End 2016 Strong and/or Start 2017 with a Bang

New Year is right around the corner, and with it come new beginnings. Are you ready to start a business? Or, are you ready to take your business to a new level? Either way, having a good accountant and a good business lawyer is what every business needs.

End of the year is a perfect time to make sure all your financial, legal, and enterprise matters are in order and well taken care of.

Having a trusted business law attorney on your side is crucial to the success of your business, and it gives you peace of mind knowing your rights and interests are protected.

If you’re thinking of opening a business, thorough preparation is crucial in New York, or any other state, with a multitude of highly important business and legal issues to consider.

We can help you start and continue on the right foot – from business planning to start-up assistance, from capital financing options to legal documents, insurance, and licenses, and everything in between.

Opening a company and running a business can be very exciting, and it can also be overwhelming and seem very complicated. Legal assistance can help you prevent mistakes that can cost you dearly and bring not just financial, but also legal consequences.

While it’s easy to become overwhelmed at the end of the year with holiday stuff and wrapping up your company’s sales and projects, as a business owner you should take time to ensure your business is legally fit for 2017.

Now is a perfect time to tie up any loose ends you’ve been putting off throughout the year.  

 Does your business need a Fictitious Business Name (or DBA)? Did you obtain a Tax ID number (Employer ID Number)? Are all your necessary business licenses and permits in order?

Understanding New York State licensing and permitting and other requirements in your area is crucial, so you can be sure you are for applying for the right license or permit, as well as the name of your business.

If you haven’t already, make sure you take care of your business’ legal and administrative activities now. By addressing certain issues in 2016, you might be able to save money in fees, taxes, and penalties moving forward.

You may want to consider trademarking the unique name of your business or products, and implement plans to protect any trade secrets.

If you’re in the process of selecting a legal structure for your business, consider carefully. Defining who will own and be legally responsible for your business, and how to file your taxes, and how much liability and risk you want to take on is extremely important.  Let our experienced business lawyers help you with figuring out if your business should operate as a sole proprietorship, partnership, limited liability company, S-corporation, or C-corporation?

Next, is your business properly registered? Some business owners spend thousands of dollars and years of effort to develop a business, only to find out that it was not properly registered in the first place. Seek legal and business advice first.  

Do you currently have confidentiality and non-disclosure agreements with anyone your business will come into contact with – a solid, thorough contract to protect you and your business?

Does your business have all the required insurance, such as workers’ compensation, liability, and disability insurance, depending on your structure, location and employees? If not, don’t delay taking steps to protect your business from loss, fines, and lawsuits.

Now is also a good time to make sure your business is protected and your legal bases covered if there are any existing issues or disagreements with a client, supplier, service provider, or your own employee. Your business attorney will ensure there are no legal omissions or errors, and assist you with tight agreements that will protect your rights.

At Levin Law Group, our reputable and skillful business lawyers and corporate attorneys are well equipped to assist you with business laws and customs and provide support with legal challenges when planning, structuring, and conducting business transactions within a wide range of industries.

Take steps now to set yourself up for greater chance of success in 2017 and contact our business law attorneys today – after all, what better gift could you give your business for the New Year?