Hunt & Associates P.C.

Feb 23, 2017

Cover Your Tail – Protecting Against Personal Liability of LLC Members After the Company Dies

FailureOne of the principal benefits of a limited liability company is the insulation it provides its members against personal liability for company debts.  It is, however, possible to lose that protection against personal liability.  One situation where the members and managers can expose themselves to personal liability for company debts is when the company is dissolved and the members assume responsibility for paying the company’s remaining debts, winding up its affairs and distributing the company’s … Read more

Jan 23, 2017

The New Year Brings Some Changes to Estate Planning

Tax - 012317With the change of the calendar to a new year, there are some changes in the law which might be of interest to you and even impact your estate plan.  For example:

  • In the State of Washington, the “applicable exclusion amount” has increased from $2,079,000.00 to $2,129,000.00. By statute, the change in the exclusion tax is calculated by reference to the Seattle-Tacoma-Bremerton metropolitan area October consumer price index (CPI).  So, a Washington resident who dies
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Jan 6, 2017

Dona Eis Requim; If They’d Only Thought Ahead

GraveA recent Washington case illustrates why it’s prudent to specify how and where you want your body disposed of after death if you really want to rest in peace ever after.

Kyril Faenov left a wife and two young children when he committed suicide.  His widow and her father arranged and paid for the burial of his remains in a Seattle cemetery.  However, Kyril had forgotten to leave written instructions concerning his place of burial … Read more

Dec 20, 2016

King County’s Publicly Employed Dumpster Divers

dumpster-1517830_1280In a recent act of performance art, illustrating that city and county governments may truly be the sewers of American politics, King County Washington is now sending its employees out digging through residential garbage in the early morning hours when they’re least likely to be discovered.  Residents have found men outside their homes at 5:30 in the morning going through their garbage with flashlights. The highly-paid King County public servants engaged in this dumpster diving … Read more

Dec 9, 2016

Poetic Justice? Federal Tax Revenues and Spending

taxes-646511_1280Even if it may not be poetic justice it is certainly ironic that to the extent the federal government redistributes federal tax revenues it receives from each state in federal spending among the federal states, the biggest losers are the states which consistently vote for candidates who support higher federal taxes.

While it’s generally accepted that American conservatives and “Red States” generally favor lowering levels of taxes while American liberals and “Blue States” generally support … Read more

Nov 3, 2015

Mistaken Erosion in the Confidentiality of Taxpayer Information in Washington

INTRODUCTION

Small words can make big differences. For instance, when a court ignores an “or” and replaces it with an “of”, bad things can happen. A recent ruling by the Washington State Board of Tax Appeals (“the Board”) which guts Washington’s statutory provisions safeguarding the confidentiality of taxpayer returns and information shows why knowing the difference between “or” and “of” and demonstrating a basic level of reading proficiency should be required before anyone can interpret … Read more

Aug 12, 2015

Anti-SLAPP Statutes: Now Held Invalid in Washington and should be Invalidated in Oregon

In Davis v. Cox, 183 Wn.2d 269 (2015), the Washington Supreme Court held that Washington’s Anti-SLAPP Law, RCW 4.24.525, violated the state constitutional right to jury trial of civil cases and the First Amendment right to petition government under the United States Constitution. As this note will briefly show, the court’s rationale in Davis for invalidating the Washington law is equally applicable to the analogous Oregon Anti-SLAPP Law.

Summary of the Washington and Oregon Anti-SLAPP Read more

Jul 16, 2015

Almost ABLE: An Update on Savings Accounts for People with Disabilities

This past January, we told you here about recently enacted federal legislation, the Achieving a Better Life Experience Act of 2014 (the “ABLE Act”), which allows persons with disabilities to establish tax favored savings accounts which can be used to pay for expenses related to their disabilities.

Persons who became severely disabled prior to their 26th birthday may establish an ABLE account, to which anyone can make a contribution. The total annual amount … Read more

Dec 31, 2014

The Threat of a State Capital Gains Tax in Washington

As everyone knows, Washington has no state personal income tax while Oregon imposes a 9% personal income tax on all income earned in the state. Oregon makes no distinction between sources or kinds of personal income in applying its tax. The net effect of this difference can be dramatic. For instance, sale of a capital asset such as shares of corporate stock worth $10 million will result in a $900 thousand Oregon income tax obligation … Read more

Jul 12, 2012

The Washington Supreme Court Stumbles Over Disclosure of B&O Tax Charges in Sales

A recent Washington Supreme Court case illustrates the extent to which the increasing convolutions of statutes and case law often lead to absurd results. In Peck v. AT&T Mobility, 174 Wn.2d 333 (2012) the Washington Supreme Court grappled with a question of statutory interpretation which only existed because of its own earlier misreading of a statue to mean more than the statute says.  Rather than resort to a straightforward and reasonable interpretation of the statute … Read more