As part of the recent second special legislative session, the Washington state legislature made several changes to the Washington state estate tax, effective for persons dying after January 1, 2014. Other changes were designed to limit the impact of the…
Read MoreIn a recent decision, the Washington Court of Appeals reinforced the rule that where a purchaser of real property has notice of a defect, the purchaser must make further inquiry of the seller. If the purchaser fails to do so,…
Read MoreIf you have a business in Seattle, you might have to change how you do background checks. The Seattle City Council passed a new ordinance restricting criminal background checks on applicants for employment. Employers will no longer be able to…
Read MoreEach person may exclude from income up to $250,000 of capital gain on the sale of the person’s principal residence (known as the “gain exclusion,” governed by Internal Revenue Code § 121). A married couple may exclude up to $500,000…
Read MoreOn May 21, 2013, Governor Jay Inslee signed into law an act that generally prohibits an employer from requiring an employee or applicant to disclose information related to their social media account. If an employer violates the act, an employee…
Read MoreThe City of Seattle has published a new Frequently Asked Questions document (FAQ) concerning its Paid Sick Time and Safe Time Ordinance (the Ordinance). The Ordinance requires employers to provide paid sick/safe time (PSST) to their employees who work within Seattle…
Read MoreHow many years after a taxable gift may the IRS audit the gift? Taxpayers are often surprised to learn that when a gift tax return is not filed, or when a filed gift tax return does not “adequately disclose” a…
Read MoreA Real Estate Investment Trust (REIT) is a corporation, trust, or association that combines the capital of investors to own and many times operate income-producing real estate (e.g., apartments). Generally, to be considered a REIT, the REIT must pay at least…
Read MoreMany leases contain provisions allowing for the tenant to renew the lease. The material terms during the optional renewal period must be specified sufficiently so as not to be considered vague. Thus, if a renewal option leaves all the terms…
Read MoreOn January 2, 2013, the American Taxpayer Relief Act of 2012 (the “2012 Tax Act”) was signed into law. While the 2012 Tax Act did not significantly affect many taxpayers, those individuals with incomes over $400,000 and married couples filing…
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