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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”…
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Jul 2016How To Know If You Owe Gift Tax
Are you a generous person? If you’re someone who loves the act of gift giving, you may have heard of the gift tax. The federal gift tax applies to those who have given large gifts or sums of money to friends or relatives. Here’s how to find out if you’re one of the lucky few that has to pay gift tax. The first thing to…
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Jun 2016Is Student Loan Debt Holding You Back?
Everyone knows that putting money away for retirement is a smart idea. But what if something was standing in the way of building that nest egg? A recent poll from AICPA shows that student loans have been directly affecting adults in the United States that are trying to save for retirement. The poll states that half of those that either have student loans or who…
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May 2016Worker’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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Apr 2016Deadline 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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Apr 2016Saver’s Credit: How To Know If You Qualify
Do you currently put money into an IRA or 401k? If so, you may qualify for the Saver’s Credit! This credit may not only reduce the tax you owe, but it also can help you save for retirement. Those who qualify for the credit must be at least 18 year old, not a full time student, and not claimed as a dependent on someone else’s…
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Apr 2016Get Prepped: 2016 Tax Information
With tax season in full swing, we’re sure the last thing you want to think about is next tax season. However, the IRS recently announced the annual inflation adjustments for the 2016 tax schedule, and it’s definitely information worth knowing. Tax rate schedules, tax tables, and cost-of-living adjustments are all on the list. Take a look at the images below, courtesy of Forbes, for…