People are often confused about what assets make up their estate, and how the Oregon estate tax applies to those assets. Below, we delve into these issues to help you better understand whether or not your estate will pay a tax after you die. What…
Background to Portland’s Renter Additional Protections The city of Portland estimates that more than half of renters are paying more than 30% of their monthly income towards rent. Almost half of Portland’s population consists of renters. In October 2015, in response to rapidly rising rent…
As with many legal questions, the answer is: “it depends.” In order for a will to be validly executed, Oregon law requires that a will be (1) in writing, (2) signed by the testator (or person making the will), and (3) signed by two witnesses…
Around this time of year, many people search for ways to give back to their communities, donate to local charities, or make gifts to their families and loved ones. Unfortunately, this altruistic intent can often leave people confused and overwhelmed with the tax consequences of…
Last week, Attorney General Jeff Sessions released a formal memorandum effectively withdrawing the Cole Memorandum. As you may recall from our earlier posts, the Cole Memo directed the federal government not to use it’s limited resources to police robustly regulated state-legal cannabis. Under the direction of the Cole Memo,…
On December 22, 2017, the Tax Cuts and Job Act was signed by President Trump, signaling a sweeping legislative reform of the federal tax code. In November, we discussed how the new tax bill would affect pass-through entities, so now we will turn our attention…
Starting this Friday, new rules will take effect for Oregon’s industrial Hemp Program. This rule change is the result of SB 1015, which was passed by the Oregon Legislature this summer. Oregon law defines industrial hemp as “all nonseed parts and varieties of the Cannabis sativa…
In the 2017 Legislative Session, the Oregon Legislature passed SB 1057, which requires growers, processors and dispensaries registered under the Oregon Medical Marijuana Program (OMMP) to start utilizing the Cannabis Tracking System (CTS) in 2018 (with the exception of medical patients growing for their own…
One of the most common misconceptions when it comes to estate planning is assuming that the planning ends once the estate plan is signed. While this may be true with a simple will (which still needs to be updated after major life changes), the same cannot…
Yesterday members of the Trump administration, Gary Cohn and Steven Mnuchin, outlined the broad strokes of President Trump’s tax proposal. Included in the proposal are plans to reduce the seven tax brackets currently in place to three, dramatically lower the tax rate for businesses, double the standard…