Protect Your Business With Good Records Management
At some point, the records management policies and practices of all businesses are tested. Thus, it is critical that businesses have a comprehensive records management policy and that managers and staff have a complete understanding of such policies and procedures. Not surprisingly, California law requires employers to keep certain records for specific amounts of time. Failing to do so could subject your business to monetary liability. If your business does not have updated records management policies, accomplishing that goal should be a priority. Your records management policies should be created with guidance from legal counsel who can discuss the industry-specific [...]
Preparing for the Future: Business Interruption Insurance
The Thomas Fire and ensuing mudslides devastated our community and caught many businesses by surprise. In addition to the tremendous damage and loss of life they wrought upon us, these disasters have demonstrated the importance of having a good business insurance policy. Standard business interruption insurance policies typically cover profits, fixed costs, temporary relocation, reimbursement of extra expenses and civil authority ingress and egress service interruption. Understanding what your insurance policy covers and what it does not is crucial for the survival and prosperity of your business during and after a disaster. Indemnity Periods One of the biggest issues affecting [...]
Tax Cuts and Job Act Business & Corporate Tax Strategies (Form Your Corporation Today!)
Taxes… Taxes… Taxes are at the forefront of our conversation. Are you a winner or a loser under the new paradigm? How do you better your positioning; change your business structure, your estate planning? Businesses and corporations are clearly winners under the Tax Cuts and Jobs Act (Tax Cuts Act). Businesses Preferred. Our country’s federal tax structure was inverted by the Tax Cuts Act - - corporations and pass-through entities (subchapter S corporations, partnerships, and sole proprietorships) were given lower tax rates than individuals, making corporations and business entities attractive as tax saving vehicles. And with pass-through entities, those tax [...]
Small Business Year-End Checklist
As 2017 draws to a close, it is time to start planning for 2018. As a small business owner, now is a good time to check the legal aspects of your business to ensure you in good standing. Here are a few items every small business should complete as part of your year-end legal checklist. Incorporate Your Business If you haven’t already incorporated your business, now is a good time to consider whether it is the logical next step for the growth of your business. The main advantage to incorporating is personal asset protection. Unlike the sole proprietorship, [...]
New California Labor/Employment Laws for 2018
The current legislative session is now at a close. Governor Brown has approved or vetoed the bills sent from the legislature. Unfortunately for employers, this year was fairly active for labor and employment laws. Below is a partial list, not exhaustive, of the biggest developments from this year’s new laws. Unless otherwise noted, these laws become effective January 1, 2018: AB 168 – Salary History Restriction It will now be unlawful in California for any employer, including state and local governments, to ask applicants about their prior salary, compensation, and benefits. An employer may only consider prior salary information the [...]
New California Laws Make Housing a Priority
At the end of September, California enacted a number of new bills intended to make it easier for developers to build affordable housing projects throughout the state. What do these mean for central coast residents, developers, and investors? SB 35 - Streamlined Local Approvals for Affordable Housing California requires local jurisdictions to develop long term plans for meeting existing and projected housing needs for their region. To this point, local jurisdictions have been required to set these goals, but there is neither a carrot nor a stick offered to help meet them. That is about to change, at least for [...]