#payroll taxes in california

[championhr]

CA Company Policies: Navigating Champion HR's Comprehensive Services

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source: https://championhr.com/our-services/

[firstcorrfinancialservicesllc]

Firstcorr Financial Services LLC - Benefit From Bookkeeping Solutions California

Employees demanding payroll slips, accounts demanding tax statements, and bookkeeping staff demanding invoices, and everything is rapidly falling apart? Well, if that’s your situation, too, then don’t panic. I have the perfect solution for your problem: outsourcing a bookkeeping solutions California company named FirstCorr to handle all your bookkeeping problems.

Small businesses necessarily don’t have enough resources like money and experience to handle financial matters, which makes them lag behind on some matters of growth. Bookkeeping is the practice of organizing, classifying, and maintaining a record of the company’s transactions on a daily basis.

People have had many myths about financial outsourcing services, but the truth is that with Bookkeeping Solutions California, small businesses can easily get bookkeeping services at affordable rates and of high quality without having to hire someone for the job and pay double the amount.

FirstCorr Financial Services LLC - Outsourcing Payroll Service Company

Payroll management and distribution is a headache is itself when you’ve got to pay the people working under you, but you don’t have much to give back. Payroll management is a crucial component part in the successful operations of a small business as it is the task of issuing paychecks and salaries to their employees.

FirstCorr is a well-known payroll service company that provides financial outsourcing services related to payroll like Payroll Processing, Collect & Submit Payroll Tax Payments, Prepare & Submit Payroll Tax Reports, W-2 Reporting, 1099 Reporting, and many more.

Financial outsourcing is often looked down upon when it comes to outsourcing work, but FirstCorr is a payroll service company that excels in payroll management and organization for small businesses by keeping their management and staff working smoothly without a doubt.

Increase Your Chance Of Growth With Certified Tax Professional California

Running a small business means that you only have time to give your attention to a limited number of things at a time. As small businesses lack experience and a solid financial foundation, it is difficult for them to keep up with the ups and downs of tax filings and returns.

We understand how important it is to pay taxes and how most of your profits and investments are given away due to taxes due to which you’re not able to keep proper track of your tax reports, which affects the company’s investments and expenses.

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[globalbookkeeping123]

Outsource your accounting services to increase the flexibility of your business

Whenever you outsource your accounting and bookkeeping services by hiring well-qualified and experienced virtual assistants, you are helping your own business to grow, and it turns, increasing the flexibility of your business.

[arxarx]

WE OWE THE IRS $19K IN 14 DAYS

FULL STORY ON YOUTUBE

[antifainternational]

If you think the US is going to be FUCKED by Trump's proposed immigration shutdowns/mass deportations, this podcast really explains why that's true. Key takeaways: -Remember the Chinese Exclusion Act? This 1882 law was America's 1st shot at restricting immigration. It was an economic disaster. The number Chinese workers in the US dropped by 65%, which led to businesses - especially in small towns in the West, where the Chinese Exclusion Act was the most popular - shutting down due to the sudden drop in (Chinese) patrons. This, in turn, threw non-Chinese workers out of work. The negative impact of the Chinese Exclusion Act on the US economy lasted 58 years! -Over 20 years of research on the economic impact of immigration found that countries that welcome immigrants reap massive economic benefits from doing so. Five reasons for this: 1) Talent: immigrants typically fill jobs that non-immigrants can't or won't do, or when there's simply not enough workers available to do those jobs. 2) Consumption: Immigrants increase the demand for goods and services, not leaste because they have to replace everything they left behind when they immigrated! But they also introduce new categories of products, services, and brands from their old lives to their new countries. 3) Taxes: Immigrants - even undocumented immigrants - pay sales taxes, payroll taxes, road tolls, etc. So much so that the taxes they pay in their new countries exceeds the amount of government services they use, which means that they actually subsidize government services for non-immgrants! How much? Each immigrant to the US pays out $250,000 more in taxes than they use in services, on-average, over their lifetimes. 4) Investment: For every 1% increase in the number of immigrants in a particular US state, that state is 50% more likely to receive foreign investment from the country those immigrants came from (what, did you think it was a coincidence that California has 72 Jollibee locations?). Also, immigrants are 80% more likely than non-immigrants to start their own businesses in their new countries. 5) Innovation: One out of every three patents in the US are filed by immigrants. Almost half of all Fortune 500 companies are headed by an immigrant or the child of immigrants. Oh and before you go "wHaT aBoUt TeH cRiMeS?" immigrants are less likely to commit crimes than non-immigrants. Kiss all of that goodbye in 2025, America!

