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WA Millionaires Tax: What Changes Now
Washington has just enacted a new tax on certain high-income individuals, marking a significant change to the state’s tax structure. The law applies to income above $1 million and is scheduled to take effect beginning in tax year 2028, with first filings due in 2029.
Nonprofit Board Governance Best Practices
Strong nonprofit board governance goes beyond financial oversight to drive strategy, sustainability, and mission impact. Learn best practices for nonprofit boards, including how to improve financial visibility, assess risk, and align budgets with long-term organizational goals.
Payroll Tax Refund Opportunities After M&A and Reorganization
Organizations that have undergone mergers, acquisitions, or internal restructurings may have an overlooked opportunity to recover overpaid payroll taxes. When employees move between entities mid-year, wage limits for taxes like FICA and FUTA can unintentionally reset, leading to duplicate tax payments. By applying successor employer rules and reviewing payroll data—particularly for transactions within the past three years—businesses may be eligible to file amended returns and claim refunds. A proactive review can improve cash flow, ensure compliance, and strengthen payroll processes going forward.
Why estate taxes aren’t the only inheritance-related costs to consider
Estate planning discussions often focus on the federal estate tax exemption, but most families face different challenges when transferring wealth. Probate fees, state-level taxes, capital gains exposure, and administrative complexity can all erode inheritances - even for estates well below the federal threshold. A comprehensive estate plan addresses these hidden costs, not just headline tax numbers.
A Critical Turning Point for Importers: The Path Forward on IEEPA Tariff Refunds
A Supreme Court ruling has opened the door for U.S. importers to recover billions in tariffs imposed under IEEPA and later deemed unlawful. The Court of International Trade has directed Customs to recalculate affected entries, potentially triggering widespread refunds.
Importers should act now by auditing past entries, tracking liquidation status, and preparing protests where necessary. While procedural uncertainty remains, proactive documentation and timely action are critical to securing potential refunds.
Lets Have Better Meetings
Executives spend nearly 23 hours a week in meetings, yet many fail to create clarity or momentum. This article reframes meetings as the place where real work gets done — when designed with purpose. By questioning necessity, focusing on decisions, encouraging engagement, and clarifying next steps, teams can turn meetings from time drains into drivers of meaningful progress.
Don’t Leave Charitable Deductions on the Table
High-earning families often give generously throughout the year, but poor documentation and incomplete tracking leave thousands in tax deductions unclaimed. From non-cash donations to appreciated securities, each type of gift has specific IRS requirements that must be met to maximize benefits and avoid audit risk. By building a simple tracking system and understanding the rules, you can ensure your generosity works as efficiently as possible.
Protecting Your Family’s Finances in an Economic Downturn
When the economy feels uncertain, families worry about job security and rising costs, but financial downturns don't require panic - they call for clarity and preparation. By focusing on building liquidity, reviewing spending priorities, ensuring proper insurance coverage, and avoiding fear-based decisions, you can create stability during volatile times.
Supreme Court Tariff Ruling
In a major ruling with immediate implications for North American trade, the U.S. Supreme Court struck down President Trump’s sweeping tariff program that had been imposed under the International Emergency Economic Powers Act (IEEPA).
Understanding the IRS’s new deduction for qualified overtime compensation
The IRS has introduced a new federal income tax deduction for qualified overtime compensation, effective for tax years 2025 through 2028. Eligible workers can deduct up to $12,500 (or $25,000 on joint returns) of the overtime premium they earn above their regular rate of pay. This deduction reduces is available to FLSA-covered employees who meet specific eligibility requirements, including valid Social Security numbers and certain filing status conditions.
Can You be Freed From a Spouse’s Tax Debt?
Innocent spouse relief can protect you from being held responsible for a tax bill caused by your spouse’s or ex-spouse’s mistakes. This article explains how the IRS evaluates these claims, the types of relief available, and what to expect if you apply. If you’ve received a notice or suspect something was wrong with past returns, it may be time to talk to a CPA.
SECURE 2.0 Mandatory Roth Catch-Up Rules: What Employers and High Earners Need to Know for 2026
Starting in 2026, high earners (age 50+, earning $150K+) must make Roth catch-up contributions—no more pre-tax option. Employers will need to identify affected employees, update payroll systems, and ensure plans are Roth-ready.
Compliance starts Jan. 1, 2026, with stricter enforcement in 2027. Early prep = fewer errors and smoother transitions.
Now’s the time to coordinate, communicate, and plan ahead.
US GAAP vs. Tax Basis Reporting in Real Estate
Financial reporting in real estate often requires choosing between U.S. GAAP and tax-basis accounting. Each framework affects how assets, income, expenses, and disclosures are presented — and that choice directly influences lenders, investors, and internal decision-making.
Larson Gross Welcomes Liptz & Associates Team
Larson Gross, a leading West Coast accounting and advisory firm, is pleased to announce that the professionals of Liptz & Associates will join the firm effective January 23, 2026. This move brings together two client-centered teams with shared values, complementary expertise, and a common vision for the future of advisory services.
Washington’s Proposed Millionaire Income Tax
Washington lawmakers are considering a narrowly targeted tax on high earners, often referred to as a “millionaire’s income tax.” While the proposal would apply to a relatively small group, it raises concern for high net worth individuals and business owners around taxable income and the timing of it. This is not a moment for immediate action, but it is a good time to understand potential exposure
Washington Tax Relief for Foreign Sellers
Washington State has opened a narrow, time-limited opportunity for qualifying international businesses selling into the state to resolve potential tax exposure on highly favorable terms. The International Remote Seller Voluntary Disclosure Program (IRSVP) runs from February 1 through May 31, 2026, and is specifically designed for non-U.S. companies that may have unknowingly triggered Washington tax obligations through remote sales.
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