As we turn the page on 2013, there's still time for your company to commit to a New Years Resolution for 2014. And while there's certainly a benefit to, say, promising your employees more benefits and flexibility, or to redesigning your office space to enhance productivity, don't forget about some of the legal steps you can take here in early 2014 to improve your company's standing.
Huffington Post contributor and attorney Lisa Honey lists four ways small business owners can strengthen their "legal defenses" this year, two of which we'll talk about here.
Let's start with her advice to acquire good legal counsel, who can be a trusted consultant for all legal matters. Your attorney, whether on retainer or just on speed dial, "can mean the difference between success and failure," according to Honey.
In addition to an attorney, your team of advisers should also include an incorporation services company. As we reported last month, the assets of LLCs are afforded special protection from the states in which they are incorporated, and they are less likely to become victims of overly litigious parties. These are just some of the benefits of incorporating.
Together, an incorporation services company and attorney may help you avoid the issues that often vex small business owners.
Honey also suggests filing for incorporation on or before January 1, 2014. Of course, that deadline has already passed, but if you missed it, you can always circle January 1, 2015 on your calendar and start learning about how to form an LLC in the meantime.
According to Honey, filing before the end of the year, "means you will steer clear from paying a yearly government tax for only a few weeks of service, enjoy faster processing without paying for it and give yourself some extra time to sort out your documentation."