It’s a brand new year… Does your business structure support your business goals?
It’s a brand new year… Does your business structure support your business goals?

Solid legal structures based on setting up the right business entity and working with customized contracts are essential for business success. But is your business structure outdated based on where you’re at today? The legal structure you originally set up has worked for your business to this point, but each year brings numerous changes to tax laws, employment laws, and other areas that may impact your business and its liability implications. As we continue to grow and evolve in our business, it’s always a good idea to check in with your business attorney, accountant and tax advisor regarding where your... READ MORE

Required California and Federal Labor Law Postings (effective January 1, 2022)

Every California employer is required to display current California and Federal Labor Law postings at each company facility; physically posted in conspicuous places in the workplace, such as break rooms or other common areas, where employees can easily read them. Remote Employees: In addition to physical postings at the company facility, employers with remote employees who work entirely from home, must mail hard copies of the required employment notices to the employees homes where they can be posted. If the remote workers periodically report to a physical location, notices must also be posted and visible in that location.  Employers have... READ MORE

New Employment Laws For California Employers in 2022

The Governor has signed into law several new pieces of legislation effective January 1, 2022.   Here are the changes that impact your business. Minimum Wage Increase in California Minimum wage for California workers of Employers with 26 or more employees will increase to $15.00 per hour.  For employers with 25 or fewer employees, minimum wage will be $14.00 per hour. Note that for the City of Los Angeles, minimum wage is $15.00 per hour regardless of the employer’s size. (Related Article: Be sure to read about required California and Federal Labor Law Postings and how it includes remote employees... READ MORE

Employer Covid-19 Vaccination Mandate: Handling Religious Exemptions

The EEOC (Equal Employment Opportunity Commission) has provided guidance on handling employee requests for exemptions from the Covid-19 vaccination mandate noting that employees must inform their employer of their request for exemption if there is a conflict between their “sincerely held religious belief” and the employer’s Covid-19 vaccination requirement.  Employers should provide information to employees about the application procedures and who to contact to request religious accommodation. Employers should assume that such a request is based on a sincerely held religious belief, but if an objective basis is held for questioning the sincerity of the request or belief, employers may... READ MORE

Does your small business qualify for a home office tax deduction?

Certain home expenses may be deducted on your tax return if you’re running a business from home. While these deductions may not be applicable to everyone who has been working from home during the pandemic (such as employees), there are a few areas to bring up with your CPA or tax advisor when filing your 2021 taxes. First, the home office tax deduction is available to both homeowners and renters, and certain expenses such as mortgage interest, insurance, utilities, repairs, maintenance, depreciation and rent may be deducted. However, there are certain specific requirements that taxpayers must meet to claim home... READ MORE

Legalities of Book Publishing

By Admin November 09, 2021    Category: Business Law

Legalities of Book Publishing

As an entrepreneur, having your own book has a number of benefits in setting yourself apart in your industry and even helping others by sharing your story or experience. Writing a book provides you with credibility, you can call yourself an author, and it opens you up to more opportunities when it comes to being seen in the media or getting speaking opportunities which can also set you up as an expert in your field.  Whether self publishing or working with a book publisher, there are legal considerations you need to be aware of while writing your book, before you... READ MORE

Are your workers employees or independent contractors?

Based on the current laws in place, it’s critical that employers are properly classifying individuals providing services as either employees or independent contractors. Generally speaking, if the business has the right to control the details of how the worker’s services are performed or when and how they will be done, that individual is considered an employee. Whereas, an independent contractor is typically an individual in an independent business, profession or trade who offers their services to the public.  The relationship between the worker and the business can be established by looking at the following categories:  Does the company control or... READ MORE

Enhanced Economic Injury Disaster Loan Program to Help Small Business Facing COVID Delta Variant Challenges

The Small Business Administration (SBA) announced that it is accepting new applications from small businesses still being impacted by the pandemic for its enhanced the COVID Economic Injury Disaster Loan (EIDL) program. Some of the enhancements include increasing the borrowing limit from $500,000 to $2 million with loan funds being used for working capital and normal operating expenses such as payroll, paying debt and purchasing equipment; Offering 24 months of deferment to repay the loan; Expanding eligible use of funds to allow borrowers to prepay higher-interest commercial debt and make payments on federal business debt; and simplifying the application process... READ MORE

Estimated Tax Payments Can Help Business Owners & Self-Employed Avoid Unexpected Tax Bills

As a small business owner, self-employed person or wage earner who may earn income not subject to tax withholding (i.e., your employer withholds tax from your paycheck), you may want to look into making quarterly estimated tax payments to help avoid unexpected tax bills or a penalty. Typically, if one expects to owe $1,000 or more when filing their 2021 tax return, they need to make estimated tax payments. In addition to business owners and self-employed persons, sole proprietors, partners and S corporation shareholders are also expected to make tax payments. Corporations generally must make these payments if they expect... READ MORE

Gross Receipts Safe Harbor for Employers Claiming the Employee Retention Credit

The Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued a safe harbor allowing employers to exclude certain items from their gross receipts solely for determining eligibility for the Employee Retention Credit (ERC). The ERC is a refundable payroll tax credit available to eligible employers whose operations were fully or partially suspended due to a COVID-19 shutdown. Employers may be eligible for the ERC if its gross receipts for a calendar quarter decline by a certain percentage when compared to a prior calendar quarter. This safe harbor permits employers to exclude certain stimulus proceeds from gross receipts... READ MORE