Some Common Questions About Small Businesses
As a business owner, you have questions. Your decisions will shape your future and success. This is why every entrepreneur should talk to a knowledgeable legal advisor. Here are common questions – and answers – that may provide a helpful reference or starting point.
Do I really need a business attorney to set up my business?
Although using a lawyer is optional, additional counseling or guidance may help prevent some issues. For example, an attorney can assist you in determining the right business structure that helps reduce your personal liability. In addition, an experienced lawyer can help you draft employment or vendor contracts that remain compliant with the relevant government and tax regulations.
Can I start my business at home?
Yes, you can start your business in your own home. However, depending on the zoning laws of the Minnesota county you live in, you may not be able to have nonresident employees working at your home.
When do I need to apply for a tax ID number?
As a business, you may need a tax ID if you are a partnership or corporation, have employees, or receive payments from a state agency. Moreover, you may need a sales tax registration, also called a seller’s permit, if you sell certain services or products.
Can I hire members of my family to work in my small business?
Yes, there are no laws against hiring family members. However, your family members are also subject to the same employment laws and regulations. Taxes regarding a family member’s employment may vary, which is why it is vital to have skilled legal advice to avoid noncompliance issues.
Call Us To Address Your Questions
We know that your journey to start your business or ensure compliance with relevant regulations could be confusing. As business lawyers and entrepreneurs, we are ready to provide you with guidance and advice to protect your interests, assets, and business health.
Contact our Golden Valley office at 763-251-5896 to schedule an appointment and discuss your legal needs with our attorneys. Tell us more about your legal needs by filling out our secure online intake form. We look forward to working with you.