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On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a stimulus bill that includes a loan program to keep small businesses afloat during mandated COVID-19-related closures.…
1. IRS IRS will waive interest and penalty charges for 90 days for Americans who owe up to $1 million in taxes. Tax filing due date is not extended so filing is encouraged by April…
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…
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…
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…
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…
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…
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…
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…
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budget bill (S.B. 77) with no tax increases; however, S.B. 87, a budget trailer bill accompanying the budget bill, repealed the teachers’ credit…
