On January 2, 2013, the American Taxpayer Relief Act of 2012 (the “2012 Tax Act”) was signed into law. Under the 2012 Tax Act, the top federal estate, gift and generation-skipping transfer (GST) tax rate is 40%, representing an increase…
Read MoreEmployee bonus programs are a great way to incentivize work performance and improve job satisfaction. But employers planning to implement a bonus program should bear in mind the legal implications of doing so and seek advice from an experienced employment…
Read MoreLike most states, Washington has adopted the Uniform Enforcement of Foreign Judgments Act or UEFJA. The UEFJA permits a person or entity to enforce a judgment against a person or property located in Washington based on a judgement issued in…
Read MoreAs 2013 begins, it is a good idea to be sure that your business practices are in compliance with applicable laws and regulations. There is nothing like preventative care. Discovering noncompliance too late and dealing with the process of fixing…
Read MoreOn October 18, 2012, the Washington State Supreme Court issued a decision regarding the Washington state estate tax consequences of reporting “qualified terminable interest property” (QTIP) on the estate tax return of the second spouse to die. In re Estate…
Read MoreThe Mariners Finally Win One! This off-season the Seattle Mariners re-signed ace pitcher Felix Hernandez to a $175 million, 7-year contract. But keeping baseball’s best pitcher* in a Mariners uniform was only one of the team’s recent victories. The Mariners…
Read MoreWhile a gift of closely-held business interests can be an effective wealth transfer technique, an IRS revaluation of the gifted interests can cause unintended gift tax consequences. For example, if a donor makes a gift of $5 million of business…
Read MoreIn my blog post dated January 24, 2013, "Contractors Vs. Employees: A Matter of Context", I pointed out there are different definitions of an independent contractor in multiple Washington statutes. A new bill has been submitted in the Washington State…
Read MoreThe Congressional extension of the “Bush tax cuts” in late 2010 included for the first time a rarely-discussed provision that can result in significant estate tax savings. Known as “portability,” the provision allows the Personal Representative of the estate of…
Read MoreIs the person working for you an independent contractor or an employee? You need to recognize the term "independent contractor" has a different definition in different contexts. Your independent contractor may be an employee depending on whether the question is…
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