Monthly Archives: April 2014

New Employment Credit

The New Employment Credit (NEC) is available for each taxable year beginning on or after January 1, 2014, and before January 1, 2021, to a qualified taxpayer that hires a qualified full-time employee on or after January 1, 2014, and … Continue reading

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California Competes Tax Credit

The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California. Any business can apply for the California Competes Tax Credit. The credit is available statewide to all … Continue reading

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Manufacturing Sales Use Tax Exemption

A new law beginning on July 1, 2014 allows manufacturers and certain research and developers to obtain a partial exemption of sales and use tax on certain manufacturing and research and development equipment purchases. To be eligible under this law, … Continue reading

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US Labor Department investigation secures $174,400 in back pay, penalties

WEST COVINA, Calif. — The U.S. Department of Labor has obtained a settlement agreement with West Coast Customs of Corona, Calif., a well-known auto restyling center, and its owner Ryan Friedlinghaus, to pay $157,592 in back wages and liquidated damages to … Continue reading

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IRS Releases Health Savings Account Annual Contribution Limit for 2015

The IRS has released Rev. Proc. 2014-30 procedure it provides the 2015 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code. This revenue procedure is effective for calendar year 2015. Annual contribution … Continue reading

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