b2ap3_thumbnail_Untitled-design-31.jpgWith the passage of the Tax Cut and Jobs Act and the Healthcare mandate in limbo, it is a difficult time to make big decisions concerning business, finance, and health in the United States. Whether you are already engaged in commerce or planning your entry into business operations (in California or anywhere in the U.S.), you need to know where you stand financially. That goes for both the present and the future. Taxation is obviously a key part of a business’s financial outlook. As such, it is imperative that you utilize the type of business entity that best suits your individual and business needs and goals with regard to income earned over time. General partnerships, traditional corporations, and the increasing popular and oft-mentioned “limited liability” entities are different in important ways. In discerning the entity that is best for you and your business, rely on an experienced Fremont business law attorney.

A Limited Liability Business Entity is a Pass-Through Business Entity

You may have heard of or are already familiar with “limited liability” entities, such as the Limited Liability Company (LLC) and Limited Liability Partnership (LLP). In such entities, income is not taxed at both the business level and the individual level.  Rather, income earned by the business “passes through” the entity to the individual without being subject to taxation. The individual’s income is subject to taxation.  However, the reporting of income and calculation of taxation on pass-through income factors in business expenses and losses. Depending on the complete picture of profits and losses specific to a given limited liability entity, pass-through income may not be taxed as highly as if the income were employment-based, for example, and not passed through from entity to individual. 

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b2ap3_thumbnail_Untitled-design-25.jpgIf you are active in commerce, whether as a part of a sizeable corporation or small business, or merely planning an entrance into the business world, you need to understand how the proposed Tax Cuts and Jobs Act will affect your bottom line. The percentage of tax your business will pay, or the percentage that you as an individual will pay on income passed through a business entity, bears on the scale and scope of your yearly operations. In planning for your financial future in business, count on an experienced Fremont business law attorney.

The Tax Cut and Jobs Act Intends to Permanently Lower the Corporate Tax Rate

If you are on the board of a successful large corporation, you will likely benefit from the Tax Cut and Jobs Act. This is because the legislation intends to permanently lower the corporate tax rate from 35% down to 20%. The President has alluded to a compromise in the 22% range, but this remains to be seen. Either way, with the bill in the final conference-related stage, traditional corporations could soon benefit from a substantial decrease in taxes owed. The philosophy behind this at least initially deficit-increasing measure: to encourage business to remain in the U.S., investing savings in expanded domestic operations and the jobs that would propel them, rather than looking abroad.

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Fremont business law attorneyConfidentiality agreements can protect a company’s secrets, ensure an employee knows what is expected of them, and they can mitigate against problematic employees, right from the date of hire – but are they ever a violation of the federal labor law? If so, when, why, and how? Learn the answers to these questions, and discover how an experienced business law attorney can protect your company’s interest with help from the following information.

Confidentiality Agreements Must Meet Certain Criteria

Although employers are within their rights to request a confidentiality agreement from their employees, there are certain requirements to which they must adhere. For example, a confidentiality agreement cannot be so restrictive that it violates an employee’s rights – and that includes their rights to whistleblower protections.

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California small business lawyerWhen small businesses start up or begin to grow, they may have limited funds to hire outside help. Some may find relief through a telecommuting employee – or someone that works remotely. However, this option is not right for every business or every business owner. Learn more about hiring employees for telecommuting positions, including how to discover if it may be the appropriate choice for your small business.

The Challenges of Hiring New Employees

Small businesses that need to hire outside help may find that wages, along with the additional costs that are typically associated with hiring physical employees, are too much of a burden to bear. Hiring physical employees can also mean moving to a physical location for those that have previously worked from home. Add in the stressors of ensuring that a business is adequately protected from discrimination issues, harassment issues, and other legal matters, and the hiring of a physical employee may be downright impossible for some business owners.

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California business transaction lawyerBusiness mergers, when done right, can be mutually beneficial for all involved parties. However, there are some serious challenges that companies must overcome when dealing with mergers and acquisitions. If not planned for and mitigated against, these obstacles can lead to financial loss, a lack of shareholder returns, and possibly even complete financial devastation. Whether you are interested in purchasing an existing business or believe your business may fare better with a larger brand name behind it, the following information can help.

The Importance of a Unified Vision

When examining a possible merger, companies may find that certain elements are difficult (if not impossible) to measure. However, even when measurements are possible, and data and projections look great on paper, they may not translate into real or actual success. Failure to ensure both companies share a unified vision is often the cause of disastrous outcomes.

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Willett Law Firm

39300 Civic Center Drive, Suite 310
Fremont, CA 94538

Phone: 510-791-2244

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