[bighermie]

California Business Owners Blindsided by Surprise Payroll Taxes After Newsom, Democrat Legislators Failed to Repay Federal Government Loan on Time | The Gateway Pundit | by Cristina Laila

[partisan-by-default]

In 2019, construction workers raised alarms about a company building luxury apartments in Oakland that appeared to be skirting its financial obligations, both to the state and its employees.

That tip would set off a years-long investigation by the California Department of Justice, which accused the Kentucky-based company, US Framing West Inc., of violating state labor laws at that Oakland site, as well as committing tax evasion and wage theft in several other construction projects across the state, including some that had received public funding.

“While working these projects, we allege, US Framing West failed to pay more than $2.5 million in state payroll taxes,” Atty. Gen. Rob Bonta said at a Tuesday news conference. “We also allege that, at a public works project in Cathedral City, US Framing West also underpaid its workers by approximately $40,000.”

[simply-ivanka]

What the Choice of Tim Walz Says About Kamala Harris

In her first presidential-level decision, the Vice President bends to progressive pressure.

Donald Trump did Democrats a favor by choosing a running mate who reinforced his base rather than reaching out to swing voters. Kamala Harris has now returned the favor in selecting Minnesota Gov. Tim Walz, the progressive favorite, as her pick for Vice President.

The choice that scared Republicans was popular Gov. Josh Shapiro of Pennsylvania, a swing state crucial to an Electoral College victory. But Mr. Shapiro, who is Jewish, was the target of an extraordinary and nasty campaign against him by the Democratic left. He was too pro-Israel and had upset unions by showing rhetorical support for school vouchers.

Ms. Harris appears to have wilted under this pressure, perhaps fearing protests at the Democratic convention in Chicago this month. She went with Mr. Walz instead, and there goes Mr. Trump’s hope of flipping the decisive swing state of Minnesota. That’s a joke, since the Land of 10,000 Liberals has voted Democratic in every presidential election since 1976.

Mr. Walz’s progressive bona fides will please Sen. Bernie Sanders and the teachers unions. But his governing record will be fodder for Mr. Trump. And picking him is a bad omen about the ability, or even willingness, of Ms. Harris to defy her party’s left.

***

Mr. Walz, age 60, has a plain-spoken personality and an appealing Midwestern background. He joined the Army National Guard at 17, graduated from a state college, and became a high-school teacher and football coach. He was elected to Congress in 2006 from a rural district, and one selling point to Ms. Harris is that he might appeal to Trump voters.

But as Governor since 2019 Mr. Walz has moved Minnesota sharply to the left. He still wears a baseball cap and work jacket, but since Democrats gained control of the entire Legislature in 2023, he’s governed more like California Gov. Gavin Newsom, including:

• Increasing taxes, though Minnesota already has the fifth-highest top income-tax rate among the states, 9.85% at $193,000 of earnings for a single filer. Mr. Walz added a 1% surtax on net investment income above $1 million, while reducing deductions, and the Governor wanted more.

Minnesota is a rare state that still levies a death tax, up to 16%, on top of the federal 40% rate, which is one reason the state is losing taxpayers to better climes.

• Making an estimated 81,000 illegal immigrants in the state eligible for driver’s licenses, along with health insurance through the MinnesotaCare public marketplace.

• Funding “the North Star Promise Program, which provides free college for students with a family income under $80,000,” including illegal immigrants.

• Creating a state system for paid family and medical leave, capped at a combined 20 weeks a year and funded by a 0.88% payroll tax.

• Mandating that public utilities generate 80% carbon-free electricity by 2030, ramping up to 100% by 2040. He’s a fervent believer in “climate action.”

• Subsidizing electric vehicles by “requiring EV charging infrastructure within or adjacent to new commercial and multi-family buildings,” as the Governor’s office bragged.

• Passing one of the nation’s most permissive abortion statutes that has essentially no limits and no age consideration for minors.

