On this episode, Karen and guest co-host Michelle Crowe pick the brilliant legal mind of Jennifer Holifield of Speegle Hoffman Holman, and Holifield. She and her firm specialize in helping small businesses with all business formation, employment law, and other corporate legal issues. Jennifer shares the most common legal pitfalls business owners and managers she sees year after year.
Are you compliant with all Federal, State, County, and City business requirements? Listen up, this Cheers episode could save you a lot of headaches, time, and money.
Click here to contact Jennifer Holifield.
> Incorporate and correctly form your business from the very first day.
> Consult your accountant first, then your lawyer, and then go to your banker.
> Stay on top of your Accounts Receivable.
> Have a trusted lawyer review your business formation and your invoice and billing agreements.
> NEVER commingle personal and business funds.
Learn more about Karen Simmons & Cadie Gaut
I always tell my clients to go see an accountant first to decide which business formation is going to be best for your financial situation. – Jennifer Holifield
If you don’t maintain the separation between personal and business, then it’s like you didn’t form your business at all in the first place. – Jennifer Holifield
If you are treating your business as if it’s your own personal bank account, the law will disregard that liability shield you are trying to create when you’re signing documents for your business. – Jennifer Holifield
A lot of the employment issues I see are wage and hour issues. Clients don’t always know when they have to pay overtime or when they don’t have to pay overtime pay. – Jennifer Holifield
E-Verify is a way to protect yourself under the immigration laws, which are pretty severe.