(ThyBlackMan.com) Owning and operating a small business can be truly rewarding. With the right approach and business plan, it can also be extremely lucrative. Of course, this doesn’t mean that opening and running a small business these days doesn’t come without complications and risk because it does. And, there is a good chance that you will be faced with several of these risk and challenges throughout your career. This is why you need to know how to prepare for these situations and how you need to prepare. This is exactly where a good attorney can come in handy and below, you will learn exactly when you should turn to an attorney to help protect your small business.
Registering Your Business
It is a good idea to have a lawyer on hand before you even open your doors and this is because registering a business varies by state and city. The process can create a mountain of paperwork and checklists. You will have to decide on a business structure as well as obtaining an employer identification number (EIN). There will be many small steps that you will have to take just to accomplish these two tasks and a business attorney can help you navigate these murky waters.
Dealing With Taxes Or Facing The IRS
The internal revenue service (IRS) can without a doubt be a formidable monster. If you have ever dealt with them there is a good chance that you already know this. When you are facing an audit or an IRS case the outcome could affect your finances, your assets, and the overall operation of your business. It is possible that you could potentially be looking at criminal charges. This is why anytime you are dealing with an auditor or facing the IRS, you need to have an excellent EDD lawyer on hand. They know the tax law and can properly advise you as to which moves need to be made.
Help Prevent Lawsuits
Being an employer can be extremely tricky and sensitive. This is especially true when it comes to hiring and firing employees. It only takes one or two employees to say that there weren’t hired or were fired due to discrimination or other frivolous charges. A thorough understanding of local and national laws that pertain to these matters can help prevent future lawsuits. It is best to always have an attorney like these at DhillonLaw.com on hand for these exact moments rather than having to scramble and find one at the last minute.
Making Investments
If you want to grow and expand your business this will require securing capital. This type of project requires expert research and application to find the right opportunities. Blindly going into an investment with knowing all the ins and outs could prove detrimental to your business. A good local attorney will be able to help you in several different ways in these situations. They will be able to identify the correct investors as well as help you negotiate those troublesome contracts. An informed lawyer could prove invaluable in such situations.
Staff Writer; Doug Shaw
