Business and Finance

What has the IRS cooked up for us this year? I was reviewing some of the tax changes for 2020, and it seems like the big changes came last year as part of the Trump administration’s Tax Cuts and Jobs Act. What did get my attention were some cautionary items...

California has passed legislation that could help hundreds of thousands of independent contractors become employees. It would provide the opportunity to earn a minimum wage, overtime pay and other benefits. Yet this legislation is highly controversial. Uber, for one, doesn’t think the law’s provisions apply to its drivers. They’re just...

Peter Rothstein likes that his job has a social purpose. It expands clean energy to mitigate climate change. Best of all, he will soon be able to support that mission in his retirement plan. Socially conscious investing is gaining ground. Identifying 401k offerings that support environmental, social and governance (ESG) factors The...

The government is responding to statistics showing that current generations are not saving for retirement. Unlike their thrifty parents, many baby boomers are alarmingly ill-prepared for retirement. Many other employees are more focused on present financial needs than future ones. The implications of generations of people who are unable to...

Many employers have been happily leveraging Facebook’s detailed demographic data to target exclusively younger candidates in their job ads. The result? Once again, Facebook has found itself in the headlines for all the wrong reasons. In this case, the company was the focus of an age discrimination lawsuit These detailed data fields...

“Hello. This is the Internal Revenue Service. We’re calling about your 2017 tax returns. Please call us back as soon as you receive this message to avoid further penalties.” What? Who wouldn’t freak out when receiving a voicemail like this? We all get spam and scam phone calls. Most of them...

Ask tax professionals, and they’ll tell you that this year may be the most grueling tax season in memory. The shutdown.The IRS is “on shaky ground after the 35-day shutdown that began in late December”, said former Internal Revenue Service Commissioner Mark Everson. The Tax Cuts and Jobs Act of...

Older workers who feel threatened by millennials in the workplace just received more bad news. A federal law barring age discrimination in employment applies only to those currently employed--not those new applicants who may be applying for a job. Seeking candidates with no more than seven years of experience The plaintiff in the...

Small business owners may be looking forward to a tax break in the new year. The GOP tax plan was hastily engineered and rolled out to benefit big corporations--not small business owners. Now a 20% deduction is available to entrepreneurs—but there are limits. You may qualify for the break if...

Many small business owners think forming an entity is just for the big guys, but there is a number of reasons why small business owners and entrepreneurs should think about forming a corporation or limited liability company, and it has everything to do with personal liability protection. Sole Proprietorships: the easiest...

In our youth-driven culture, we hear more about people losing jobs because they’re too old than we do about those over 50 who are launching new businesses. In the UK, however, this demographic is thriving. An estimated one in five people over 50 is self-employed—a higher proportion than for any...

Many of our business formation clients are like “Joan”, who came in to our Oakland office to talk to us about incorporating her bookkeeping business. Joan was in her late 50s and had had a good job in the accounting department of a large corporation for more than 20 years....