News & Insights
Explore our latest updates on tax strategy, accounting compliance, and operational best practices curated by the Maris & Associates team.
Learn how to complete IRS Form 1023, decide between Form 1023 and Form 1023-EZ, and apply for 501(c)(3) tax-exempt status — with step-by-step preparation tips and expert CPA support.
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The new $6,000 senior deduction phases out as your income rises. Single filers lose 30 cents per dollar of AGI above $75,000, hitting zero at $95,000. Joint filers lose 15 cents per dollar above $150,000, hitting zero at $190,000. This above-the-line deduction stacks with the standard deduction, creating a rare double benefit for seniors. See the full phase-out math, what income counts toward AGI, and strategies to stay below the threshold and preserve your deduction.
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A $100,000 salary in Washington owes the state nothing—there's no personal income tax, and the new 2028 tax only targets income above $1 million. Federally, a single filer keeps roughly $78,350 after income tax, Social Security, and Medicare. A married couple nets about $84,350, and families with two kids save another $4,000 through the child tax credit. Self-employed earners lose an extra ~$8,000 to doubled FICA. See the full breakdown and how Washington stacks up against CA, NY, and OR.
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Washington has long been an income-tax-free state, but that's changing. In March 2026, Governor Ferguson signed a new 9.9% personal income tax that takes effect January 1, 2028-though it only applies to income above $1 million per household. For the 99%+ of residents below that threshold, nothing changes. Learn who pays, how Washington taxable income is calculated, how the PTET election works for businesses, and why a lawsuit could determine whether the tax survives at all.
Read article →You qualify for the $6,000 enhanced senior deduction if you're 65 or older by December 31, 2026, and your AGI falls below the phaseout limits—$95,000 for single filers or $190,000 for joint filers. Your employment status doesn't matter, and you still qualify even if your spouse is under 65. Head of household filers follow the single-filer rules. Learn exactly who qualifies, who doesn't, and how age, income, and filing status affect your deduction.
Read article →The enhanced senior deduction phases out between $75,000–$95,000 for single filers and $150,000–$190,000 for joint filers. Below these ranges, you get the full $6,000 deduction; above them, nothing. Inside the range, the deduction shrinks proportionally—single filers lose 30 cents per extra dollar of AGI, joint filers lose 15 cents. Learn how the phaseout works, what income counts, and strategies to reduce your AGI and preserve the deduction.
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If you make $70,000 in Washington, the state takes nothing—there's no personal income tax, and the new 2028 tax only hits income above $1 million. But federal taxes still apply. A single filer nets roughly $57,200 after federal income tax, Social Security, and Medicare. A married couple keeps about $60,200, and families with kids save more through the child tax credit. See the full breakdown by filing status, self-employment impact, and how Washington stacks up against other states.
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Washington's sales tax is actually two taxes stacked together. The state rate is 6.5% everywhere, but local taxes—added by cities, counties, and special districts—push combined rates from 7% in rural areas to 10.25% in Seattle. The local portion funds everything from jails and mental health services to Sound Transit's light rail. Rates vary widely: Vancouver 8.5%, Spokane 8.9%, Tacoma 10.2%. Learn how local taxes are built, what's exempt, and how online purchases fit in.
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Washington's capital gains tax is 7% on long-term gains between $250,001 and $1 million, and 9.9% on gains above $1 million. The first $250,000 each year is exempt, so most people never pay. Primary residences, retirement accounts, timber, agricultural land, and qualified family business sales are fully or partially exempt. Nonresidents owe tax only on Washington-situs real estate. Learn who pays, what's covered, how to file Form W-1, and the planning strategies that work.
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Washington's B&O tax is a gross receipts tax on total revenue—not profit—so you pay it whether you make money or lose money. Rates vary by classification: 0.471% for retail, 0.484% for wholesaling and manufacturing, 1.5% for services and financial. Public utilities range from 0.642% to 3.873%. A $280 small business credit exempts the smallest earners, and sales to out-of-state customers or the federal government are generally deductible. See the full rate table and filing rules.
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Washington property tax is an ad valorem tax built from dozens of overlapping levies—state, county, city, schools, fire, library, and voter-approved bonds. Combined rates typically run $9–$12 per $1,000 of assessed value, or roughly 0.9–1.2% of your home's worth. Rates vary by county, from around $9.50 in King County to over $11 in rural areas. State law caps total annual tax growth at 1% and assessed value increases at 15%. Learn how it's calculated, exemptions, appeals, and more.
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Seattle has the highest sales tax in Washington at 10.25%, and most King County cities—Bellevue, Redmond, Kirkland, Renton, Tukwila, Lynnwood—share that rate. It's built from the 6.5% state rate plus stacked local taxes: county, city, criminal justice, mental health, transportation, public facility district, and the 1.4% regional transit tax. Tacoma comes close at 10.2%, while Spokane sits at 8.9%. See why Seattle tops the list and how other major cities compare.
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