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Dec 2016How Will Assembly Bill 2883 Impact Workers’ Compensation Policies?
Business owners be aware: the passage and signing of Assembly Bill 2883 comes with a lot of changes to workers’ comp. Assembly Bill 2883 (AB 2883) requires that all business workers’ compensation insurance policies will now cover certain officers and directors of private corporations, as well as working members of partnerships and limited liability companies that may have been excluded in the past. Prior to…
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Nov 2016Company 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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Oct 2016ITINs: A Chance to Participate in the U.S. Tax System
The influx of foreign nationals, non-resident foreign nationals, and immigrants into the United States each year is a demographic phenomenon that has been at the centerpiece of our political and economic discourse for an overwhelmingly large part of our history as a nation. There are a myriad of reasons foreign individuals come to the United States, but for most, the appeal is undeniably the economic…
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Sep 2016Mark 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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Sep 2016How Can A 529 Plan Help You Save For College?
First things first, a 529 plan is a state or educational institution savings plan created to help families save for college! Almost every state has an available 529 plan, and they can be used to help with the cost of qualified colleges all over the nation. Not sure if your college qualifies? Take a look at the list of eligible institutions here. So, how do…
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Sep 2016One Major Tax Law Every Homeowner Should Know About
Planning on selling your home? You may qualify for a deduction that every homeowner should know about. The $250,000/$500,000 exclusion is an extremely valuable tax law for homeowners. So, how do you know if you qualify? First, you must own and occupy your house for at least two years before you sell it. This can include condos, apartments, mobile homes, as well as stock-cooperative. If…
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Aug 2016“Brexit”: How Might It Affect The U.S. Economy?
The United Kingdom’s “Brexit” from the EU might not actually occur until 2019. Britain’s government said that it has been too “chaotic” to start with what would be a two year long process. On June 23rd, the nation voted to leave the EU, but it is having trouble deciding when would be the best time to activate “Article 50,” which is the clause that will…
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Aug 2016Are 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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Aug 2016Stay 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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Jul 2016How Will San Diego’s Earned Sick Leave and Minimum Wage Ordinance Affect Your Business?
On June 7, 2016, the future of San Diego’s labor laws were left in the hands of the citizens as they took to the polls to take part in a city-wide referendum that would change both the minimum wage floor as well as increase the accrued paid sick leave an employee could receive from an employer. Essentially, the referendum allowed voters to either vote “yes”…