Starting and Operating a Business in Hawaii

Starting and Operating a Business in Hawaii (October 2024 Edition) thoroughly covers federal tax and business laws as well as Hawaii laws and taxes that apply to new and small businesses and is a comprehensive tax and legal guidebook for any Hawaii small business. The author, a retired tax attorney and CPA and a Harvard Law graduate, provides detailed but easy to read explanations of the "ground rules" a small business owner needs to know to navigate successfully through the intimidating and complex maze of federal and Hawaii tax and business laws and regulations.. FEDERAL LAWS AND TAXES: Laws that apply to small businesses are explained, showing ways to benefit from recent beneficial changes (and avoid new pitfalls) , in order to structure your small business and operate it so as to best reduce taxes and also comply with numerous non-tax regulations.. Federal taxes and laws are updated to 2024 in this edition, including 2024 federal tax rates and brackets, retirement plan limitations, and other 2024 inflation-indexed items of the tax law. Also covered are last-minute new regulations issued in the spring of 2024, including a major expansion of the overtime pay requirements; new sexual harassment guidelines from the EEOC that prohibit verbal micro-aggressions that might be offensive to certain ethnicities or genders; the new FTC regulation making non-compete agreements with employees illegal; replacement of Trump-era independent contractor regulations; and the new (2024) reporting required under the Corporate Transparency Act.. Federal tax and legal coverage includes individual and corporate income, self-employment, estate, gift, and excise taxes, payroll taxes, withholding taxes; the important new Corporate Transparency Act, effective in 2024, that applies ONLY to small businesses, with MAJOR penalties for failure to comply; the Americans with Disabilities Act; environmental laws; minimum wage/overtime and child labor laws; anti-discrimination and health care reform laws affecting employers; immigration laws when hiring; OSHA job safety compliance; ERISA (employee benefits) compliance; the Family and Medical Leave Act rules (and how to earn the family leave tax credit) ; mail order sales and telemarketing regulations; Internet taxation and regulation; and much more.. HAWAII LAWS AND TAXES (Updated fully for recent changes in state income and other taxes, new pass-through entity tax election; 2023-2024 increase in the Hawaii minimum wage, and other recent state labor law changes) : Hawaii tax and legal coverage includes the Hawaii state income tax, state corporate income tax, Hawaii General Excise Tax, property, and unemployment taxes, withholding taxes, and other state and local business taxes; state fair employment laws; Hawaii minimum wage; overtime and child labor laws; mandatory workers' compensation, TDI and Prepaid Health Care insurance requirements; new hires reporting; wage payment requirements; anti-smoking law; other state labor laws; and much more.. OTHER IMPORTANT INFORMATION AND ADVICE In addition to extensive, up-to-date coverage of federal and Hawaii business laws and taxes, you will also find this e-book to be a gold mine of other useful information and advice for running your business. It covers topics such as an entire chapter on site selection for your business; do's and don'ts when buying an existing business, acquiring a franchise, or signing a lease; pros and cons of corporations, limited liability companies, and other business entities, as well as 2019 Hawaii filing fees and taxes for each type of entity. Other chapters deal with subjects such as how to protect your assets from creditors; incorporation in a state other than Hawaii; when to classify workers as either employees or independent contractors; advice to heed before joining a multilevel marketing program; exporting tips; cash flow management and fraud detection; and estate planning, to name a few covered topics.