Beginning January 1, 2016, the new standard IRS mileage rates are: $0.54/mile for business miles driven; $0.19/mile for medical or moving purposes; and $0.14/mile for service to charitable organizations. Employers that use the standard IRS rates for employee reimbursement purposes should review and adjust their expense reimbursement policies to be consistent with these new guidelines…. Read More
Posts Categorized In: General Business
SEC Adopts Rules to Allow Crowdfunding
Last Friday, the SEC adopted final rules to allow companies to offer and sell securities through crowdfunding. These new rules are designed to give smaller companies access to additional investment options and, in addition, to provide investors with additional protections. As I discussed in a prior blog post here, crowdfunding is a method of raising… Read More
401k Options for Small Businesses are Improving
Only 14% of employers with fewer than 100 employees offer a 401k plan. That’s because 401k plans generally are expensive and require considerable paperwork and other maintenance. That’s especially true for smaller 401k plans — because they hold fewer assets, they generate less trading fees and have less negotiating power, which results in higher set-up,… Read More
Los Angeles Raises Its Minimum Wage to $15/Hour
On Saturday, June 13, 2015, Los Angeles Mayor Eric Garcetti signed into law a measure that would gradually increase the city’s minimum wage to $15/hour. Under this new law, in July 2016 the minimum wage in Los Angeles will increase to $10.50. Each year thereafter, the minimum wage in Los Angeles will further increase to… Read More
New IRS Mileage Rates for 2015
Beginning January 1, 2015, the new standard IRS mileage rates are: $0.575/mile for business miles driven; $0.23/mile for medical or moving purposes; and $0.14/mile for service to charitable organizations. Employers that use the standard IRS rates for employee reimbursement purposes should review and adjust their expense reimbursement policies to be consistent with these new guidelines…. Read More
SF and Oakland Pass Laws Raising the Minimum Wage
The California statewide minimum wage is currently $9.00 per hour. It will increase to $10.00 per hour on January 1, 2016 as a result of the passage of AB 10, which I blogged about here. But local jurisdictions are always free to set higher minimum wages, and that is exactly what voters in both Oakland… Read More
Q2 2014 Halo Report Shows Decline in Angel Investing
Silicon Valley Bank, the Angel Resource Institute, and CB Insights just released their Q4 2014 Halo Report. The report shows that angel investment for the quarter has decreased, with the median round size ($600K) down 39% from Q1 2014 levels ($990K). Other notable findings include: — Internet, healthcare, mobile, and telecom deals constituted almost 70%… Read More
Governor Brown Signs AB 2617, Further Restricting Arbitration in California
On September 30, 2014, California Governor Jerry Brown signed AB 2617. This new law prohibits mandatory, pre-dispute arbitration agreements in contracts for goods and services, to the extent the agreement purports to waive rights provided by California Civil Code 51.7 (the “Ralph Civil Rights Act”) and/or 52.1 (the “Bane Civil Rights Act”). No person can… Read More
Governor Brown Signs AB 802 Requiring Arbitration Companies to Disclose Private Arbitration Stats
On September 30, 2014, California Governor Jerry Brown signed AB 802. Under this new law, which takes effect on January 1, 2015, private arbitration companies (e.g., AAA, JAMS) will be required to collect and publish certain information about private arbitrations they administer. The previously private information which must now be made publicly available includes: 1…. Read More
“Wage Theft” a Nationwide Problem?
“Wage theft” occurs when an employer confiscates an employee’s tips or otherwise fails to properly pay an employee. It has long been recognized as a problem in California. That’s why Governor Brown signed one of the nation’s first wage theft laws, AB 469, back in 2011. You can find my prior blog post about that… Read More