Federal, state, and local governments are announcing economic aid and loan programs to assist small businesses impacted by COVID-19 (coronavirus). These include: U.S. Federal government (IRS): https://www.irs.gov/coronavirus?utm_source=Summit+CPA%2C+Inc.&utm_campaign=f247223cfa-EMAIL_CAMPAIGN_2020_03_22_02_30&utm_medium=email&utm_term=0_c3b50b8184-f247223cfa-356485491IRS tax filing and payment deadlines extended to July 15, 2020: https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020Federal government (SBA loans): https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources State of California: https://oewd.org/covid-19-small-business-resiliency-fundNew 4/2/2020: Gov. Newsom announces additional
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How to Avoid Tax Audits by Incorporting Your Business
Updating my 10-year old post, How to Avoid an IRS Tax Audit: Incorporate Your Small Business, the IRS’ own most recently available data (for tax year 2017), show that, for a taxpayer with $100,000 or more in gross revenue, the chances of being subjected to an audit vary substantially based on whether the business…
Out-of-state Online Retailers Now Required to Collect California Sales Tax
As a result of the U.S. Supreme Court’s Wayfair decision, starting 2019, California will require remote sellers with no presence in the state to register and collect and pay over to the state sales taxes (technically, “use tax”) on sales made to California consumers. This requirement will apply if the seller has made 200 or…
FTB Loses in Out-of-State LLC "Doing Business" Tax Case
The recently created California Office of Tax Appeals (OTA) has issued a ruling in the Satview case against the Franchise Tax Board (FTB)’s position that a 25% member of a California limited liability company was “doing business” in California and subject to California’s minimum annual corporate franchise tax. The OTA found that passive ownership, without…
California Supreme Court Ruling Makes Independent Contractor Classification More Difficult
The California Supreme Court has made an important change to employment classification law for California employers, that will make it more difficult for companies to appropriately classify workers as independent contractors. The new “ABC” standard is simpler but more strict than the prior classification scheme. In order for the company to properly classify a worker…
SCOTUS Rules for Employee Arbitration Class Action Waivers
The Supreme Court has resolved a conflict amongst the U.S. Federal Circuit Courts, and once again the Ninth Circuit has been overruled. This time it was for SCOTUS to confirm that class action waivers in employee arbitration agreements are enforceable (if properly drafted). The Supreme Court had previously ruled these as enforceable in consumer arbitration…
Suspended Corporations and LLCs Lose the Right to Conduct Business in California
Jonas M. Grant was recently quoted as a California corporate law subject matter expert in an article in an online journal covering Los Angeles real estate news:[The] corporation … continues to conduct business even though the state of California suspended its registration over two months ago. Operating without a valid registration is illegal under California…
Why don't TV/film studios and producers accept unsolicited material?
Why Do TV Networks Have ‘No Unsoliciated Materials’ Policies? One reason:LAWSUITS. Networks do not want to get sued because you thought they stole your idea. When creators pitch an undeveloped idea anybody could have come up with … they think a show that has anything do with their idea was stolen from them. For instance,…
Screenwriters: How to Find An Agent
ScreenwritingU is offering a free teleconference on a topic many new screenwriters have lots of questions about – how to land an agent. Sign up here.