Tax Bill Moves To The Senate
Earlier today, the House of Representatives passed a GOP-backed tax bill that reorganizes the individual tax code and provides tax cuts for corporations and businesses. A vote by the Senate could take place as soon as tonight.
Minimum Wage To Increase January 1
Effective January 1, 2018, California employers with 25 employees or fewer must pay a minimum wage of $10.50 per hour, and those with 26 employees or more must pay a rate of $11 per hour. Click here for more information.
Electronic Employment Tax Submission Required January 1
Effective January 1, all California business owners are required to electronically submit employment tax returns, wage reports, and payroll tax deposits to the Employment Development Department (EDD) regardless of the number of employees. For e-file and e-pay assistance or for waiver requests, visit www.edd.ca.gov/e-services_for_business.
Lifeguard Association Reaches Tentative Labor Agreement With City
The City of Long Beach reached a tentative labor agreement with the Long Beach Lifeguard Association (LGA), which represents 24 marine safety officers and more than 180 lifeguards. If approved by the LGA this month, the agreement would go before the city council in February. The agreement approval would mean the city has 10 out of 11 employee associations under contract through September 2019.
IRS Cost Of Living Adjustments Impacting Retirement-Related Tax Items
The Internal Revenue Service announced 2018 cost of living adjustments affecting retirement-related tax items, including the 401k elective contribution limit increasing from $18,000 to $18,500, employees over the age of 50 having the same “catch-up” contribution limit of $6,000 and annual IRA contributions remaining at $5,500.
Goodwill Announces New Southern Los Angeles County Board Chair
Anitra Dempsey is replacing Harry Saltzgaver as board chair for Goodwill, Serving the People of Southern Los Angeles County starting January 2018. Dempsey is a volunteer at Goodwill, serving the organization for nearly 10 years on its marketing and auditing committees. She is the executive director of the Long Beach Citizen Police Complaint Commission. Goodwill also announced the addition of Tim Skillman, a managing director at Deloitte, as the newest board member.
Mattress Recycling Program Released Findings From Its Pilot Year
The Mattress Recycling Council’s Bye Bye Mattress Program collected more than 955,000 mattress and box springs for recycling in 2016, the program’s pilot year. The initiative is funded by a recycling fee collected from the sale of mattresses and box springs in California. The program’s efforts include establishing free drop-off locations and collection events in the state, and then transporting the products to recycling agencies. The program also recycles mattresses collected by landfills, hotels, universities and other places that discard a large number of them. The first annual report for the project found that it re-routed about 29 million pounds of steel, foam, fiber and wood from landfills.