Kaizen Capsules

Preparing for retirement just got a little more financial wiggle room. The Internal Revenue Service (IRS) announced new contribution limits for 2022.

Key Changes:

As the end of the year approaches, you may be considering a charitable contribution. Did you know that many charities accept transferred securities as a donation? This is just one opportunity that could result in a tax benefit to you and a larger gift to your charity.

Here are a Few Giving Opportunities:

Q3 QUARTER’S RECAP

• U.S. economic growth slows in the face of Delta variant headwind
• Europe’s economic outlook remains positive
• Stocks retreat from record highs; confront a bevy of challenges

The window to begin exempting yourself from Washington’s Long-Term Care Tax is quickly approaching. The Washington State Employment Security Department (ESD) will begin accepting applications for exemption on October 1, 2021. Please review the steps to apply for exemption below.

In Case of Emergency: What Every Parent Should Know

When your child turns 18, there can be an abrupt loss of legal power for parents.  Even if you are providing financial support, your child transforms into an adult in the eyes of the law.

CAN HAVING THREE GOOD FRIENDS PROMOTE A HAPPY RETIREMENT?

Overview of Tax

The Long-Term Services and Supports Trust Act (Trust Act) will not be the only new tax the state of Washington will be imposing on its residents come the new year.  It will be joined by a new capital gains tax.  Both of these new taxes become effective on January 1^st, 2022.

This Month’s Recap

Q2 QUARTER’S RECAP