Author: Martin Kreshon
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Why You Should Transfer Property to a LLC Before Renting
So, you’ve got a fantastic property in the Evergreen State and you’re ready to jump into the rental game. That’s great! But before you hand over the keys and start cashing those rent checks, there’s one critical step you might be skipping: transferring that property into a limited liability company or LLC. While it may…
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Understanding Washington’s Real Estate Excise Tax Exemptions
Buying or selling real estate in Washington typically triggers the obligation to pay Real Estate Excise Tax (REET) on the sale price. This tax is imposed on the seller and can represent a significant cost in any property transfer. However, not every transfer is a taxable “sale.” Washington law, specifically RCW 82.45 and the corresponding…
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Confessions of Judgment
In Washington, a confession of judgment is a legal tool where a debtor admits to a debt and authorizes a creditor to obtain a court judgment against them without a lawsuit. This can happen before or after a lawsuit is filed. It’s essentially a pre-authorized judgment that can be filed with the court if the…
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Baskets & Caps
When businesses change hands, the journey can be full of unknowns. From a buyer’s perspective, what if the financial records aren’t as tidy as they seemed? From a seller’s perspective, how long will they be on the hook for potential problems with the business they just sold? This is where tools like baskets, deductibles, and…
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Lending a Hand or Getting Burned? The Crucial Role of Security in Promissory Notes
Let’s say a friend, family member, or even a business associate needs a loan. Perhaps they pitch it as a business investment. You’re willing to help / invest, and you’re smart enough to know that a simple handshake isn’t going to cut it. You’ve decided to use a promissory note – excellent choice! This legally…
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Washington Tax Law Updates (2025)
Several important tax legislation updates were made in the 2025 legislative session. These changes may impact your business’s operations and financial planning. Key updates include: We strongly encourage you to review the full details of these legislative changes to understand their specific implications for your business and consult with your tax advisor or accountant to…
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Hidden Risk: Personal Liability When Your Trade Name Masks Your Legal Entity
Imagine you’ve poured your heart and soul into building your small business. You’ve crafted a catchy trade name, designed a compelling logo, and are finally signing contracts with clients and suppliers. You feel like you’re operating professionally, establishing your brand in the marketplace. But what if the very trade name you’re so proud of could…
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Protect Yourself & Your Business With a Service Agreement
Protect Your Business: Why Service Agreements Are Non-Negotiable Business owners, from skilled tradespersons fixing leaky pipes or installing roofs to a sharp consultant guiding strategic decisions, face inherent risks. While your expertise is invaluable, without a solid service agreement, you’re leaving yourself vulnerable to misunderstandings, financial losses, and even legal battles. Think of a service…