Financial Planning Briefings

Washington State lawmakers recently reversed many of the estate tax changes they implemented just one year earlier. This is mostly good news, but there is one devilish little detail that you need to be aware of. Not all that glistens is gold, so let's explore the good and the bad of these 2026 changes.

As year-end quickly approaches, it’s time to think about some planning opportunities and contribution changes. Today, we’re going to hit on a variety of topics in brief. We’ll introduce the change and then give just one or two sentences about ways you may want to think about these changes.

Quietly put into service in the summer of 2025, this new tool helps retirement savers locate and reclaim "lost" retirement accounts left behind at previous employers. 

Here we'll expand our knowledge of the OBBBA, diving into some less heralded changes to charitable giving deductions. While these only take effect in 2026, thoughtful planning is due this year. Let's explore!

(August 2025)

The "One Big Beautiful Bill Act" just passed, ushering in significant changes (loved by some, hated by others). Putting politics aside, to help provide some clarity, we’re going to highlight here a couple of key provisions that are broadly impactful, with brief mention to a couple of others that are more marginal in their reach.

(July 2025)

Good estate tax planning just become significantly more valuable here in Washington State, as the major changes were made to the exemption amount and the estate tax tables. Let's explore!

(May 2025)

With the New Year also comes a bevy of new numbers (and policies) – for retirement accounts, gifting, taxes, and more. We wanted to highlight the ones most relevant to the majority of you. Here we go!

(January 2025)

Not everything in financial planning is exciting. Making money is fun. Growing your money is fun. Spending your money is even more fun. Figuring out how to protect it – not as much fun. However, understanding how your retirement accounts are protected from creditors is an important step in structuring your financial plan. Let's explore.

(June 2023)

Retirement planning is often all about the numbers. Will I have enough money (numbers) to sustain my expected lifespan (more numbers). What returns (numbers) to I need from my investments (more numbers). With all that numerical talk, there are five other numbers that often get ignored in planning for a healthy, successful retirement – the five digits of your zip code.

(May 2023)

In down years like 2022, tax-wise investors will often take the opportunity to execute “tax-loss harvesting” opportunities. What results can be a net capital loss. How do you treat that in the current year, and what do you do with any excess, known technically as a "carryforward"? Understanding this important asset can be critical to effective tax planning and portfolio management. 

(April 2023)

Last week we looked at the Silicon Valley Bank failure. Since then, worries about the health of the banking sector have only grown, leading many depositors to wonder if their deposits are truly secure. While we don’t know what the ultimate outcome of this current banking situation will be, we do know that it provides an opportunity to take control of things we can control. Here we'll look at deposit insurance across banks (FDIC), credit unions (NCUA), and investment accounts (SIPC). How are you covered and how can you maximize this coverage? 

(March 2023)

In the start-up world, it’s no secret that equity is a key component of your total compensation. It provides you with ownership and (potentially) meaningful upside opportunity, while minimizing upfront compensation costs for the company as it seeks to grow on a limited budget. Here we are going to focus on ISOs and the question of when to exercise these options. What are the tax implications and should they drive your decision making? What else should you consider?

(March 2023)

Social Security forms a key part of most retirement plans, and yet is an (overly/needlessly) complex program that leaves many retirees confused or even opting for suboptimal claiming strategies. We want you to make the most of this program, enabling it to best serve your broader financial plan. Here we will look at five key principles that we believe are critical to understand if you want to make the most of this important resource. 

(January 2023)

As people age, they may find themselves wanting to downsize or relocate or needing to sell in order to move to assisted living. In doing so, they often realize extraordinary capital gains on the house they have called home for many years, if not decades. While this gives a tremendous boost to their liquidity and thus adds to their financial flexibility, they may be caught off guard by two interrelated financial hits that follow: capital gains taxes and higher Medicare premiums. Let's look at how these work and ways you can minimize (or even eliminate) these unwanted burdens.

(January 2023)

The SECURE 2.0 Act of 2022 is a significant new piece of legislation impacting retirement plans and plan participants. Many of the most significant changes are ones impacting retirement plan sponsors (business owners). If you are an existing plan sponsor, these changes will require amendments to your plan design and document, careful coordination with your TPA, recordkeeper, and plan’s financial advisor, and communication with your employees. If you are a business owner considering offering a retirement plan, this Act aims to strongly incentivize you to get started. We're going to highlight the key changes and the potential implications of each.

(December 2022)

Congress recently passed "SECURE 2.0," a significant piece of retirement focused legislation buried within the voluminous Omnibus Spending Bill. These new provisions present great opportunities for individual investors, and we'll look here at the most consequential provisions. These will go info effect as early as January 1, 2023 (many will be later), and will impact both retirees and those just getting started with saving towards retirement (and everyone in between). 

