Is Your Business Protected Now That You Work from Home?

Is Your Business Protected Now That You Work from Home?

As if running your own business wasn’t already difficult enough on its own, now you have to deal with a global pandemic as well. This has led to a number of different financial and personnel related issues with many employers.

However, the situation doesn’t have to be as trying as it seems. With a little bit of help and the right legal guidance you can make sure that your business stays on track, even when the whole world seems to be coming off of its own.

Starting a Business

This is tough enough when times are good and the economy is fully open. Building a business from the ground up, no matter how small is always an accomplishment. But just because it may be harder doesn’t mean it can’t be done. Although, in the middle of a global health crisis, there are a number of additional legal considerations as well.

Obtaining employee health insurance, remote and in-person work, employee safety, as well as many other individual issues are all in a constant state of flux in the current environment. That is just one of the many reasons business legal counsel is necessary.

Licensing

There are many careers that require licensing. When these certifications are suspended or revoked it can destroy your career. At that point, there is no room for error. Examples of professionals who this might affect include medical workers, real estate agents, beauty service providers, financial consultants and many others.

Business Transactions and Agreements

Contracts or documents of any kind between two or more parties should always be closely examined by a legal expert. This is not only common sense; it can be the difference between a successful business and a disaster. Defaulted agreements on either side can have devastating effects on your profits and reputation.

If you need any help with your business during this time of uncertainly, we would be glad to provide it. Just get in touchwith any of the staff here at Bell Law and we will connect you with someone who is an expert in business matters. Whether it’s starting or managing a business or various other legal issues, you need to make sure that you have someone looking out for you.

Working with an Independent Contractor

Working with an Independent Contractor

When you own a business or are in charge of making personnel decisions, you can struggle with finding reliable team members who excel in their jobs. Talent management is a field of its own, and many businesses are turning to freelancers to complete projects that would otherwise go incomplete. Working with a freelancer can be an excellent business decision; you get the talent without having to commit to a long-term relationship and without paying expensive benefits. However, you should be prepared and protected before you begin your relationship.

What is an independent contractor?

An independent contractor is not an employee of your business. Instead, the independent contractor is paid for a specific set of services or a specific outcome.

What should my independent contractor agreement feature?

Before committing to working with an independent contractor, it is wise for you to have a formal agreement signed by both parties. The agreement can include any expectations of non-disclosure or highlight a non-compete clause if you find it necessary. Reiterate the independent contractor is not an employee as well.

What about taxes?

Independent contractors are responsible for paying their own taxes, and you do not need to provide an earnings statement for tax purposes unless you have paid the contractor more than $600 over the course of the year.

How should I communicate expectations?

Excellent communication is key to having a successful outcome, and a pleasant relationship with your independent contractor. Be clear with expectations and the scope of work of the project. Set deadlines and include time for edits or feedback before the final project is due. Allow for flexibility, and check in regularly via email or phone call to track progress.

How can I get started?

Before you begin working with an independent contractor, and even before you start searching for an independent contractor, make an appointment with the team at Bell Law. We have years of experience working with businesses of all sizes, developing custom contracts and templates that allow for an independent contractor relationship.

Give us a call today to set an appointment to discuss your situation, as well as your goals. We will work to give you the legal tools to meet your goals while protecting your business.

Avoiding mistakes when setting up partnerships

Avoiding mistakes when setting up partnerships

As established contractual relationships, Illinois partnerships can be difficult to untangle when things go wrong. When people are preparing to go into business with one another, it is important to take steps to avoid potentially costly errors if the partnership breaks down.

One of the biggest mistakes people make when establishing partnerships is not discussing their individual perspectives on compensation. Disagreements can then arise if one partner is expecting to be compensated in a different way than the other partner believes to be best for the business.

Prospective business partners may be able to prevent financial infidelity by conducting comprehensive financial background checks. For example, a person may want to avoid going into business with a partner who has tax liens, judgments, poor credit scores or bankruptcies on their record. Establishing a system of checks and balances, such as by regularly using the services of an auditor and requiring two signatures on any business check that is written, is a good idea as well. Limits may also be placed on the amount of withdrawals that can be made from the venture’s accounts.

When people are considering forming a partnership, conducting careful planning during formation can be helpful. People may find it beneficial to seek the advice of a business law attorney, as that attorney might help clients draft partnership agreements and business plans as well as conduct background checks. A business attorney may further help by registering the legal structure of the venture with the state. People may also use the business law attorney’s services on an ongoing basis, as an attorney may consult and provide guidance as needed to help ensure the venture’s success.

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