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One of the most important benefits of a corporate structure is that it tends to shield the individuals involved with running the company from exposure to lawsuits and other legal problems. A Limited Liability Company (LLC), for example, limits liability – that is the...
Words like “payroll,” “tax” and “audit” can be a bit frightening for most employers, representing complex compliance regulations, a time consuming and costly legal process and potential legal problems. The prospect of an audit from California’s Employment Development...
Anyone running a business knows the importance compliance and tax reporting requirements. It is critical to understand the various requirements in order to avoid tax penalties and criminal liability. One of the more important requirements involves 26 U.S. Code §...
An important decision every employer must make, with each individual providing any service to the company, is how to classify that person. Whether to classify someone as an employee or an independent contractor is an extremely important decision for employers. While...
State and federal law requires business owners to classify their workers in one of two categories: employee or independent contractor. The designation is important, as it will impact a business’ tax obligations, insurance needs and requirement to pay overtime. The...
To curb economic disruption caused by the pandemic, The White House is pitching an executive order to ease tax liabilities on workers and businesses by giving them a “tax holiday.” The holiday would halt the collection of payroll taxes, temporarily putting...
Taxpayers in California and across the United States have a short time window before the president's tax order goes into effect. But reports suggest many aren't ready for the transition.The deferral begins Sept. 1 and runs through the end of the calendar year....
The responsibilities associated with owning and operating a business are exponential. Whether you disagree with your partner, face an employee dispute or experienced a profit decrease since this quarter last year, every decision you make in your position can relate to...
The California public and legislators have classification of workers on their minds. Employers who violate the separate rules for independent contractors and employees can face stiff penalties and big bills for unpaid taxes and interest. In times like these, clients...
Owning a business that is not performing can be overwhelming. If the business is not generating enough income you may fall behind on required payments.Falling behind on your payroll taxes, however, can have negative consequences for both your business and you...