Month: December 2014

New CA Sick Pay Benefits Effective July 1, 2015: Simi Valley and Chatsworth Notifications

Posted on by Craig Mathias

Source: Assembly Bill 1522; Labor Code Sec 245

Starting July 1, 2015, most CA employers must provide employees with at least three days of annual sick pay.  The benefits accrue at the rate of one hour per thirty hours worked. The beginning date of the mandatory accrual is July 1, 2015.

Carryover: The days must be carried over to the next year if not used, but can be capped at six days total. However, an employer is not required to pay for more than three days per calendar year.

Reasons for use: Employees can use the days for preventative care, diagnosis and treatment of themselves or a widely defined family member.

SECTION 179 LIMITS RESET TO 2013 LEVELS

Posted on by Craig Mathias

Source: HR 5771

On the evening of December 16th, the US Senate passed HR 5771 by a large majority. This restores Section 179 depreciation and bonus depreciation to 2013 levels ONLY FOR 2014. The bill had earlier passed the House by a huge majority.  The White House has not voiced any objection to the bill and the President is expected to sign it shortly.

Buying equipment prior to December 31: If you’re running out to buy more equipment for 2014, remember that it must be in-place and operable by midnight on 12/31/14.