Setting up your company properly will keep you out of trouble with the law. It is dangerous to your freedom if you have not done so!.
I must say I am not a legal counselor, only passing along information that I have learned. You must take this information serious because you could find yourself in a lot of trouble,
Also there are tax advantages if you set up your small business properly, the best lawyers can help you do that!
A multitude of counselors is crucial when setting up your company and one of them those counselors is finding the best lawyers so that you can choose one! Please do not buy a book or use a place like legal zoom for your 1st time set up.
Check them out on yelp and other online reviews. Look for firms that will be around for a long time and will be able to serve you years to come.
The human touch is powerful there are so many things to ask and hear that this meeting should be one in person. That is unless you are using someone who provides a specialty service who is not local. Make sure you and that person can get along is another important thing to keep in mind!
If the best lawyer list is not beneficial for you or they don’t specialize in your company structure ask them if they could recommend 3 attorneys to you that do. If the same name comes up repeatedly that lawyer could be the one you are looking for!
Example question: If I don’t do business with you what 3 attorney’s would your recommend me doing business with?
According to my mentor it will cost you around 2k to set up your company structure properly. (Paying attorney, filling and setting up with the state, business partner, etc.) If you don’t have 2k it may not be time for you to be starting a business. But if you are operating as one it is crucial that you come up with the money and set it up properly right away.
Choose the one you can afford, don’t always go for cheap, you get what you pay for. My mentor recommended a medium size law firm over a smaller one due to more resources being available to you. If you chose a small corporate lawyer firm they have limited access. – go for mid-size with a good reputation.
Many people who start a small business fail to take this step, but don’t be one of them. Avoid problems that could arise from not taking this step!
Your lawyer will more than likely be able to refer you to a good accountant. Accountants are crucial for the success of your business and keeping you out of trouble with the law.
Stay tuned for tomorrow’s post where I plan to talk more about finding a good accountant.
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