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CALIFORNIA SOLE SHAREHOLDER/CORPORATE OFFICER EXCLUSION FROM STATE DISABILITY INSURANCE FOR 2 YEARS

By Webmaster | February 13, 2020

In a private corporation, any person who is a corporate officer and sole shareholder, or the only shareholder other than his or her spouse, may file a statement electing to be excluded only from State…

Secure Act

By Webmaster | January 20, 2020

THE SETTING EVERY COMMUNITY UP FOR RETIREMENT ENHANCEMENT ACT OF 2019 (THE SECURE ACT) TITLE I: Expanding and Preserving Retirement Savings Section 101. Expand Retirement Savings by Increasing the Auto Enrollment Safe Harbor Cap The…

How Much Can Businesses Deduct for Vehicles Placed in Service in 2019?

By Webmaster | December 20, 2019

Does your business need to add one or more vehicles? If so, the purchases may qualify for tax breaks under current tax law. Here are the details. First-Year Depreciation Breaks The Tax Cuts and Jobs…

Penalty for No Health Insurance 2020 in California

By Webmaster | December 10, 2019

The State of California is working to reduce the number of uninsured families with the adoption of a new state individual health care mandate. Here are three things California residents need to know: 1. Make…

ASU 2019-10 : Amendments to Subtopic 842-10

By Webmaster | November 23, 2019

The FASB has issued ASU 2019-10, which amends the effective dates for three major accounting standards.  The ASU defers the effective dates for the credit losses, derivatives and leases standards for certain companies. Please find…

Minimum Wage Ordinance

By Webmaster | July 17, 2019

Dear client; CHLK is taking this time to thoroughly explain which minimum wage ordinance your business should follow.   If your business is located inside the boundaries of City of Los Angeles, then you must…

[Tax Update] Trump’s Tax Reform

By Webmaster | January 8, 2018

Both the House of Representative and Senate passed the final version of the Tax Cuts and Jobs Act, which will be in effect beginning 2018. Brief summaries of new tax laws are as follows: The…

California –Corporate, Personal Income Taxes: Budget Bill Signed; Teacher’s Credit Repealed; Collection Fees Set

By Webmaster | August 29, 2017

Ending a six-week stalemate, California Governor Arnold Schwarzenegger has signed the state’s budget bill (S.B. 77) with no tax increases; however, S.B. 87, a budget trailer bill accompanying the budget bill, repealed the teachers’ credit…

SSA is reminding employers on several issues: SSA PIN reminders

By Webmaster | August 29, 2017

2007 Changes to the EFW2 & EFW2C Social Security has changed the name of publications Magnetic Media Reporting and Electronic Filing of W-2 Information (MMREF-1), and Magnetic Media Reporting and Electronic Filing of W-2c Information…

Mid-size Corporations are Required to File Their Returns Electronically

By Webmaster | August 29, 2017

E-filing: Corporate returns: Form 1120: Form 1120S. The September 17 deadline is approaching for corporations that have requested extensions to file. Last year, only large corporations were required to file electronically. This is the first…