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1302, 2017

With the New Year Comes California’s New Laws for Employers

By | February 13th, 2017|Categories: News, The Advisor|Comments Off on With the New Year Comes California’s New Laws for Employers

Every January, employers must become familiar with new employment laws that have been passed at the state and local level. Below is a brief summary of some of the most relevant, in my opinion. Should you have questions about any of these new requirements, please contact any member of our Labor and Employment Practice Group for guidance. Good luck in 2017! Minimum Wage: By 2022, California's mandatory minimum hourly wage will be $15 for businesses with more than 25 employees. To get there, starting Jan. 1, 2017, minimum hourly pay rose from $10 to $10.50. There is no state-mandated increase [...]

1101, 2017

FIVE TIPS FOR A GREAT START TO 2017

By | January 11th, 2017|Categories: News, The Advisor|Comments Off on FIVE TIPS FOR A GREAT START TO 2017

January 2017 There is no shortage of helpful year-end advice for small business owners.  Yet, for many of my clients, December is already too busy with holidays and vacations to focus on the legal needs of their business.  With the busy holiday season behind us, the new year presents a wonderful opportunity to review those areas of your business that might need some legal attention. Here are five legal areas I recommend my small business owner clients give attention to in order to start the year off right.   Think about how you classify your workers. How you classify your [...]

1312, 2016

ADR to the Rescue

By | December 13th, 2016|Categories: News, The Advisor, The Advisor Video|Comments Off on ADR to the Rescue

“ADR” is the acronym for Alternative Dispute Resolution -- usually mediation and/or binding arbitration as a means of resolving legal disputes.  BFAS has been promoting ADR instead of litigation, especially in the employment law arena, for years. Now, however, we are convinced that ADR has become an essential ingredient of any well-run business.  I can briefly explain why with two words – litigation avoidance.  Any employer that has suffered through even one employment-related lawsuit understands. The legal expense necessary to defend, the business interruption to both your operations and personnel, and the one-sided attorney fee shifting process can combine to [...]

1212, 2016

ADR to the Rescue

By | December 12th, 2016|Categories: News, The Advisor|Comments Off on ADR to the Rescue

December 2016  “ADR” is the acronym for Alternative Dispute Resolution -- usually mediation and/or binding arbitration as a means of resolving legal disputes.  BFAS has been promoting ADR instead of litigation, especially in the employment law arena, for years. Now, however, we are convinced that ADR has become an essential ingredient of any well-run business.  I can briefly explain why with two words – litigation avoidance.  Any employer that has suffered through even one employment-related lawsuit understands. The legal expense necessary to defend, the business interruption to both your operations and personnel, and the one-sided attorney fee shifting process can [...]

1811, 2016

California Marijuana Legalization: A Goldilocks Moment for the Pot Business?

By | November 18th, 2016|Categories: News, The Advisor|Comments Off on California Marijuana Legalization: A Goldilocks Moment for the Pot Business?

November 2016 Twenty years ago, California voters were the first to decriminalize the use of medical marijuana. Tuesday, those voters approved Proposition 64, making California the largest single market for “legal” recreational marijuana use in the United States. With certification of that vote by the Secretary of State, the Adult Use of Marijuana Act will become law in California. Nationwide, the passage of Prop 64 and ballot initiatives in other states means that marijuana is now decriminalized at the state level, for either medical or recreational use, for more than one in five Americans. Federal law remains unchanged, however. Marijuana [...]

1110, 2016

IRS Continues to Move Forward with Changes to Limit the Tax Benefits of Family Controlled Entities

By | October 11th, 2016|Categories: News, The Advisor, The Advisor Video|Comments Off on IRS Continues to Move Forward with Changes to Limit the Tax Benefits of Family Controlled Entities

Family controlled entities, which often take the form of a limited partnership or limited liability company, (FLP) are useful estate planning tools to help consolidate the ownership of multiple assets into one or more investment entities. The FLP is treated as disregarded a entity for income tax purposes and also provides estate tax advantages by allowing for substantial valuation discounts of the fair market value of those investments.  As part of this strategy, a family member contributes an asset to the FLP and then subsequently gifts fractional interests in the FLP to other family members.  Because these fractional interests generally [...]