Employers often unintentionally misclassify workers as independent contractors when they should really be employees. This common error can lead to serious consequences, including audits, lawsuits, and liability. Accordingly, all employers should conduct a careful review of their independent contractor relationships to determine if they are valid and proper. The law further states that independent contractor […]
A business legal structure, also known as a business entity, is a government classification that regulates certain aspects of your business. Choosing the right business structure from the start is among the most crucial decisions you can make. Choosing the right business structure from the start is among the most crucial decisions you can make. […]
With all of these documents, it pays to be meticulous. Missing a detail can result in rejected paperwork, sending you back to start over and delaying your approval. Getting sound legal and financial advice as you form your business is a wise investment. 1. Internal Revenue Service (IRS) Form SS-4 If you don’t already have […]
Charging personal expenses on your business credit card isn’t against the law, but it’s likely against the terms of your credit card agreement. Plus, mixing personal and business finances could end up making you personally liable for any business debt if your business has legal trouble. As a general rule, it’s best to keep personal […]
Operating agreements and articles of incorporation work hand in hand to outline your business structure and define how your company will legally operate. An operating agreement outlines the relationship between business owners, and articles of incorporation outline a business’s relationship with the state. All limited liability companies (LLCs) can benefit from having an operating […]