3 Important Actions To Take Before Drafting Your Estate Plan

Every responsible adult should have an estate plan. An estate plan ensures that when you die, all of your belongings go to the appropriate party. Once you have any assets to speak of, or children to look after, you should have an estate plan. Here are four important steps you should take in preparing your estate plan. #1 Create an Inventory Before you head to the lawyer's office, you need to spend some time making an inventory of your assets as well as your liabilities. [Read More]

Getting Married This Summer? 4 Tips To Get Ahead Of Your Taxes

If you are getting married this summer, you are going to want to make sure that you and your spouse spend some time thinking about the tax implications of getting married. After you get married, there are a few things that you are going to want to do right away in order to make tax season easier next year. #1 Change Your Name If one or both of you is choosing to change your name, you need to make sure that you let the Social Security Administration know. [Read More]

Financial Tips For New Cannabis Dispensary Owners

If medical or recreational cannabis is legal in your state and you are opening a dispensary to get in on the ground floor of this growing industry, then these tips will help you manage the financial aspects of your new business: Tip: Understand U. S. Tax Code 280E Since cannabis is still classified as a Schedule 1 drug under United States law, your dispensary falls under U. S. Tax Code 280E. This section of the tax code regulates how you are able to deduct expenses for your business when filing its federal income taxes. [Read More]

4 Valuable Reasons To Get Started On Your Income Taxes Early

As the new year starts, it's time for another season to begin. What season? Income tax season. And while those words don't fill most people's hearts with glee, there are several good reasons to embrace the start of tax season and get a jump on filing now.  What are those reasons? Here are the top four. Time to Work. Getting all the deductions and credits to which you're entitled can sometimes require a little extra work. [Read More]