(December 2022)

We're just over one month away from the end of the year. It's been a year marked by a little bit of everything, including bear markets in both stocks and bonds. In addition, we've seen new tax laws come into being. Put all of this together, and its probably wise that you carefully consider your tax picture before year-end. Yes, "tax season" starts in early 2023, but many of the levers you need to pull to minimize your tax bill and position yourself best for long-term success need to be pulled by December 31st. Join us as we take a trip around the horn looking at some of these key year-end considerations.

(November 2022)

Halloween, Thanksgiving, Christmas…those are the dates most of us are starting to look towards in the months ahead. However, another important set of dates comes at us as the leaves change colors and we gain an hour of sleep. It’s the annual ‘Open Enrollment’ season for health insurance. Whether you access health insurance through your employer or the individual markets, one thing you should consider during this open enrollment period is whether an HSA-eligible plan is right for you. We'll take a deep dive into these accounts to see what they are, how they work, and whether they are in fact a good fit for you.

(November 2022)

An 8.7% cost of living adjustment for Social Security benefits was recently announced, much to the delight of seniors facing the seemingly unrelenting pressures of inflation. What this means to your monthly benefit checks is pretty clear. They will go up – and will be further accented by the slight decrease in Medicare Part B premiums. However, there are some natural questions and considerations that come with this reality. Let’s look at them now.  

(November 2022)

As we enter Q4 of what has been a challenging year for investors, we updated a piece we first published during the throes of COVID. Here, we look at financial planning opportunities that are particularly timely during challenging market environments. We'll provide a brief overview of a handful of topics that may apply to you and in turn allow you to take back some control when these markets may have you feeling out of control.

(October 2022)

Net Unrealized Appreciation (NUA) is an important tax consideration for those who own company stock in a 401(k) account. This special tax rule allows you potentially save significantly on taxation of these assets, and also opens up additional flexibility to your financial plan. We'll explore how this little-known methodology works and when you may want to consider it.

(February 2023)

With more homeowners sitting on substantial equity while feeling "trapped" by rising interest rates, many are choosing to remodel or simply desire to use their equity to meet liquidity needs. HELOCs (Home Equity Lines of Credit) can be a great resource for responsible borrowers. Here, we'll try to give you a better understanding of what they are, how they work, and when they should be used (and when they should be avoided).

(September 2022)

After garnering a ton of airtime in the latter half of 2021, this novel payroll tax and LTC benefit has faded from discussion. It's still a thing, though, and we are taking a look here at the delays and program design changes that were enacted by the Legislature and Governor earlier this year. These changes are significant, and so we encourage you to take a few minutes to read up and learn more.

(June 2022)

Designating beneficiaries on your retirement and HSA accounts is something most of us do when we establish the account, but then never think about again. Here we'll look at why a periodic review may be warranted and how to think about these important decisions.

(April 2022)

With housing prices rapidly appreciating, more sellers are faced with the potential of owing capital gains taxes upon sale. While paying taxes inherently means you made money, which is never a bad thing - it's also never a bad thing to mindfully avoid paying taxes if you don't have to. In this piece, we look at ways to minimize your capital gains tax exposure when planning to sell your home. 

(February 2022)

Tis the season…for giving! Yes, we all like to receive – but I know many of you find even more joy in giving. While you may already be busy buying those gifts for under the Christmas tree (with all of the horror stories of backordered items, we wouldn’t blame you) – we’re going to talk today about charitable giving. This is the time of year where we find ourselves at many charity galas and receiving innumerable year-end giving pleas from our favorite organizations, and we want to help you think about how to show your financial generosity in the most powerful and tax-friendly ways.

(October 2021)

Let’s start by stating the obvious. College is expensive. Let’s continue by pointing out another truth. Saving for college can be a challenge. Finally, let’s make clear another less obvious (or accepted) reality. College is not for everyone. Of course, you don’t know whether that’s the case for your little one (whether it’s your kid or your grandkid) when they are still filling diapers and sucking their thumb. Thankfully, every option we are going to present has built-in flexibility that should make it such that you can save confidently, even when you are not confident of what the future holds for your loved one.

(September 2021)

A Revocable Living Trust is one of two traditional ways that you can choose to anchor your estate plan, the other being a Last Will and Testament (“Will”). Hopefully all of you have one or both of these in place, though we know there are some that do not. Regardless, it’s important to know the difference, whether you are just getting docs put in place or are reviewing docs that have collected dust after being drafted a decade ago. In this piece, we'll explore what a RLT is and whether it makes sense for you.

(August 2021)

$1.65 trillion! By some estimates, that is how much is sitting in left behind employer-sponsored retirement plans (e.g. 401k). While these funds remain the property of the account owner, these languishing accounts can mean diminished returns, wasteful fees, and, of course, the loss of unclaimed retirement money. This bulletin takes a look at the options you have to take control of these assets as you continue to build wealth towards retirement.

