Clearing the Smoke: Navigating Conflicts in Federal and State Marijuana Laws

By WealthCounsel Staff on Mar 31, 2023 11:00:00 AM

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Last month, the Washington State Senate approved Bill 5123, prohibiting a business from refusing to hire a worker due to a positive drug test that screens for nonpsychoactive cannabis metabolites. If it is signed, Washington, which has legalized the recreational use of marijuana, will join a handful of other states that have enacted similar legislation prohibiting adverse employment action for workers’ off-duty marijuana use. Although marijuana is illegal under federal law, an increasing number of states are decriminalizing marijuana use for medicinal and recreational purposes. As a result, workplace policies may need to be adjusted.

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New Federal Reporting Requirements for Business Entities: Are Your Clients Ready?

By WealthCounsel Staff on Mar 24, 2023 10:00:00 AM

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Starting January 1, 2024, millions of small businesses that form after that date will be required to report identifying information about their beneficial owners and company applicants to the federal government under the Corporate Transparency Act (CTA). The following year, businesses that formed before January 1, 2024, will also be required to meet the CTA’s reporting requirements. 

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Business Succession Planning: Techniques and Considerations

By WealthCounsel Staff on Feb 24, 2023 10:00:00 AM

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Experienced and effective leadership is a key component of long-term business success. However, only 35 percent of businesses have a formalized succession plan—a startling statistic considering that retiring Baby Boomers will comprise the largest exit from the workforce in US history. Whether you own your practice or advise business-owning clients, succession planning is vital to ensure a smooth transition. Keep reading to learn some top techniques and considerations to keep in mind.

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