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…
Today, the House of Representatives passed its own tax reform bill that includes $1.5 trillion in tax cuts for individuals, corporations, and other business entities. Although the bill is far from becoming law, as the House and Senate bills must be unified, successfully voted on,…
Business Succession Planning Small business owners need a plan for what will happen to the business after they pass away. It’s a difficult issue for most over-worked entrepreneurs, especially for owners with multiple heirs who may not all agree on how the business should be…
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…
Since attorney general Jeff Sessions was confirmed by the senate on February 8, there has been a lot of speculation about the future of recreational cannabis. Such speculation has risen from Sessions’ disparaging statements regarding cannabis use, such as when he stated “good people don’t use marijuana.”…
With tax season in full swing, now is the time when companies like Turbotax or H&R Block start bombarding your inbox with advertisements for “free” tax return services. The only problem is that often when you click through the ad for “free” services, they aren’t actually…
With 2016 drawing to a close, it’s about this time of year that people start to think about their New Year’s Resolutions. Common resolutions include things such as eating healthier, losing weight, saving money, or getting more organized. However, according to a University of Scranton…