Being a small business owner can be at once rewarding and challenging. Having the IRS overseeing financial transactions and facing the possibility of losing assets to IRS seizure only makes matters more difficult. Under what rule does the IRS seize business assets? As a general rule under the Bank Secrecy Act of 1970, banks are …
New law helps business owners avoid asset seizure by the IRS Read More »
Businesses have been put on notice that, once a group of 76 new inspectors are trained, OSHA plans to inspect more businesses for jobsite safety violations. U.S. Secretary Alexander Acosta in April personally informed a House Appropriations subcommittee that OSHA inspections will become more frequent than they currently are. The hiring freeze President Trump placed …
As the 2019 California Legislative Session comes to a close in mid-September, employers around the state are closely monitoring two bills that may impact their employment processes. Senate Bill 218 (SB 218) and Assembly Bill 170 (AB 170) are two bills that focus on employee discrimination and how that discrimination must be handled by employers. …
How can you protect your assets in private equity mergers and acquisitions? As these deals have grown larger and more frequent over recent years, investors have stumbled as often as they’ve succeeded. You don’t need to let this fact discourage you, but you should take it as a reminder that you need to start with …
Protecting your assets in private equity mergers and acquisitions Read More »
The recent changes in the Federal Overtime Rule have not only raised the salaries of many non-exempt (paid hourly) but also have changed the rules for overtime payments as well. Under the new rules, any employee who does not qualify for as exempt from overtime rules will be considered a 40 hour per week employee, …
The Final Overtime Rule, Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales and Computer Employees is set to take effect, leaving many executives and employers wondering how it will impact their current business structure. What does the implementation of the Final Overtime Rule mean? When the new rules go into effect, the …
Building a solid reputation for your business is crucial for a company to survive and stay competitive in your industry. The trust that you build with customers and vendors will not only affect the way the public views your company, but also your company’s bottom line. The more your customers trust your company, the more …
Business lawsuits can ruin your bottom line and reputation Read More »
The duties and responsibilities of accountants and business law attorneys often overlap. Sometimes, the lines become so blurred that it’s difficult to see when professional legal help may be necessary. If there is ever any question concerning whether to involve legal counsel, accountants should always err on the side of caution. Be aware of confidentiality …
Accountants: There are times to refer your client to an attorney Read More »
Oftentimes, tax and financial issues can intersect with legal issues. It can be tempting for accountants and financial planners to field legal questions in an effort to better meet the needs of their clients. However, doing so may cross the line into providing legal advice. Unless the person giving the advice is a licensed attorney, …
CPAs and financial planners shouldn’t offer legal advice Read More »
The responsibilities of accountants, financial planners and lawyers often overlap. When these parties work together, the results can be harmonious. You can rest assured that you’re receiving thorough, well-researched advice concerning your tax, financial and legal affairs. However, if these parties aren’t communicating, you or your business could suffer. Overlooked tax implications or issues with …
Accountants, financial planners and lawyers should work together Read More »
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