Washington State Department of Revenue launches new tax credit February 2023

The Working Families Tax Credit could give qualifying individuals up to $1,200.

Are you between 25 & 65?

Are you single with no dependants & your AGI fall below 16,480? one dependant and below 43,492? two dependants and below 49,399? three below 53,057?

Are you married with no dependants & your AGI fall below 22,610? one dependant and below 49,622? two dependants and below 55,529? three below59,187?

This Could be you!

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Property Tax Exemption for Senior Citizens and People with Disabilities 

Click the link below to learn more

2025 Law Changes

• Child Tax Credit increased to 2,200 per eligible dependent under the age of 17

• SALT - deduction increased from a cap of 10,000 to 40,000  (This may impact those with higher property tax that could not itemize only because of this cap)

• Tip Income - Deduct up to 25,000 of qualified tip income (one of the biggest things to know is you MUST have a log book)

• Overtime - Deduct up to 12,500 of qualified overtime pay (Reported on W2 beginning 2026) 

• For those with Digital Assets (Virtual Currency) - Most brokers are now required to report sales on a Form 1099-DA. Forms are due to be mailed late January. It is important to note: they are not required to report Basis. Be sure to verify basis before submitting numbers to the IRS as your gains may not be accurate.