The new Washington State payroll tax is here. Washington State recently became the first state in the nation to establish a state-run long-term care trust fund, which will help pay for long-term care and support services for eligible individuals over 18 years of age.

What does this mean?

Starting on January 1, 2022, employers must begin collecting a 0.58% payroll tax on W-2 employees’ compensation, with a few exceptions.

That means all wages, bonuses, paid time off, severance pay, and stock options are subject to the tax -- and there is no cap on the income level for the payroll tax.

Do I have to participate? Well, for most part, yes.

However, if you are a W-2 earner that is subject to this payroll tax there are a few possible ways to opt out, during a very narrow, one-time, opt-out window.

You are a W-2 employee who already has a long-term care insurance policy in place through your employer, or

You are a W-2 earner who currently has or will have an individual long-term care insurance policy (or a LT Care rider on your life insurance policy) approved and in place by November 1, 2021.

In both scenarios:

The policy will need to provide equal or better benefits than those available through the state program, and

You will need to apply to the Employment Security Department between Oct. 1, 2021 and Dec. 31, 2022 for an exemption.

It is important to note that exemptions are permanent – no changing your mind later.

I spoke with Brent Anderson, a certified long term care insurance professional about this new law and some of the options available outside of the state-run long-term care insurance system.

Listen in to learn a bit more about the Washington State payroll tax.

P.S. If you want more information, learn more at WA Cares Fund site

YOLOing with Jet the Gerbil and Business Leadership

While the term YOLO -“you only live once” - has been around for years and has come back more recently (thank you, Drake).  The phrase means different things to different folks, but this past year YOLOing has taken on a new face, mirroring the self-reflection some of us have gone through in deciding how we want to live our lives, at least for now.

However, for many it has also been accompanied by unexpected opportunities to do things a little bit differently than normal. It inspired many of us to rethink our priorities and allowed some of us to seize the moment and choose new types of adventures.

Michael Keller, former Chief Marketing Officer at Dairy Queen and CEO of Pearson’s Candies, interpreted YOLOing this way – by becoming a first-time children’s book author.

The Legend of Jet the Gerbil is the true story of an amazing pet gerbil, his human, Michael, and the fast-paced journey that unfolded years ago.

So, how does one go from an accomplished senior executive to a published children’s book author?

Find out in this podcast and learn how Michael overcame his trepidations to pull together a children’s book during a global pandemic.

Listen in – this podcast has lessons for us all!

Dr. Brant Carroll is the owner of Eye Associates Northwest PC, a specialized healthcare practice with a team comprised of ophthalmologists, optometrists, and opticians.

Will sat down with Brant to talk about how technology and government regulation are impacting the practice, how Brant got started 25 years ago, and what's coming next in the world of specialized healthcare.

About Eye Associates Northwest PC

"Eye Associates Northwest is the combination of two successful Seattle group ophthalmology practices: Eye Associates of Seattle and the Eye Clinic of Seattle. Eye Associates of Seattle and the Eye Clinic of Seattle had roots in practices established by individual physicians in the 1930s. Dr. H. Frederick Thorlakson opened his office in the Cobb Building in 1931, specializing in eye, ear, nose, and throat. Dr. Carl D. Jensen began his ophthalmology practice in the Medical Dental Building in 1934. Eye Associates Northwest, PC was later incorporated in Seattle in 1993, after the two groups merged. Today, Eye Associates Northwest provides both general ophthalmology care, as well as specialty eye care. Our mission is to provide quality eye care with care, concern, and compassion for each of our patients. We remain committed to continuing improvement in quality through adaptation of technological advances and continuing education."

Learn more about Eye Associates at their website.

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Seattle Business Builders with TCM Models

Terri Morgan is owner of TCM Models, a modeling and talent agency that provides a boutique approach, a personalized atmosphere, and hands-on coaching.

Will sat down with Terri to talk about how she came to own the business 40 years ago, how she scouts talent, and how TCM Models has adapted to the industries many changes over the years.

Learn more about TCM Models at their website:

"Since its establishment in 1979, TCM Models & Talent has been a major industry presence in the Pacific Northwest. With a diverse roster of models and talent, we are able to remain committed to our goal of developing high quality models and talent to best meet the needs of our clients. This "boutique" type approach to the way our agency is run, also lends itself to a more personalized atmosphere when developing new models and talent. Allowing us to give our models and talent the hands-on coaching they need to prepare them for this highly competitive industry.

TCM's founder and director is Terri C. Morgan. As a former model, Terri saw the need in the market to develop quality models that could be an asset for clients instead of a challenge. Terri's experience as a model also gave her the unique opportunity to learn the expectations of both sides of the business, therefore giving TCM an edge in serving models, talent, and clients. TCM is located in the heart of downtown Seattle, providing us access to our major clients and area photographers. Our facilities also enable us to offer on-sight workshops, go-sees and castings for our clients."

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Episode 7 Synopsis

Haley Keller is the cofounder of Peddler Brewing Company, a microbrewery with a tasting room and large beer garden located in the Ballard neighborhood of Seattle, WA. Will sat down with Haley to talk about how she and her husband Dave decided to make their brewing hobby a business, how they found their space, and what's coming next.

About Peddler Brewing Company

Learn more about Peddler Brewing Company at their website.

