Legal Tip of the Week: Most Common Mistakes that Businesses Make Part 2

Legal Tip of the Week: Most Common Mistakes that Businesses Make Part 2

Check out Part 2 of our series on the most common mistakes we see small businesses make!

Having a qualified business attorney available to consult with is critical for all small business owners. Unfortunately, most people wait until after there has been a workplace incident before they seek our firm's advice! Don't make the same mistake.

Neglecting Permits and Licenses

Operating without the necessary permits or licenses can result in fines or even business closure. Local, state, and federal regulations vary widely.

Misclassifying Workers

Misclassifying employees as independent contractors (or vice versa) can lead to tax penalties and legal challenges.

Ignoring Data Privacy and Security

Failing to protect customer or employee data can result in data breaches, which may lead to legal liability and damage to the business's reputation.

No Clear Exit Strategy

Small business owners may not have a plan for selling or transferring the business, which can lead to complications when they are ready to exit.

Underestimating Taxes

Not setting aside funds for income and payroll taxes or failing to file tax returns on time can result in penalties and interest.

Contact us with any questions about common mistakes that businesses make

Call us at (205) 837-5791 or email us at whoffman@hlawoffices.com to schedule a consultation with our team.