Starting a business rarely begins with a strategic checklist of all of the resources necessary to run and scale successfully. Rather, many, if not most businesses start because the founder has a passion or skill that is exceptional and in-demand
Continue Reading What Every Business Owner Needs to Know
We are grateful to our client, Vince B., for sharing his story of how we were able to help him weather an EDD audit. This audit could have closed his business and had far-reaching repercussions for his personal finances as
Continue Reading Vince B. EDD Audit Case Study
Employment Development Department (EDD) and California Contractors State License Board (CSLB) audits both expose your business to fines and penalties if the agency finds you noncompliant with the strict regulations and policies they have in place for classifying 1099 independent
Continue Reading The Difference Between EDD and CSLB Audits
General contractors who hire unlicensed workers and unlicensed subcontractors put themselves at risk for potential criminal action by the local District Attorney (DA) and they risk receiving a stop work order from California Contractor State Licensing Board (CSLB) if and
Continue Reading Recent Construction Site Sweeps Explained
The Internal Revenue Services (IRS) works swiftly when taxpayers fail to pay taxes on time, or at all. Failure to pay or late payment of taxes triggers an IRS notification to you or your business of noncompliance, and outlines the
Continue Reading Tax Liens: What are They and How to Avoid One
When determining whether your workers should be classified as employees or independent contractors, it’s critical to ensure that you are closely following the Employment Development Department’s (EDD) strict guidelines.
On the simplest level, proper classification is determined by whether or
Continue Reading Right of Control: Who has it and How Does EDD Determine 1099 Status?
Paying taxes is required for the workforce and for businesses. No one wants to pay more taxes than required, but purposefully avoiding these payments can open your business up to criminal tax liability. While there are legal loopholes to pay
Continue Reading What’s the Difference Between Tax Fraud, Tax Evasion, and Negligence
Anytime you file taxes, there is a chance that your tax return might be audited by the Internal Revenue Service (IRS). The agency conducts standard procedures to find any errors or discrepancies among taxpayers. The audit process is meticulous and,
Continue Reading Top 7 Most Common Questions About IRS Audits
In mid-May, the U.S Treasury Department announced that they would require any transfer of $10,000 or more to be reported to the Internal Revenue Service (IRS). This update comes in response to growing concerns with regard to cryptocurrency compliance.
While
Continue Reading Why IRS is Redirecting Their Focus Towards Cryptocurrency Tax Evasion
In early May of this year, the Biden Administration officially made the decision to revoke the previously adjusted Trump era ruling on independent contractor classification.
Earlier this year, in January 2021, the Trump administration took advantage of the opportunity
Continue Reading Biden Administration Revokes Employer Friendly Independent Contractor Test
