Can You Believe Watercolor Financial Started Five Years Ago?

Watercolor painting of Margo Moe by Cass Grange

November 2025



Greetings!

Watercolor Financial: How it started five years ago

Watercolor Financial began with a meeting in Bleckley Dobbs’ backyard. We were deep in the pandemic, and offices were closed all over the world. Megan Poore, Bleckley Dobbs and Cass Grange had worked together for over 15 years and we wanted to form our own business. The financial advisory business had changed. Work was increasingly being done online, by phone, Zoom, using DocuSign. The pandemic, as awful as it was, was an opportunity for us and for our clients.

Finding a name that had not been used in Texas was a challenge. We didn’t want it to be too long, and we wanted it to be easy to spell. Long-time client Bill Evans suggested the name Watercolor Financial. Cass’s son Eric designed the logo. Bleckley offered his home phone number as our office number, and we were open for business in late November 2020.

We talked to all our clients and explained the move. People were enthusiastic about the new venture.

The calendars must be mailed out in a pandemic! Megan and Cass stuffed and mailed the 2021 calendars from Megan’s garage

With our investment in tax software, we can more proactively anticipate the tax ramifications of many financial decisions our clients consider. We use up-to-date technology to analyze portfolios and maintain appropriate cash positions. By switching from managed funds to mainly ETFs and index funds, the internal costs of investing are lower, which may translate to higher returns for some individuals. We continue to streamline the onboarding process for clients while maintaining high security standards. 

You are all such an important part of our journey and our lives. Our life's work is to help you with your transitions; including weddings, funerals, births, new jobs, and retirements. Along with celebrating and honoring the many transitions of our clients’ lives, the three of us celebrated some of our own. In these five years, we celebrated a new son-in-law, a first granddaughter, a college graduation, and a high school graduation. 

SALT Tax Deduction for 2025 May Impact You

Notice one of the biggest tax changes for 2025: The State and Local Tax (SALT) deduction cap increased from $10,000 to $40,000 for most taxpayers as part of the OBBBA in July 2025. You can deduct your property taxes up from $10,000 to $40,000.

• Deduction Limit: the maximum SALT deduction is $40,000 for single filers and married couples filing jointly.
• You must itemize your deductions to claim the SALT deduction.
• Income Phaseouts: The increased cap is subject to Modified Adjusted Gross Income (MAGI) phaseouts for higher earners.
• The $40,000 limit begins to decrease if your MAGI exceeds $500,000 (or $250,000 if married filing separately).
• For every dollar of MAGI over the threshold, the potential deduction is reduced by 30 cents.
• Taxpayers with a MAGI of $600,000 or more (or $300,000 for married filing separately) revert to the original $10,000 cap.
• While Texas is one of 9 states with no income tax, homeowners have local property taxes that may be claimed under the $40,000 limit.

Duration: The higher cap is temporary, and after tax year 2029, the deduction cap drops back to $10,000.

While the math may still favor taking the standard deduction for many, the higher SALT cap could make itemizing an important consideration for more tax filers. It could also mean more tax savings for people who already itemize. So this Spring, as you’re sitting down to do your tax work, it’s worth consulting a tax professional to find out how the new SALT deduction may affect you.

For more information: https://www.fidelity.com/learning-center/personal-finance/SALT-deduction-increase

Access your reports - Visit our web page for links to Fidelity (for access to statements and tax documents) and to the Orion portal (for access to performance reports and billing statements): Watercolor Financial website.

Q4 2025: Quarterly Market Guide

Please review this quarter's market guide by clicking here. We encourage all of our clients to review the market guide written by Rafael Villagran, CIO of Genesia Investments and investment consultant for Watercolor Financial.