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California Edd

All articles tagged with #california edd

entertainment-industry1 year ago•3 min saved

Hollywood Panics Over Potential Loan-Out Corporation Risks

Hollywood was thrown into panic when payroll company Cast & Crew announced that the California Employment Development Department (EDD) planned to issue warnings to loan-out companies, potentially disrupting the way freelancers in the industry are paid. Although the EDD later clarified it was not banning loan-outs, the incident highlighted the financial complexities and benefits of these corporate entities, which allow freelancers to manage their income and taxes more effectively.

via IndieWire|

#california-edd #entertainment-industry #freelancers

entertainment-industry1 year ago•2 min saved

Hollywood Loan-Out Corporations Face Uncertainty Amid Industry Alarm

Hollywood was thrown into panic when payroll company Cast & Crew announced that the California Employment Development Department (EDD) was scrutinizing loan-out companies, which are used by freelancers to manage their income and taxes. Although the EDD later clarified that it was not banning these entities, the incident highlighted the precarious nature of freelance work in the film and TV industry and the importance of loan-outs in providing financial flexibility and tax benefits to industry professionals.

via IndieWire|

#california-edd #entertainment-industry #freelancers

entertainment-industry1 year ago•3 min saved

"Hollywood Loan-Outs Face Uncertain Future"

The California Employment Development Department (EDD) is challenging the Hollywood practice of paying workers through loan-out companies, which could have significant implications for the industry. The EDD argues that payments should be made directly to the loan-out corporation owners as wages, potentially affecting many productions and workers. Major payroll providers and unions are opposing this position and are preparing to challenge the EDD's stance.

via Hollywood Reporter|

#california-edd #entertainment-industry #hollywood

business2 years ago•1 min saved

California EDD switches to Money Network for unemployment benefit payments, dropping Bank of America

Bank of America will no longer be the payment contractor for unemployment benefits in California, as the state's Employment Development Department (EDD) has chosen Money Network to take over the role. Bank of America faced criticism for delays in distributing unemployment benefits during the pandemic, and the EDD had been urged to make a change. Money Network will issue debit cards initially, with direct deposits to be offered later. The move comes as the EDD tries to reclaim money given to scammers, with an estimated $20 billion paid to fraudsters since the start of the pandemic.

via KABC-TV|

#bank-of-america #business #california-edd