Category Archives: Business


Company Records: How Long Should You Keep Them?

01

Nov 2016

Company Records: How Long Should You Keep Them?

Any business’s company records are a crucial part of managing and maintaining a successful company. Not only do they provide detailed hiring practices and compliance with regulations, they ultimately show the amount of taxes a business owes. So, how long should these records be kept? Well, it depends. Take a look at the following types of business records to know just how long you should…

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Mark Your Calendars: CA Sales Tax Rates Decrease, Effective Jan 1st, 2017

29

Sep 2016

Mark Your Calendars: CA Sales Tax Rates Decrease, Effective Jan 1st, 2017

January 1, 2017 – California state sales and use rate will decrease by 0.25% The California State Board of Equalization announced that, as of this date, the 0.25% increase in the statewide sales and use tax will expire. This was approved by voters in 2012 and became effective in 2013. Per prop 30, the statewide rate will drop from 7.5% to 7.25%. While many counties and…

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Are Retail Sales Helping or Hurting Your Business?

24

Aug 2016

Are Retail Sales Helping or Hurting Your Business?

Retail sales have been losing steam in recent months as Americans cut back on their retail spending, showing a growing moderation in consumption. More data indicated the biggest drop in producer prices recorded in almost a year, amongst decreasing costs for energy goods and services. With consumer spending decreasing and inflation stable, The Federal Reserve will probably keep interest rates where they’re at. July’s retail…

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Stay Up-To-Date On Final Overtime Rules

17

Aug 2016

Stay Up-To-Date On Final Overtime Rules

As of December 1st, 2016 the Department of Labor (DOL) has increased the minimum salary requirements for exempt administrative, professional, and executive employees. These exempt employees are immune from the The Fair Labor Standards Act (FLSA), which explicitly states that employers MUST pay their employees at least the minimum wage amount (which varies by state and municipality) for all hours worked. Employers must also must…

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Worker’s Compensation- Is It Absolutely Necessary?

30

May 2016

Worker’s Compensation- Is It Absolutely Necessary?

Worker’s compensation insurance is a required, state-specific law that provides employees monetary relief in the event of any injuries or accidents that occur as a result of employment. In California, employers are required to have worker’s compensation for their employees under Labor Code Section 3700 even if they only have one; employers are not required to obtain worker’s compensation for independent contractors whose services are enlisted by the employer. However, it…

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Deadline Approaching: April 18th is the Last Day to File Taxes

13

Apr 2016

Deadline Approaching: April 18th is the Last Day to File Taxes

Still haven’t filed your taxes yet? Time is running out! Monday, April 18th is the last day to file taxes for 2015. Why the later date? The Capitol will be celebrating Emancipation Day on April 15th, giving you three extra days to get those pesky returns over to the IRS. Estimated tax payments are also due on April 18th. If you need some more time…

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Section 1244 And Everything That Goes With It

29

Feb 2016

Section 1244 And Everything That Goes With It

The Internal Revenue Code tactfully provides US taxpayers with specific forms of relief that are offered through various stipulations found within the code itself. One of these stipulations is section 1244, which allows individuals and partnerships to treat the losses sustained on the sale of small business stock as ordinary rather than capital losses. The difference between ordinary and capital losses is significant. Capital losses…

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Do You Know The Difference Between An Employee And An Independent Contractor?

25

Feb 2016

Do You Know The Difference Between An Employee And An Independent Contractor?

It can get a little tricky sometimes in determining whether someone you consistently hire to perform services for your business is an employee or an independent contractor; not to mention keeping track of the difference in tax treatment between the two. Have no fear, Paragon is here to break it down for you! Employees are defined by the IRS as “anyone who performs services for…

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Everything You Need To Know About Foreign Investors

11

Feb 2016

Everything You Need To Know About Foreign Investors

Typically, a foreign investor, in the eyes of the IRS, includes both nonresident aliens and foreign corporations looking to promote capital formation, employment, and productivity in an environment that is both economically and politically robust. A foreign investor can establish a branch in the United States pretty easily, as long as they obtain a license to do so. They must comply with the applicable state…

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