• Declaring Minnesota to be a “trans refuge,” with a law saying that the state will ignore a “court order for the removal of a child issued in another state because the child’s parent or guardian assisted the child in receiving gender-affirming care in this state.”

• Establishing automatic voter registration and letting Minnesotans sign up for a permanent absentee ballot option.

No wonder Mr. Sanders is a fan. Yet now the vetting will begin in earnest. Mr. Walz’s response to the 2020 riots, after George Floyd’s killing, will be scrutinized in particular, as poor areas in Minneapolis burned and many business owners lost everything.

Did he hesitate to send in troops? Why is Minnesota losing residents to other states? Republicans are circulating remarks by Mr. Walz acknowledging what he calls his white privilege and urging his party: “Don’t ever shy away from our progressive values. One person’s socialism is another person’s neighborliness.”

***

Despite her four years as Vice President, Ms. Harris is largely unknown to most voters. Democrats want to keep it that way, hoping she can dodge media interviews and ride a gauzy theme about “the future” in a campaign sprint of a mere 100 days.

But her choice of a running mate is her first presidential-level decision, and it confirms the views she expressed in 2019 when she ran for the White House as a left-wing Democrat. Choosing Mr. Walz suggests that the real Kamala Harris is the one who wants Medicare for All and to eliminate cash bail. Voters who don’t like Mr. Trump might decide he’s still better than signing up for that.

Appeared in the August 7, 2024, print edition as 'Kamala Harris’s Revealing VP Choice'.

[mariacallous]

The social media company X is closing its San Francisco office “over the next few weeks,” according to an internal email sent out by CEO Linda Yaccarino earlier today. “This is an important decision that impacts many of you, but it is the right one for our company in the long term,” Yaccarino wrote in the email, first reported by The New York Times.

Employees in San Francisco reportedly will be moved to new locations in the Bay Area, “including the existing office in San Jose and a new engineering focused shared space with [xAI, Musk’s AI startup] in Palo Alto,” the note said. The company’s executive team is said to be working on “transportation options” for staff. X did not respond to WIRED's request for comment.

The official announcement comes a few weeks after Musk said in a post on X that he planned to move X and SpaceX headquarters to Texas. X would move to Austin, specifically, Musk said at the time. Bloomberg reported earlier this year that X had already been staffing up a trust and safety team for X based in Austin.

While the state of Texas is known to be more business-friendly than California—it has one of the lowest tax burdens in the US—Musk’s publicly stated reasoning for the move to Texas was more ideological than financial. He said at the time that the “final straw” was a new California law that aims to protect the privacy of transgender children, which he perceived to be “attacking both families and companies.” He also said that he’s “had enough of dodging gangs of violent drug addicts just to get in and out of the building.”

The latest update from Yaccarino suggests it’s the San Francisco office, specifically, that is the thorn in X’s side. And it’s an about-face for Musk, who tweeted a year ago that, despite incentives to move out of San Francisco, X would not move its HQ out of the city. “You only know who your real friends are when the chips are down,” he waxed poetically on X. “San Francisco, beautiful San Francisco, though others forsake you, we will always be your friend.”

The shuttering of the X office marks the end of an era for the company formerly known as Twitter, and for the historic Mid-Market neighborhood that in the 2010s managed to lure in burgeoning tech companies like Twitter, Uber, Spotify, and Square.

Twitter’s earliest offices were in SoMa, or the South of Market neighborhood of San Francisco, until 2011, when then mayor Ed Lee instituted a controversial tax break for tech companies. The ruling erased the 1.5 percent payroll tax for companies that moved into certain Mid-Market buildings. Twitter jumped at the opportunity.

The company was considered an anchor tenant in a densely populated neighborhood marked by homelessness and open drug use. Suddenly an airy, high-end food market, a Blue Bottle Coffee shop, and tech workers with MacBooks and overpriced sneakers dotted Market Street, alongside people in various states of distress camped out in front of still-vacant storefronts.

The end results of Lee’s tax breaks and revitalization plans for the neighborhood are a topic of debate, and the pandemic has been a hugely complicating factor, with reports suggesting that San Francisco’s office spaces are more than a third vacant on average.

