As we look into the second quarter of 2020, the question that remains on many business owner’s minds is: will the rules outlined in AB-5 stand in the face of coronavirus? Concerns around the new criteria for worker classification outlined in Assembly Bill 5 were common at the start of the year, and many business owners chose to reclassify large portions of their workforce as W-2 wage earners rather than their previous classification of a 1099 independent contractor.
Tax season is officially in full swing. For those in the small business world, there are a lot of questions surrounding the recent 2017 Tax Cuts and Jobs Act and how those changes to the tax code could positively or negatively affect this year’s filings. These are some of the biggest changes seen in three decades and the overall result is a big win for small businesses. We looked at the changes and pulled out the five most important tax changes for small business owners.
Contingency planning for the 1 in 100 situations that can arise may seem like catastrophic thinking, a waste of time, or farfetched, until a widespread virus disrupts supply chains the world over. Having a Plan B can be the difference between dying intestate and losing all you and a partner had worked for and having the time and space to deal with unexpected crises knowing the business is taken care of.
- Corporate Governance
- Business Documentation
- Tax Planning
- Buy/ Sell Agreements