"Peddler Brewing Company is a microbrewery with a tasting room and large beer garden located in the Ballard neighborhood of Seattle, WA.  At Peddler, we strive to be a gathering place for beer lovers and support bicycling as an awesome way to get around our beautiful city.  Owners Haley and Dave Keller spend their time making and selling beer, advocating for cycling, and riding bikes, so in a word, they’re Peddlers."

"Owners Haley and Dave Keller combined their love of riding bikes, brewing, drinking beer, and desire to own a business when they opened Peddler in March of 2013.  They spend their time making beer, advocating for cycling, and riding bikes, so in a word, they’re Peddlers.  Peddler Brewing Company started with a 7-barrel brewhouse and upgraded in June 2014 to a 15-barrel brewing system that now has eight fermenters.

Dave’s younger brother Mike Keller joined the team in July of 2014 to sell and distribute kegs and bottles to local bars, restaurants, and stores.  Peddler Brewing Company’s environment is unique to the Ballard area.  At Peddler, we pride ourselves in providing genuinely friendly customer service, supporting and building our local community, and creating an environment that feels like a natural extension of your own living room or back yard."

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Episode 6 Synopsis

Janis, Krijn, and Judy are the three co-owners of Queen Anne Book Company. Will sat down with the trio to talk about how they stepped in after the previous owner of the business closed down, what it's like working together, and how the independent book seller market is growing and changing.

Learn more about them at their website.

About Queen Anne Book Company

"Welcome and thank you for visiting our website, which is part of our bookstore in the center of Seattle’s Queen Anne neighborhood. We opened on March 1st, 2013, following the closure of the previous bookstore that had been here since the late 80s.

If you can't remember the exact title or author of "that" book you've been wanting to read, we are here to help you. And please come visit us at our shop, a warm, cozy hangout, with treasures to be found on every shelf, for every person.

We are all passionate about books, and love our neighborhood and community. We love to share our knowledge and are happy to help you find the book you want and need, anytime.  There is no greater reward for us than to see your smile when "that" book is found. We are proud to be part of our community in Seattle's Queen Anne neighborhood. Help make ours a caring and thriving community."

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Diana and Steve are the founders of Sip and Ship, Seattle's trusted and reliable shipping center and community hub. Will sat down with the two of them to talk about how the business got its start, how they've persevered through a recession, and what the future looks like for woman-owned businesses in Seattle.

Learn more about them at their website.

About Sip and Ship

"Established in 2002, Sip and Ship is women owned, family operated, team oriented and community minded, providing unparalleled customer service, through a variety of services including private mailbox rentals, virtual mailboxes, client fulfillment and notary services.

This multifaceted business is a coffeeshop and gathering place and shipping center keeping people connected with an aim to assist and share kindness in small ways everyday. Sip and Ship empowers families, working professionals and ambitious individuals who want to get more done in less time with greater speed, efficiency and care.

​Sip and Ship is your place to drop off pre-paid online returns, pick up mail and packages, find unique cards and gifts and enjoy your favorite coffee beverage - made just how you like it.

​With two locations to serve you in Ballard and Greenwood, team Sip and Ship looks forward to solving whatever has brought you through its doors and strives to be a positive spot in your day."

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Scott Cooper is the founder of Blue Highway Games, a Seattle board game store that offers an alternative to electronic media with a carefully curated game selection and a community of like-minded customers. Will sat down with Scott and Amanda Erven, the store manager, to discuss how the business was born out of a job at Microsoft, how it’s grown, and what the future holds.

Learn more about Blue Highway games by visiting their website.

"Blue Highway is a retail store and community space located in the Queen Anne neighborhood of Seattle. We specialize in board games, puzzles, trading card games, and their wide assortment of accessories. Whether you are a board game or puzzle enthusiast, a light dabbler, or simply a curious browser;

We have a little something for everyone!

Our monthly and weekly events are open to the community. These events are a wonderful place to learn new games and meet people. The community play space is open during store hours and the library is free to use for customers and locals to gather to play games and spend time with one another.

We also sell snacks and drinks at our snack bar for your enjoyment during store hours and events.

Our store's tag line is "Unplug and Reconnect" because we believe it is important to take breaks from our digital lives and focus on fostering our relationships. Playing board games and solving puzzles is a great way to do that!"

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Ben Mawhinney is a co-founder at Wonderland Gear Exchange, which is an outdoor gear consignment shop that is positioned to take advantage of a major national trend - recreational equipment re-use. Will sat down with Ben to learn how the business got its start, how it overcame some challenges (including a burglary!) along the way, and what the future looks like.

Learn more about them at their website.

About Wonderland Gear Exchange

"Our names are Nate and Ben. We don't usually have mustaches, but we like that they make our adventure buddies laugh, especially when we're having some Type II Fun. Wonderland Gear Exchange is a passion project for us that began, like some good ideas, on a long snowy car ride from Seattle to Stanley, Idaho. That trip led to countless planning sessions at the kitchen table, opportunities to hear the stories behind similar shops around the country, and generally learning that an idea is a lot easier than a plan. Despite the obstacles, we believe deeply in the three principals below, and we are eager to keep working hard to make this the kind of used gear store that the Seattle community deserves."

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Ben Mawhinney is a co-founder at Wonderland Gear Exchange, which is an outdoor gear consignment shop that is positioned to take advantage of a major national trend - recreational equipment re-use. Will sat down with Ben to learn how the business got its start, how it overcame some challenges (including a burglary!) along the way, and what the future looks like.

Learn more about Wonderland Gear Exchange at their website.

Subscribe at: