Starting a New Business? – Read this Lawyer’s AdviceStarting a New Business? – Read this Lawyer’s Advice
Many of consumers are Small Business owners, said the best business attorney in all of Chicago. Small businesses often need legal help more than their larger counterparts, but frequently are unable to retain them due to the fear of skyrocketing legal costs. The good news is that Small Businesses can retain good legal representation. The best Small Business Law firms know this full well. In fact, the Small Business Administration even advises clients to seek out competent Small Business Lawyers when they are looking for counsel. Read on to learn more about what Small Business Lawyers can do for you…
One way many small businesses retain attorneys is through incorporation. When incorporating, business owners must decide who among the many qualified Small Business Attorneys they have should be assigned to their case. The Small Business Association has resources pertaining to how to select an attorney, including a checklist, and a list of resources which should be used by attorneys handling incorporation cases.
Often, attorneys working with small businesses will begin working on cases after a client has already formed. However, in some instances small business owners have to first hire a private law firm to conduct preliminary research and file paperwork with the appropriate agencies. Once a company decides that a Small Business Law Firm would be best for them, they should make inquiries about hiring an attorney. Small business owners should note that attorneys handling such cases may be limited in terms of their practice. As most small businesses have fewer than twenty-five employees, there will be fewer attorneys to handle different aspects of the case.
Perhaps one of the most common ways Small Business Law Firms assists their clients is by filing taxes. In doing so, SBLs have the benefit of experience with IRS rules and regulations, and in many cases, the tax code itself. They are also familiar with the ever-changing tax laws in light of recent changes, such as the recent 2021 expiration of the tax breaks that were originally put in place. In addition to filing taxes, SMLLs can also be helpful in other ways, including helping clients to register for state and local sales and use tax permits, as well as filing payroll taxes. It’s important to note that most states require their own forms, and only a Small Business Law Firm can provide the expertise needed to complete them properly.
Employment law is another area of Small Business Law, which has become increasingly important due to the recent developments regarding EEO practices and issues on discrimination. A number of cities and counties have changed their rules to help employees (as well as potential employers) more effectively recognize and avoid workplace harassment. In addition, the rules surrounding employee compensation have changed considerably in the last few years, with many areas having outlawed the use of mandatory arbitration clauses and increasing penalties for firing employees who complained about poor work conditions or other employment abuses. For this reason, many small businesses that do not employ their own legal teams have turned to SBLs to represent them.
The Small Business Administration’s Office of Legal Services provides training for small business owners on common legal requirements that affect their companies. This includes issues such as corporate public liability, fair treatment and employees, intellectual property, and landlord responsibilities, and more. As the SBA makes its way through more rules and regulations changes, these changes are expected to make life more complicated for business owners. But with the SBL’s expertise and dedication, many small businesses can make sure their business entities remain solvent and viable for years to come. Click here to learn more about business law.