Musk, now famously, carried a sink into the Twitter offices just after he closed the deal to buy the platform in October 2022, tweeting, “Let that sink in!” After changing the company name to X in summer 2023, Musk erected a giant, blinking X atop the offices, only to be compelled to take it down days later when the San Francisco Department of Building Inspection received dozens of complaints about the flashing lights and concerns about the sign’s structural safety.

X also was allegedly a poor tenant in the Musk era: Its landlord, SRI Nine Market Square, in early 2023 filed a suit against X for more than $3 million in unpaid rent. SRI Nine Market sought to extend Twitter’s line of credit to $10 million as an assurance that future rent would be paid. Other vendors also have sued X for failing to pay its bills.

But in January of this year, SRI Nine Market dropped the case, Reuters reported. It’s unclear why. SRI Nine Market did not respond to an inquiry on the current state of X’s lease and whether the company would be breaking said lease by vacating its office space in the coming weeks.

[justinspoliticalcorner]

Judd Legum at Popular Information:

As president, Donald Trump's tax policy heavily favored corporations and the wealthy. Trump's signature tax legislation, the Tax Cuts and Jobs Act, overwhelmingly benefited those groups. 

But, as a presidential candidate, Trump campaigns as a populist. In his 2024 campaign, Trump is touting a proposal to end federal taxation on tips. He made the announcement last month in Nevada, a key battleground state with a large service industry that relies on tips.  "For those hotel workers and people that get tips, you’re going to be very happy, because when I get to office, we are going to not charge taxes on tips," Trump said. "We’re going to do that right away first thing in office because it’s been a point of contention for years and years and years, and you do a great job of service."  This week, Trump's proposal to end taxes on tips was one of 20 "promises" included in the official 2024 Republican Party platform: "LARGE TAX CUTS FOR WORKERS, AND NO TAX ON TIPS!" Trump's plan to end taxes on tips may help him politically with service industry workers. His campaign is urging people to write "Vote for Trump for NO TAX ON TIPS!" on their restaurant receipts.

Republicans in Congress have already introduced legislation to implement Trump's plan and end federal taxation of tips. Notably, the bill would only exempt tips from income taxes, and not payroll taxes, which represents the majority of federal taxes owed by low-income workers.  But the proposal, if it were ever implemented, could have a detrimental effect on most tipped workers. The primary beneficiaries would be people who own and operate hotels, restaurants, and other businesses that employ tipped workers — in other words, people like Trump. 

[...] First, many people who rely on tips earn so little money that they already pay no federal income taxes. For example, half of all servers earn $32,000 or less. A server with a family who earns $32,000 does not owe any federal income tax and, therefore, would not benefit at all from Trump's proposal.  The bigger issue is that the federal minimum wage for tipped workers is $2.13 an hour. The tipped minimum wage has not increased since 1991. Combined with tips, these workers are supposed to earn a minimum of $7.25 an hour. That is not close to a living wage in the United States in 2024.  As a result, seven states (Alaska, California, Minnesota, Montana, Nevada, Oregon, and Washington) have eliminated the tipped minimum wage and require all employers to pay their employees the same minimum wage regardless of whether they receive tips. The Biden Administration requires "federal contractors to pay tipped workers the same minimum wages as others." Major cities like New York and Chicago have recently implemented similar policies. Numerous other cities and states are considering following suit. 

Popular Information reports on Donald Trump's faux populist play to end federal taxation on tips. The catch is that this proposed change would apply only to income taxes and not payroll taxes, thereby benefitting the wealthy instead of the workers who rely on tips.

[championhr]

Mastering Payroll Taxes in California with Champion Employer Services

Navigating the labyrinth of payroll taxes in California can be overwhelming for any business owner. Champion Employer Services is here to simplify this process, ensuring your business stays compliant and your payroll operations run smoothly. Understanding the nuances of payroll taxes is essential for avoiding penalties and maintaining a healthy financial environment for your business.

What are Payroll Taxes?

Payroll taxes are taxes that employers are required to withhold from their employees' wages and pay on behalf of their employees. In California, these taxes include federal and state income taxes, Social Security and Medicare taxes (FICA), federal and state unemployment taxes, and California's State Disability Insurance (SDI).

