The Construction Industry is poised to continue in growth opportunity as it recovers from the dip in demand during the height of the pandemic. This could be a great time for a business formation, but first one must consider what is the right entity type for your needs. Read more
Since its introduction to law in late 2019 and its application in 2020, California Assembly Bill 5 (AB 5) has remained a contentious issue as some industries have struggled to adjust to the sharp change in employee categorization.
AB 5 relies on a 3-pronged test to determine employment that came about through 2018’s court case Dynamex Operations West, Inc. v. Superior Court of Los Angeles. Commonly referred to as the “ABC Test,” it presents that a worker is presumed to be an employee unless the hiring entity demonstrates all three of the following conditions: Read more
On August 24th, 2022, President Joe Biden announced a sweeping plan to cancel up to $20,000 in federal student loan debt and an extension of the repayment freeze until the end of the year. Debt forgiveness applies only to those earning less than $125,000 a year ($250,000 for married couples). The $20,000 available only to those that received a Pell grant in college. Non-Pell borrowers who meet the income requirements qualify for $10,000 of forgiveness from federal loans.
The Inflation Reduction Act of 2022, H.R. 5376, was signed into law by President Joe Biden on August 16th. Targeting health care, taxes and climate change, the $739 billion legislation includes a package for energy and conservation focused tax credits, tax provisions, and increased funding for the IRS.
In terms of energy incentives for individuals and businesses, the bill provides credits generally applicable for post 2022 returns including: Read more
Tax relief comes to California in the form of 2022-2023 budget bills. On July 5th, 2022, Governor Gavin Newsom signed into law California Assembly Bills “AB” 192, 194, and 195.