A Peak at Portland

Rick Walter, CPA
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25 years I have lived in the Seattle area and never ventured down to Portland. I know. Seems silly that I would not have had one vacation, one business trip; a desperate need to hug a tree!

So, when my beautiful wife asked me where we should go for an after tax season get-a-way, I suggested Portland. We left on a Sunday and took the train. It was a great way to travel. We stayed at the Benson Hotel for two nights and every day we walked around the city and ate at little cafes and purchased cool items from unique stores. We spent two hours inside Powell Books – I have a Kindle Fire so I did not make a purchase.

All in all, we had a very good time. My wife even saw a couple of condos she was dreaming about owning; “Wouldn’t it be great to live here in Portland!” I told her, “First things first. Let me see the casinos and the golf courses before we think about such an important decision.”

Just to set the record straight, I would never move to Portland. I am not excited about living in a state where there is an individual income tax. I know the argument – “they don’t have a sales tax” – but I just finished up a return where a client moved from Seattle to the east coast. They make a good living but the additional cost of living in the state they moved to is over $200,000. Live in Washington, keep $200,000. Live in the other state, give up $200,000. Sounds like an easy decision.

This, among other things is a good reason to have a meeting with your CPA when making life changing decisions. Moving to another state; let me give you my thoughts – paper or plastic – you’re on your own.

Thanks for listening and I will talk at you next week.

Author: Rick Walter, CPA

Rick Walter brings over 25 years of professional tax and accounting experience to Hutchinson & Walter. Specializing in small to mid-size business entities and start up organizations, Rick brings a deep understanding of the unique tax compliance and accounting issues specific to those entities.

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