The Components of Payroll Taxes in California

 Federal Income Tax: Employers must withhold federal income tax based on the employee's W-4 form, which determines the amount to be withheld based on their earnings and allowances.

State Income Tax: California requires employers to withhold state income tax. The amount is determined by the employee’s W-4 or DE 4 form and the state’s tax tables.

 FICA Taxes: This includes Social Security and Medicare taxes. Both the employer and the employee contribute to these taxes, which are used to fund retirement, disability, and medical benefits for retirees.

Federal Unemployment Tax Act (FUTA): Employers must pay FUTA tax to fund unemployment benefits. Unlike FICA taxes, FUTA is entirely the employer’s responsibility.

State Unemployment Insurance (SUI): California employers pay SUI taxes to support the state’s unemployment insurance program.

State Disability Insurance (SDI): Unique to California, SDI is a payroll tax withheld from employees' wages, providing short-term disability insurance and paid family leave benefits.

Challenges of Payroll Taxes in California

California’s payroll tax regulations are among the most stringent in the country, posing several challenges:

Complex Regulations: The state’s tax laws are constantly evolving, making it difficult for businesses to stay up-to-date and compliant.

High Penalties: Non-compliance with payroll tax regulations can result in significant penalties and interest charges.

Administrative Burden: Managing payroll taxes requires meticulous record-keeping, timely filings, and accurate calculations, which can be time-consuming and complex.

How Champion Employer Services Can Help

Champion Employer Services offers comprehensive payroll tax solutions tailored to meet the needs of California businesses. Here’s how we can assist you:

Accurate Payroll Processing: We ensure your payroll is processed accurately and on time, with correct tax withholdings and deductions.

Compliance Management: Our team of experts stays abreast of the latest tax laws and regulations, ensuring your business remains compliant with federal and state requirements.

Tax Filing and Payments: We handle all aspects of payroll tax filing and payments, reducing the risk of errors and penalties. This includes filing quarterly and annual returns and making timely tax deposits.

Employee Withholding Management: We manage employee withholding certificates (W-4 and DE 4 forms) and ensure that the correct amount of tax is withheld from each paycheck.

Unemployment Insurance Management: We manage your SUI tax payments and assist with any claims, ensuring your rates remain as low as possible.

 Disability Insurance Compliance: We handle the collection and remittance of SDI taxes, ensuring compliance with state requirements.

Why Choose Champion Employer Services?

Champion Employer Services is a trusted partner for businesses navigating payroll taxes in California. Here’s why you should choose us:

Expertise: Our team has in-depth knowledge of California payroll tax regulations, ensuring your business stays compliant.

Accuracy: We utilize advanced payroll software to ensure accuracy and efficiency in all payroll processes.

 Cost Savings: By managing your payroll taxes effectively, we help you avoid costly penalties and reduce administrative overhead.

 Peace of Mind: With Champion Employer Services, you can focus on running your business, knowing that your payroll taxes are in good hands.

Denouement

Managing payroll taxes in California doesn’t have to be a daunting task. With Champion Employer Services, you can navigate the complexities of payroll tax compliance with ease. Our comprehensive services ensure accuracy, compliance, and peace of mind, allowing you to focus on growing your business. Contact us today to learn how we can help streamline your payroll tax processes and support your business success.

[racefortheironthrone]

Newsom's UI Veto Is a Sign of CA's Dysfunction on UI

Introduction:

While I'm not yet up to a full blogpost, I thought I'd chime in on social media to buttress a point that my colleague Erik Loomis made in regards to Gavin Newsom's veto of the Unemployment Insurance strike bill. While Erik is absolutely correct that Newsom's veto is a pretty nakedly anti-union move, (especially in the wake of a major entertainment industry strike in which management attempted to use the threat of eviction and foreclosure to break the union), I think the veto also reflects the dysfunction in the California Unemployment Insurance system.

California's UI System:

Back when I was a freelance policy analyst in grad school, I had the opportunity to write about a wide range of topics in social and economic policy - and it just so happened that one of those topics was unemployment insurance.

One of the problems with the U.S' social insurance system is that, because UI is a joint Federal-state program that's financed by state payroll taxes that are then forgiven against Federal taxation (or in the case of the pandemic or the Great Recession, Federal loans), there is a powerful incentive for states to under-tax and under-finance their UI systems and rely instead on the Federal backstop to keep the system ticking over.

