Legal Guide for Starting & Running a Small Business - Softcover

Steingold J.D., Fred

Softcover

ISBN 10: 1413308538 ISBN 13: 9781413308532

Publisher: NOLO, 2008

Synopsis

From opening day to tax day, this is the all-in-one book you need! Small business owners are regularly confronted by a bewildering array of legal questions and problems. Ignoring them can lead to disaster -- but with lawyers typically charging $200-$300 an hour, calling one to answer routine legal questions can be a fast track to the poorhouse. Fortunately, you have a better alternative: Legal Guide for Starting & Running a Small Business clearly explains the practical and legal information you need to raise start-up money, choose between a sole proprietorship, partnership or LLC, get licenses and permits, buy or sell a business or franchise, negotiate a favorable lease, insure your business, hire independent contractors safely, understand small business tax rules, pick and protect a good name, resolve legal disputes, adopt the best customer policies, enter into strong contracts and cope with financial problems. The 9th edition is completely updated and revised to provide the latest regulations, tax numbers and business realities. It also provides a start-up checklist, an expanded discussion about choosing a business structure, updates to bankruptcy law -- and much more.

About this title

About the Author:

Attorney Fred S. Steingold practices law in Ann Arbor, Michigan. An expert on small business law, he represents and advises many small businesses. He is the author of Legal Guide for Starting & Running a Small Business and The Employer's Legal Handbook. His monthly column, "The Legal Advisor," is carried by trade publications across the country.

Excerpt. © Reprinted by permission. All rights reserved.:

Introduction

Starting and running a small business -- one that's both profitable and emotionally satisfying -- is a dream that you share with millions of other Americans. Being an entrepreneur offers rewards of many sorts: the opportunity to spread your wings and use your natural talents, the freedom of being your own boss, the possibility of huge financial success, and more. And in an era when job security is a relic of a bygone era, owning a business means you never have to worry about being fired or outsourced.

Of course, nothing this exciting ever comes without risk. Demographic changes, recessions, changing tastes and styles, new technologies -- any of these factors can challenge even the most astute and experienced businessperson. There's no guarantee that any venture will succeed. But the positive side of being self-employed often outweighs the potential risks. That's especially true if you have confidence in your own judgment and abilities. You stand to earn more money than you ever have before -- and to achieve a high level of self-fulfillment. In a Wall Street Journal survey, 86% of small business owners said they'd do it all over again, and 76% said they believe they're better off financially than if they'd worked for another company.

What's more, the existence of risk doesn't mean you're helpless in the hands of the fates. You can greatly increase the chances of success by working hard and planning carefully. In particular, knowing how the law affects your business can help you avoid many costly risks. More and more, the law affects every aspect of a small business operation, from relationships with landlords, customers, and suppliers to dealings with governmental agencies over taxes, licenses, and zoning. That's where this book comes in.

For starters, this book will help you take key preventive measures that will dramatically cut the number of expensive visits you'd otherwise make to a lawyer's office. You'll know exactly where you may be vulnerable to lawsuits so you can wisely take steps to reduce the risks. And you'll know when it makes sense to call in a lawyer or a tax pro for special assistance so that small problems don't turn into huge ones.

This book uses plain English to cover all the major legal issues that a business is likely to face, including:

Will I be personally liable for business debts?
How is business income taxed?
Does it make sense for me to form a corporation?
How about an LLC?
How can I protect my business name?
Do I need a license or permit?
What forms do I need to file with the IRS?
How do I raise money for my business?
What are the steps in buying an existing business?
Is buying a franchise a good idea?
What kind of insurance should I carry?
How do I negotiate a lease?
Will zoning affect my home-based business?
What's the best way to avoid being sued by employees -- or former employees?

This book provides easy-to-follow answers to these and dozens of other legal questions so that you can spend your time on what really counts: running a sound and successful business.

About this edition

• Publisher: NOLO
• Publication date: 2008
• ISBN 10: 1413308538
• ISBN 13: 9781413308532
• Binding: Paperback
• Number of pages: 480