The Importance of Writing A Business Plan & Its History December is National Write a Business Plan month which is a fitting time for entrepreneurs to be inspired to put a business plan in motion to create the future they desire. On average the 500+ million business owners around the world have at least two to three competitors, so writing or revisiting your business plan before the new year can put you at an advantage above your competitors, help you obtain funding, and have a strategy for reaching customers. Whether your business is new or old, having a plan to... READ MORE
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
Estimated Tax Payments Can Help Business Owners & Self-Employed Avoid Unexpected Tax Bills
By Admin September 14, 2021 Category: Business Law
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
Eligible Employers Can Claim Paid Leave Credit For Employees Providing COVID-19 Immunization Care & Recovery
By Admin September 14, 2021 Category: Business Law
Paid sick and family leave tax credits under the American Rescue Plan Act of 2021 (ARP) are available to eligible employers for providing leave to employees to accompany a family member, household member or certain other individuals to obtain or recover from the COVID-19 immunization. Eligible employers can tax credits for the cost of providing paid sick and family leave for reasons related to COVID-19 including qualified leave wages and certain other wage-related expenses (such as health plan expenses and certain collectively bargained benefits). The ARP tax credits are available to eligible employers that pay sick and family leave for... READ MORE
When you are moving your business into a new space whether an office, industrial or retail location, there are a number of decisions and protections you’ll want to consider before signing a lease agreement with a landlord. The lease agreement comes in many forms and every situation is unique, which is why it’s important for you as the tenant to review the document with a qualified business or real estate attorney. Keep in mind that lease terms are always negotiable. You can assume that the document presented to you by the landlord favors the landlord and of course in many... READ MORE
How to handle contested credit card charges by customers
By Admin June 16, 2021 Category: Business Law
As business owners, sometimes there are clients out there who may try to get out of paying you by contesting a charge for your products or services on their credit card, claiming it as “fraud” to their card issuer or bank. It’s frustrating to think that a customer would go to this extent to not pay you, but it does happen in business. Here’s what you should know and how best to handle a situation like this. Credit card companies don’t control your contract Regardless of what the credit card company does with the charge, whether they credit the customer’s... READ MORE
Be Prepared: Avoid Household Employee Wage and Hour Claims
By Admin April 08, 2021 Category: Business Law
Many families hire workers at their home to provide a variety of services from housecleaning, cooking, child care, as well as elderly care. However, most families are unaware that the same or similar wage and hour laws that apply at places of business also apply to the people who work for them at home. In fact, we have seen an alarming trend of high exposure (Several Hundred Thousand Dollars) domestic worker claims in recent years. Consequently, it is critical that household employers are in compliance with all applicable wage and hour requirements to avoid their exposure to these wage and hour claims.... READ MORE
California’s New Covid-19 Supplemental Paid Sick Leave: What you need to know
By Admin April 08, 2021 Category: Business Law
On March 19, 2021, Governor Gavin Newsome signed a new Covid-19 Supplemental Paid Leave (“SPSL”) into law. The new SPSL is similar to the prior Covid-19 Supplemental Paid Sick Leave law that expired on December 31, 2020. The new law came into effect on March 29, 2021 and applies retroactively to January 1, 2021. The key and important issues to understand are as follows: Covered Employers: All employers with 26 or more employees are covered by the new SPSL. Covered Employees: The new law added 5 additional types of coverages that did not exist in the prior laws. The covered... READ MORE
Running a business is challenging enough despite the additional complications that can come with unforeseen circumstances whether that be a pandemic or sudden need to pivot quickly. The Small Business Administration (SBA) has long noted that 80% of businesses survive the first year, but almost half of the businesses fail by year five. Why is this? Why Many Small Businesses Fail The reason that these small businesses fail, first and foremost, is directly related to lack of business planning. Over the past several years, Chase Law Group has worked with entrepreneurs and small business owners from the time they start... READ MORE