Effective January 1, 2021, California law temporarily exempts limited liability companies, limited partnerships, and limited liability partnerships from paying California’s $800 minimum franchise tax for their first year of operation. The corporate attorneys from San Luis Obispo’s Toews Law Group, Inc., report that this exemption significantly reduces the start-up costs associated with creating certain business… Continue Reading State of California provides franchise tax relief for new businesses ventures

-On March 11, after weeks of debate, President Biden signed the American Rescue Plan Act of 2021 into law, which among other assistance, provides significant benefits to small businesses and qualifying nonprofits. The business attorneys from Toews Law Group, Inc. have summarized what these benefits mean to small businesses on the California Central Coast. In… Continue Reading Small business assistance available from the American Rescue Plan Act

Although churches may receive maintain tax-exempt status through the IRS, this does not mean they are exempt from all taxes. The attorneys for nonprofits at San Luis Obispo’s Toews Law Group, Inc. have highlighted certain compliance concerns that most churches must follow. Churches and most religious organizations may be classified as tax-exempt organizations under Internal… Continue Reading San Luis Obispo Attorneys for Nonprofits Highlight Exemptions for California Nonprofit Religious Organizations

“Tax planning” is not the same thing as “avoiding taxes”. Tax planning is a legal estate planning tool that allows individuals to protect earnings and assets during your lifetime, for future generations, and for your estate. Tax planning can be applied to a number of types of taxes including: income tax, property taxes, capital gain… Continue Reading San Luis Obispo estate planning attorneys on the importance of tax planning

Starting off unprepared is one of the leading causes for business failure. Regardless of how small the business it still needs a solid foundation upon which to grow. The business law attorneys at San Luis Obispo’s Toews Law Group, Inc. have a few considerations and tips for new business owners to consider, to avoid common… Continue Reading Legal considerations for business startups: Tips from the San Luis Obispo business law attorneys

There are risks to operating a business that can’t be foreseen, such as a natural disaster that interrupts a supply chain, or the illness or unexpected death of a key player. Most businesses manage to regroup after such emergencies and get back on track. Even some legal risks can be unforeseen, but most legal risks… Continue Reading Identifying business legal risks

Life insurance is a well-accepted means for protecting families in the event of the insured’s death. A life insurance policy provides the ability to help pay off debts, pay the mortgage and other living expenses, pay for college for children, grandchildren, nieces and nephews and helps replace the income that is lost. Many people don’t… Continue Reading How insurance and estate plans work together

A nonprofit’s success often depends on the board of directors who oversee the organization’s finances, fundraising activities, and operations. Building an effective board of directors sets the direction of an organization for its initial formation and into the future. This makes defining the structure of the board and recruiting board members critical for the organization’s… Continue Reading Building a board of directors for a nonprofit

Oh, you’re getting married – did you sign a prenup? Not a very romantic topic, however, a topic that couples should strongly consider tackling before saying “I do”. The San Luis Obispo attorneys at Towes Law Group, Inc. are releasing information that describes how a prenuptial agreement, integrated with a well-designed estate plan, can protect… Continue Reading The Importance of Prenuptial Agreements in Estate Planning

Toews Law Group, Inc., tax attorneys in San Luis Obispo, California provide expert tax services to individuals, business owners, accountants and other tax professionals ranging from answering simple questions about how taxes work for a given situation to representing parties before the IRS appeals board or tax court. Although the firm does not prepare tax… Continue Reading The top business-related tax issues

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