Tax Tips for Individuals & Families

As 2025 ends, taxpayers face key updates to the tax landscape, including extended Tax Cuts and Jobs Act (TCJA) provisions and new deductions introduced under the One Big Beautiful Bill Act (OBBBA). This year-end tax planning guide highlights important considerations before December 31 to help individuals make informed, proactive financial decisions and prepare for upcoming changes in 2026.
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