David Nancarrow

In late June, Governor Newsom and state leaders reached a pivotal agreement on the 2024-25 California state budget. Faced with a substantial shortfall, they negotiated a package that presents a mixed outcome for California families. State leaders managed to shield critical programs from harmful cuts initially proposed earlier in the year. However, the reliance on borrowing from future budgets and temporary revenue increases raises concerns about the long-term sustainability of core programs and the potential for stalled investments if revenue conditions do not improve. ⚡ Read our full analysis for a comprehensive breakdown of the June budget package and its potential impact on Californians. https://lnkd.in/gmeqQrjA

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Peter Manzo, President and CEO of United Ways of California, urges the Legislature and Governor’s Administration efforts to further support uplifting California households with low incomes in the years ahead. "...no one feels the cut of critical state programs more than California families and households with low incomes. This is why we’ll continue advocating to fully restore funding for Free Tax Preparation Assistance and Outreach & Education programs at $20 million ongoing." "The impact of tax credits and free tax help is life-changing for many and ultimately benefits every community, every local economy, and every Californian." Read the full statement here: https://lnkd.in/eSFMDyZ4

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Venture Capital News - Venture Capital News Headlines

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By now you are probably familiar with a number of updates impacting California residents including California State Disability Insurance (CA SDI), which impacts Individual income taxes, disability and Paid Family Leave benefits. Effective January 1, 2024, employees will pay the CA SDI contribution rate on 100% of their earnings. 🔵 In prior years, the CA SDI contribution rate would only be assessed on an individual’s earnings up to the stated cap ($153,164 in 2023) 🔵 The prior year maximum taxable annual contribution was $1,378.48 annually 🔵 Effective January 1, 2024, an employees' maximum contribution rate is now unlimited 🔵 Employee contribution rate increased from 0.90% to 1.10% (+22%)       Below are examples of CA SDI tax increase for employees in California effective 1/1/2024: 🔵 Employee earning $150,000 year-over-year increase = +$300 🔵 Employee earning $250,000 YOY increase = +$1,372 (+100%) 🔵 Employee earning $500,000 YOY increase = +$4,122 (+299%) 🔵 Employee earning $1,000,000 YOY increase = +$8,244 (+598%) Archon has worked to find a viable solution to help groups of all sizes review the feasibility of opting out of CA SDI and implement a CA VDI plan. Archon will be hosting an upcoming webinar in the next few weeks on best practices and guidance on how clients can opt out of CA SDI by implementing a CA VDI plan. Please reach out to your local Archon Sales Representative to learn more and ask for our 2024 Paid Family Leave Reference Guide. Link to directory in comments. #casdi #cavdi #disabilityinsurance #groupbenefits #compliance

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You got your primary election ballot in your mailbox. Now what? This voter guide introduces you to the competitive races and rounds up a lot of helpful links. https://lnkd.in/gVXPhGn2 Get ready to vote!

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San Diego County individuals and businesses impacted by severe storms and flooding that began on January 21, 2024, qualify for an extension to file and pay taxes until June 17, 2024. Affected taxpayers should write the name of the disaster (for example, San Diego Flood) in blue or black ink at the top of their tax return to alert FTB. If taxpayers are filing electronically, they should follow the software instructions to enter disaster information. FTB has resumed its normal process for taxpayers to claim disaster relief postponement of applicable due dates. For the 2022 tax year and the California severe winter storms disaster postponement, most of California taxpayers qualified for the relief and as a result, taxpayers were not required to claim the disaster on their return. If a taxpayer receives a notice they do not agree with, they should contact FTB.

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Reminder to Covered California enrollees! Report changes to your information because they may affect your coverage and the amount you pay each month. Watch to learn more.

