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September 2023 Business Owner Updates

The Lobb Report – September 2023 Business Owner Updates

Authored by Mark Lobb Welcome to the September version of The Lobb Report.  The California legislative session ended on September 14.  There have been major changes in employment laws but no major new tax laws.  There are three separate ballot initiatives which are significant when it comes to tax increases which I will discuss in […]

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Incomplete Non-Grantor Trusts The Past, Present and Future

Incomplete Non-Grantor Trusts
The Past, Present and Future

Authored by Mark Lobb At the end of June 2023, the California Senate and Assembly passed legislation which will eliminate the use of incomplete non-grantor trusts (ING or INGs) to prevent California taxpayers from incurring California state tax under certain circumstances (SB 131).  California SB 131 tracks New York legislation (Part Q of the Fiscal

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The Past, Present and Future
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The Lobb Report - June 2023 Business Owner Updates

Lobb Report – June 2023 Business Owner Updates

Authored by Mark Lobb Incomplete Non-Grantor Trusts Update Recent Lobb Reports have discussed the potential demise of the use by California residents of incomplete non-grantor trusts (INGs). The 2023-2024 California budget proposed treating INGs as grantor trusts so California could tax certain income incurred by the INGs. At the time of this writing, both the

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What Happens When a Bank Fails and Will FDIC Insurance Save Your Assets?

What Happens When a Bank Fails and Will FDIC Insurance Save Your Assets?

Authored by Mark Lobb In the wake of the Signature Bank and Silicon Valley Bank failures, and with other regional banks potentially on the brink of collapsing, it’s worth considering what happens when a bank fails and what you can do to protect your assets. What happens to your assets and accounts when an FDIC-insured

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Ninth Circuit Upholds Mandatory Employment Arbitration Agreements in a Huge Win for California Employers

Ninth Circuit Upholds Mandatory Employment Arbitration Agreements in a Huge Win for California Employers

Authored by Michael J. DeSantis Earlier this month, the United States Court of Appeals for the Ninth Circuit recognized that the Federal Arbitration Act (“FAA”) permits mandatory arbitration agreements that are a condition of employment and preempts California law on the issue, a major win for California employers. Mandatory arbitration agreements used to be the

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