Misclassification of Workers
California recently passed new laws that impose civil penalties ranging from $5,000 - $15,000 per employee, and $10,000 to $25,000 per employee in instances involving a pattern and practice of misclassification. The other major part to these penalties, is that this is not just targeting Employers, but also the third parties that "advise" the employers to classify workers as independent contractors, such as Accountants, and outside consultants. This law undermines the recent program that the IRS has initiated.
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SB 458
California Governer Jerry Brown signed SB 458 into law on July 15, 2011. SB 458 extends the protections of SB 931, to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans. Keep in mind, this applies only to short sales and not foreclosures.
Short Sale
1099 Rules Change
Many business owners probably did not realize the significant impact the Health Reform Bill passed back in March would have on their business. What you didn’t know was that there was 1099 rule changes included in the bill that would help the Government track unreported income more efficiently and provide them with an estimated additional $345 Billion in tax revenues. How exactly are they planning on doing this? Well, here are two changes that you should know:
1099's
Client Spotlight – The Shrimp Guys
For all the shrimp lovers out there, we have the perfect place for you! The Shrimp Guys create Hawaiian inspired shrimp dishes to satisfy anyone’s seafood cravings. What’s better is that they are mobile and travel around LA and Orange County cooking up some of the best shrimp around. If you want to give The Shrimp Guys a try, they will be at the LA County Fair starting this Saturday, September 4th, and if you can’t wait until then, check out their website at theshrimpguys.com to see their menu, find out where the truck is located each day, and sign up to follow them on twitter!
Shrimp Guys