For all of California's progressive reputation, it actually ranks towards the bottom of the national league tables when it comes to underfunding its UI system:

"Unemployment benefits in California are funded by a payroll tax on businesses, but the tax is so low and generates so little revenue that the state had to borrow $20 million from the federal government to provide benefits during the pandemic. In a veto message, Mr. Newsom said that $302 million in interest is due on the federal loan in September alone. “Now is not the time to increase costs or incur this sizable debt,” he said." (source)

To be fair, California is not absolutely terrible - it's not Texas or Mississippi or Alabama - and a lot of its current predicament has to do with how hard California was hit by the COVID-19 pandemic, but even in good times, California taxes itself so lightly that it routinely owes the Federal government UI money. This creates another reason/excuse for the state government to not follow the California Labor Federation's lead and transform the UI system into something that can fight not just poverty but all forms of economic exploitation.

State Capacity:

Now, to my mind, this only makes it more imperative for the state to get its act together - and a big part of that is adopting labor's proposal for decoupling strikes and starvation through the UI system. As I see it, that goes hand in hand with raising minimum benefit levels, such that UI plus strike pay should allow people to live with dignity even during a long strike of 5-6 months duration, improved administration so that people don't have to wait three weeks to actually get their hands on their own money, and improved financing so that the system as a whole can actually work as an automatic stabilizer in economic crises.

To me, this is the essence of community unionism: we work to improve the lives of our members, and in so doing improve the lives of the entire community.

[globalbookkeeping123]

Outsourcing Accounting and Bookkeeping Services in Hospitality Industry

You can solely manage your restaurant, cafe, food shop or hotel, by delegating your accounting and bookkeeping services to us.

[longwindedbore]

Today’s question: is the current 30-State attack on public schools a result of underfunded public pension plans?

Defunding public schools in favor of Charters and Vouchers would convert any teachers in those schools to private employees. Those teachers would then be covered by Social Security since they would not qualify for the exemption.

Depending on the fund set ups many of these ex-public employees might lose any pension benefits if they aren’t fully vested.

Since public schools spend a third of their budgets on these underfunded pension plans, the municipalities, counties, and states would be out from under the property taxes increases required to fund the shortfalls. As well as the coming fire storm when it becomes apparent they don’t have enough funding for the guaranteed pensions.

As an extra ‘benefit’ in right to work states the exodus of teachers would break the unions. Resulting in the inevitable stifled wages in any remaining school districts.

Perhaps then this attack on schools is not being driven by the Christian Jihadists, though they benefit from it. The Christian Jihadists are attacking public schools as (1) a threat to their Leadership’s profitable trance induced ritualized brainwashing programs and (2) the Laity’s projection of their individual unresolved childhood traumas with their parent(s) onto a “Father-figure” deity who demands they turn every community into a version of Silent Hill or the Taliban s Afghanistan. (“Shhh, don’t wake/ upset Daddy/Mommy or you’ll get the belt/no supper/toys broken/tossed out.”)

But are the Christian Jihadists making those BIG campaign ‘donations’ so critical to getting anything out of a legislative body? Naaaah.

I’m speculating that this attack on schools is being driven by the Proto-fascist representatives who, although elected by the Christian jihadists, only ever serve the vested interests of Big Money.

Big Money is only ever looking to cut taxes…for themselves. Or slurp up some public money they paid the proto-fascists to give them.

——————————————————————-

40 or 50 other developed countries solve the funding of retirement with Social Security for All - including those who work in the home without benefit of paycheck.

In part because after WW2 when these newly liberated countries were resetting up their systems, they believed in the public relations BS the USA was putting out about itself. So these other countries modeled their systems on a propaganda fantasy we created. It’s a good fantasy.

But they also live in countries that don’t have our weird aversion to using public tax funding for the public good.

Nor our inability to understand that - although one payroll deduction is higher than any other national, state, or local tax - the aggregate of all those individual taxes is much higher than that one payroll deduction.

Afterall, in the USA it’s “common sense” that Libertarian Texans pay less taxes than people living in the “tax-loving” People’s Republic of California. Even after several Texas newspapers have pointed out the contrary.

Propaganda - it’s so…propagating