As the end of the year approaches, assess your current financial situation, maximize deductions where you can, and set yourself up for success in the new year.
Washington state legislature has passed the nation’s first public-operated long-term care insurance program. The Long-Term Care (LTC) Act goes into effect on January 1, 2022 and is a mandatory payroll tax that affects all employees residing in Washington.
Washington’s legislature passed a new capital gains tax that will take effect on January 1, 2022. The tax will be imposed on Washington residents at 7 percent on long-term capital gains (assets held for longer than a year) that exceed $250,000 annually.