Going through the process of small business or corporation formation in Miami, FL can be very difficult, for a variety of reasons. It requires a whole lot of work and passion, plus assistance from outside professionals like accountants, insurance providers and attorneys to get you off and running.
With this in mind, here are just a few of the biggest reasons why one of the best things you can do to set yourself up for success is retain an attorney for your small business right off the bat:
- Business entity: One of the first steps of forming a business is selecting the type of business entity you use. For example, for many new businesses, the most popular type of entity is going to be the limited liability company (LLC), which offers limited liability to the owner combined with the single taxation benefits you’d find in a partnership. But you’re going to have a hard time trying to determine which entity is the best fit for your business’s circumstances if you don’t have a skilled business attorney guiding you through the process and making sure you complete all the proper paperwork.
- Dealing with employees: Once you get to the point where you start hiring additional employees, you’re going to have to comply with a number of labor laws, which outline your relationship with your employees and your responsibilities to them. These laws have to deal with topics such as pay scale, payroll, medical time off, recordkeeping, anti-discrimination laws, wage and hour laws and much more. Even if you’re using independent contractors, there are still some regulations you’re going to need to be aware of. Attorneys will help you make sure you follow all the proper protocols in dealing with your workers so you can avoid becoming liable in potential labor lawsuits.
- Everyday legal guidance: Some of your day-to-day operations might require some legal guidance, including sales tax collections, permitting and licensing and building code issues. If you establish a relationship with an attorney before you officially get your business up and running, you’ll be able to easily navigate these issues as they arise, rather than having to bring your business operations to a halt to go out and find an attorney to help you resolve them.
- Major transactions: The more complex your business becomes, the more likely you’re going to engage in major transactions. These include real estate sales and purchases, zoning issues, mergers and acquisitions, public stock offerings and creations of succession plans for your business. All of these types of major transactions and milestones require the assistance of an attorney well-versed in corporate law.
- Legal matters: Any time you have legal or ethical concerns that arise, you’ll need an attorney to help you weather them. It’s also important to work with a lawyer to develop internal guidelines for how you’ll handle whistleblower reports, instances of fraud or harassment and other ethical issues that might arise in your workplace.
For more information about corporation formation in Miami, FL and other business matters, contact an experienced attorney at the office of Rubén J. Padrón, PA today.
Categorised in: Corporation Formation