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Tax Planning
Tax Planning

Now that 2011 is almost here, you may want to make some New Year’s resolutions. Planning to volunteer? Go to the gym more often? Learn a new language? All worthy ambitions, of course, but this year, why not add some financial resolutions as well?

Which resolutions should you make? Here are a few ideas to consider:

Boost your retirement accounts. No matter how old you’ll be in 2011, one thing is certain — you’re a year closer to retirement than you were in 2010. And that’s why you’ll want to increase your contributions to your retirement accounts. read more »

Tax Planning

Break out the crystal ball, tarot cards, and astrology reports. Yes, we’ve reached the final days of 2010 and it’s time to consider tax strategy once again. For the third year in a row, we find ourselves scratching our heads wondering where tax policy is headed and how to arrange our affairs to account for it.

Why the uncertainty? This must be the first time in history a Presidential candidate has run on a campaign of ‘tax the rich’ and won. But even more bizarre is that the promised tax hikes haven’t fully materialized just yet. read more »


There have been many stories involving the Internal Revenue Service in the media lately:

  • Owner of South Kitsap Drive-In Pleads Guilty to Tax Evasion, www.kitsapsun.com, Mar. 5
  • Man Sends Message to Bank, IRS with a Bulldozer, www.wlwt.com Feb. 18
  • Tax Protester Crashes Plane into IRS Office, www.wsj.com Feb. 19

Recollections of stories like these can trigger apprehension in anyone who receives notice that their business or personal income tax return has been selected by the IRS for examination. read more »


Following months of speculation and Congressional debate, President Barack Obama signed the “Worker, Homeownership and Business Assistance Act of 2009” into law, extending the popular First-Time Homebuyer tax credit originally scheduled to expire on Dec. 1. The legislation offers those in the process of buying a home more time to take advantage of the tax benefit if they close on a first-time home purchase by midnight on June 30, 2010. read more »


Increasing personal cash flow during the recessionBetween September 1, 2008 and October 15, 2008 the value of the Dow Jones Industrial Average decreased by over 25 percent. Believing the economy would only get worse, my wife Christine and I made changes in our spending and living habits in order to ride out the anticipated recession.

Mortgage loans and credit cards

We watched fixed mortgage interest rates drop and explored the possibility to getting a lower rate on our first mortgage. With falling home values we were not sure if we could, but in March 2009 read more »

Tax Planning

If you’re like many people, you’re watching your dollars extra carefully this year as you do your holiday shopping. And that’s a good thing, because even in the best of times, it’s never wise to go overboard on gifts. But by making the right moves during this holiday season, you can also help ensure that you stay on track toward your long-term financial goals.

Specifically, what steps should you be taking during these weeks? Here are a few suggestions: read more »

Tax Planning

It may not be the best time of the year to think about taxes, with the holidays and such, but this would be the time to maximize the 2009 deductions by taking some last-minute credits. read more »

Tax Planning

A little phrase that may mean a big difference. When you read about investing and other financial topics, you occasionally see the phrase “tax efficiency” or a reference to a “tax-sensitive” way of investing. What does that really mean? read more »


The tens of thousands of owners of Washington family businesses know all too well the sacrifices required to build a successful enterprise that can reinvest in new jobs and expanded work opportunities for people in the community.

These business owners also know that their hard work, in the end, might be for naught, and that when they die their families may have to sell the business to pay federal and Washington state estate taxes. read more »

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