Trump Accounts officially opened for funding on July 4, 2026, and the IRS closed out June with guidance that removes a major planning headache for families. Here’s a quick update…..
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Shannon & Associates Joins HLB Communities Day 2026
On June 4, our team stepped away from spreadsheets and tax returns to do something a little closer to home. Shannon & Associates took part in HLB Communities Day 2026,…..
Washington Estate Tax Law Update
A bill updating the WA estate tax exemption and estate tax rates was recently signed into law by Governor Ferguson. The changes take effect for deaths on or after July 1,…..
IRS Extends Washington Disaster Tax Relief Deadlines to August 5, 2026
The IRS recently expanded and extended disaster tax relief for taxpayers impacted by the severe storms, flooding, landslides, and mudslides affecting Washington State. Eligible individuals and businesses in FEMA-designated counties…..
Why You Should Stop Mailing IRS Checks. And What to Do Instead
We recently worked with a client who received an IRS underpayment notice for a quarterly estimated tax payment they knew had been made. Naturally, this raised immediate questions. We confirmed the check…..
Employee Benefit Advisor Winter 2026
Get Ready for the Roth Catch-up Requirement: What Plan Sponsors Need to Know to Prepare for the 2026 Changes The Roth catch-up contribution requirements will take effect January 1, 2026…..
Short-Term Rental “Tax Loophole” Claims: What You Need to Know
Recently, TikTok and other social media platforms have circulated videos claiming that a “new law” created a major tax loophole for short-term rental (STR) owners—allowing large deductions, bonus depreciation, and…..
Important 2024 Year-End Tax Planning Actions for Businesses
With the year-end quickly approaching, it is time to start thinking about moves that may help lower your business’s taxes for this year and next. Based on the results of…..
SECURE 2.0 Enhanced Retirement Plan Tax Credits
Secure 2.0 included several tax credits related to retirement plans. We wanted to let you know about two of those credits. Small Plan Startup Credit This credit has been around,…..
Navigating the Changes: Federal Estate and Gift Tax Exclusion for 2024-2025
In the realm of estate planning, we want to bring to your attention an important change that is coming, one that demands attention and strategic action. The Federal estate and…..