The new overtime pay rule will take effect on January 1, 2020, so it is critical that as early as now, you figure out how this will impact the budget of your small business and consider which action is best to take. If you are concerned that your business may be impacted by this new overtime rule, consult with us so we can help you ensure that your employees are properly classified as exempt or non-exempt to maintain your compliance with the law when the rule takes effect in January 2020.
Collecting and remitting sales tax can be a big task and quite confusing, especially if you oversee multiple aspects of your business. It is critical that you know well your business sales tax nexus and remit your sales tax on time to avoid large fines, or worse, lose the right to do business. Here are several key points for you to keep in mind.
Destructive consequences can emerge if your business is structured in a way that could lead to deadlock and your partnership or operating agreement lacks provisions for resolving such an impasse. You must have a partnership or LLC operating agreement designed to prevent this situation from arising. Consult with us to discuss this or any other issues related to the formation of your new business.
Your decision about whether to lease or purchase a commercial space for your small business will depend upon your unique circumstances. There are pros and cons for each option and whichever option you will choose, we ensure you that we'll provide guidance and that your lease or purchase agreement includes all of the terms needed to protect your business. Read here to determine which option suits you. Consult with an experienced lawyer like us to guide you step by step with the process.
DIY legal services may appear inexpensive at first glance but a more in-depth look reveals that they could cost your business dearly. Read here to know its several anticipated costs. Consult with us to help you and your business established a solid legal foundation.
As an employer, it is critical that you understand and comply with state and federal laws pertaining to hiring applicants to avoid legal consequences. Ban the box precludes you from including questions about criminal history on the initial employment application to prevent applicants from being automatically eliminated from consideration in the screening process. Read here to know what and what's not required for this law.
It is important to develop a plan to retain your key employees during the transition period if you want your business to survive after you leave—whether your departure is because of retirement, illness, or death. Giving a stay bonus is one way that could persuade them to remain with your company, increasing the likelihood of its continued success. Read here to know the other reasons a stay bonus can help.
As a small business owner, it is important for you to meet critical deadlines to avoid fines, notices, or worse, closure of your business. We suggest setting up a compliance calendar helps you stay on top of critically important dates. Here are some of the most critical deadlines you may need to meet in the next few months. Consult an experienced lawyer like us if you have questions about deadlines applicable to your business.
You've invested a lot in making your business a success, and it is hard to think about relinquishing ownership or control of it. That's why planning is critical in creating a lasting legacy for your family and it is important to put advance plans in place for passing down a family business, or risk losing it. Read here to know several factors you should keep in mind in making plans for the future of your small business.
Creating a culture in your small business where employees are valued and appreciated is the best thing to attract stellar talents. It is important to cultivate a work-life balance in this era when go go go is a norm to retain these talented candidates who value the same balance. Read here to know some of the strategies your small business can use to attract excellent employees, even in a tight job market.