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🌟 Attention San Joaquin County Residents: Your Voice is Needed! 🌟 San Joaquin County is embarking on the creation of a five-year Comprehensive Economic Development Strategy (CEDS), and we need YOUR input to ensure it reflects the values and priorities of our community. Why Your Voice Matters: Our county has faced numerous economic challenges in recent years, affecting jobs, businesses, health, housing, and overall economic stability. This strategy will guide critical investment decisions in infrastructure, public works, industrial and commercial site development, and job-creating initiatives to build a sustainable economic future for all. Get Involved: Online Surveys: Share your input through our online surveys. Your feedback is confidential and crucial for developing a plan that meets our community’s needs. - Resident Survey (https://conta.cc/4aEchBn) - Business Survey (https://conta.cc/3yFQP1z) Stay Informed: Visit our project website at https://lnkd.in/g9MhxhfT for more information and updates on the CEDS process. Together, we can create a roadmap for a thriving San Joaquin County. Your voice is key to shaping a brighter future for our community. #SanJoaquinCounty #EconomicDevelopment #CommunityEngagement #CEDS #SustainableFuture

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🌟 Attention San Joaquin County Residents: Your Voice is Needed! 🌟 San Joaquin County is embarking on the creation of a five-year Comprehensive Economic Development Strategy (CEDS), and we need YOUR input to ensure it reflects the values and priorities of our community. Why Your Voice Matters: Our county has faced numerous economic challenges in recent years, affecting jobs, businesses, health, housing, and overall economic stability. This strategy will guide critical investment decisions in infrastructure, public works, industrial and commercial site development, and job-creating initiatives to build a sustainable economic future for all. Get Involved: Online Surveys: Share your input through our online surveys. Your feedback is confidential and crucial for developing a plan that meets our community’s needs. - Resident Survey (https://conta.cc/4aEchBn) - Business Survey (https://conta.cc/3yFQP1z) Stay Informed: Visit our project website at https://lnkd.in/g9MhxhfT for more information and updates on the CEDS process. Together, we can create a roadmap for a thriving San Joaquin County. Your voice is key to shaping a brighter future for our community. #SanJoaquinCounty #EconomicDevelopment #CommunityEngagement #CEDS #SustainableFuture

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Happy Economic Development Week! In recognition of Economic Development Week, we are honoring our Economic Prosperity Award recipients, who contribute to Sonoma County’s economic well-being. Our recipient for the Job & Business Development Award goes to Working Solutions CDFI for their program "Small Business Resilience and Success in Sonoma County " Working Solutions provides affordable capital, free business consulting, and community connections to help people realize their dreams of small business ownership. In fiscal year 2023: 🔷74% of loans made to entrepreneurs of color 🔷51% of loans made to women 🔷76% of loans made to lower-income individuals 🔷57% of loans made to early-stage businesses Since 2005, Working Solutions has disbursed over $6.5 million in loans and grants to over 750 small businesses in Sonoma County. Learn more: https://hubs.la/Q02wsrTG0 #EconDevWeek

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Business owners, did you know that the Work Sharing program helps employers and employees? ✔️ You reduce hours and wages while we pay partial unemployment benefits. ✔️ The program is flexible and easy to participate in. Avoid the high cost of layoffs and keep Californians working. Register for our next free webinar on May 16: edd.ca.gov/WorkSharing

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Learn about the Cal Competes tax credits, hiring tax credits and incentives for employers! See you there! Register in link below: #employer #advisory #council #EAC #merced #seminar #humanresources #HR #businesspartner #leader #resources

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Come see it in person! I've scheduled an open house for Sat, Jun 22 @ 12:00 - 2:00PM and Sun, Jun 23 @ 1:00 - 3:00PM. Click on the image to see all the listing details, or contact me directly if you'd like to learn more. #home #house #listreports #property #openhouse #forsale #househunting #dreamhome #houseexpert #homesintheknow #realestate #realestateagent #newhome #propertyexpert #lovewhereyoulive #thegramlinggroup

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State leaders have the tools and resources to prevent these disastrous cuts. "By further tapping into the state’s rainy day fund and permanently reducing tax breaks for profitable corporations, the governor can ensure corporations pay their fair share and avoid cuts to services Californians rely on." ⚡ We share more in our First Look analysis. #CAbudget https://lnkd.in/gHTTkJns

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What's getting into contract? Here's a look at price points that are moving in Sacramento over the past few weeks. And if you work in real estate, there are clues for maybe where to focus business.

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Is your business flood-impacted? You may qualify for financial relief! The San Diego Workforce Partnership offers relief funds for temporary hiring, damage repairs, on-the-job training and upskilling your staff. Learn more about how we can help. #SanDiego #FloodRelief #WorkforceSupport #BusinessRecovery

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