(July 2021)

Did you know there's a new payroll tax coming to Washington in 2022? Yes, if you are a W2 employee in the state of WA, 0.58% of your gross pay will soon go to pay for a state-run long-term care insurance program, unless you choose to opt-out. Explore this piece as you decide whether opting-out or remaining in is best for you. Not a W2 employee? You still may want to read - as there are potential implications for you as well.

(May 2021)

In this final installment of a three part series, we look closely at the newly-passed capital gains tax here in Washington State. We take a deep dive into what's taxable, the applicable rate, and planning opportunities to help mitigate your exposure.

(April 2021)

In this second installment of a three part series, we look at the mechanics of capital gain taxes. We try to help you understand how they are calculated, particularly in relation to taxes on ordinary income. Understanding this can help unlock significant tax planning opportunities.

(April 2021)

In this first installment of a three part series, we look at the basics of capital gain taxes. We try to help you understand what these taxes are and why capital gains historically have received preferential treatment. We also look at the recent proposal to raise capital gains tax rates at the federal level and the impact this change could have on financial markets.

(April 2021)

We all know that having a reasonable cash reserve is critical to any financial picture. However, in an ultra low rate environment like we are muddling through right now, holding cash can be challenging and many are looking for "something better" than what their traditional checking/savings account can offer. In this piece, we'll look at how to view cash and the options that exist to enhance yields, as well as the trade-offs that exist as you pursue other options across the spectrum.

(April 2021)

Simply saving money is by far the most important step in building a long-term financial foundation. However, you can do even better by saving in the right places. That said, the options can be overwhelming and fraught with rules that are difficult to navigate. This piece looks at a baseline way to think about prioritizing your long-term savings to maximize tax-efficiency, while always recognizing the importance of building a plan that meets YOUR needs.

(April 2021)

With interest rates at record lows, incomes seemingly stabilized, and house prices through the roof – we have fielded more than a few questions about refinancing. Does it make sense? What does the process look like? Already, we have helped many clients answer these questions, with a large share of these then proceeding to complete a refi. As rates have continued their march downward, more of you are likely (or should be) considering a refi, so today we will take a closer look at what should be considered as you think about this.

(March 2021)

Today’s topic is sometimes referred to as the “Red File,” a convenient and catchy name to describe a simple system for organizing and communicating to your loved ones what needs to happen in the event of your incapacitation or death. Let's explore what's included and how to get this important task checked off your to-do list.

(February 2021)

Contrary to much belief, your tax picture for 2020 was not finalized on December 31, 2020. Yes, there were certain things that had to be done by that date to prove worthwhile for 2020 (e.g., charitable giving, 401(k) contributions), but there is still a myriad of things you can do to help reduce your upcoming tax bill for 2020 and improve your tax situation throughout 2021.

(January 2021)

You’ve saved diligently for years, invested with a long-term mindsight, and waited. Waited for that retirement account to go from simply an asset on a balance sheet to an income provider. Whether you are just 59-1/2 and first eligible to take funds (voluntarily) or are 72 and of age to be required to take funds, we want you to know your options so that you can continue to make the most of this important account.  Let’s look at a few key considerations.

(January 2021)

Let’s look at a way that retirees can be generous with their money while also significantly reducing their tax burden in retirement. This is through the use of Qualified Charitable Distributions (QCD). From my experience, this is an often misunderstood and underutilized tool. My goal here to help educate retirees on this powerful method of giving and tax savings, so that they can continue their legacy of generosity in a tax-friendly manner in retirement. 

(Updated: June 2023)

Because of your high income, you were deemed ineligible to make a contribution directly to your Roth IRA. However, you still got money into that account via the “backdoor.” This method is a loophole that has been recognized and actually fully endorsed by the IRS that allows higher earners to still contribute to a Roth IRA, albeit with a few more steps and complications along the way. The added steps don’t end once the funds finally land in the Roth IRA, as they extend to tax time as well. The briefing is intended to illustrate how to properly report this transaction on your taxes.

(January 2021)

The level of turmoil in the markets in recent months can easily leave us feeling helpless. Thankfully, if we take a step back, we can see that this downturn actually presents us with some financial planning opportunities that we can leverage to improve your financial picture over the long-term, in some cases quite dramatically.

(April 2020)

Congratulations!  Whether you just said “I do” or are simply preparing to do so, you know that marriage is an incredible gift and we share with you in your excitement.  You may also hear that it is a ton of work.  That is true.  While this work is most often filled with joy, there are also tedious elements to it – like the legal and financial ins-and-outs of joining your lives together. To help make the “un-fun” a little more enjoyable and understandable, we have put together this guide to the intricacies of “becoming one” from a legal and financial perspective.

(June 2019)