How To Avoid 3 Common Legal Mistakes Small Business Owners Make
Disclaimer: This video and accompanying content (blog, KZread descriptions, etc. herein referred to as "Content") is for informational purposes only and should not be construed as legal advice of any kind. Jo-Ná Williams and J.A.Williams Law, P.C. assumes no liability for use or interpretation of any information contain in this Episode or this document. This Episode should not be an alternative to obtaining legal advice from a licensed attorney in your state based on the specific facts of your legal matter. Jo-Ná Williams is licensed to practice law in the State of New York only.
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Legal help can be confusing if you run a small business, but in this video, you'll learn about three common legal mistakes small business owners make -- and how to avoid them.
1. Business Structure. Should your business be an LLC or S Corp? Get legal help from a lawyer about what option is best for your business, since they can help you figure out what will be best for your taxes as well. Many people think that a lawyer is going to cost a lot of money, but most people would rather pay for solving a problem than preventing one.
2. Protect Yourself And Your Offerings. It's very important your terms are outlined in something written. Make sure that your contracts have protection for your IP, disclosure of your programs and content, clear terms as to refunds, and how to terminate the contract.
It's also important to make sure your contracts have disclaimers in them. It's important to have what you are in the contract but even more importantly what you're NOT. Legal help from an attorney will show you exactly what your contracts and terms should include.
3. Your Business Relationships. An independent contractor's agreement serves as additional proof that you have this arrangement with the people working for you. In this type of agreement, you should outline their duties, how they are being paid and when.
A non-disclosure clause protects your confidential information and explains the fact that they're an independent contractor and not an employee.
And a final bonus tip: If you are in the U.S. and you pay an independent contractor over $600, you're going to have to issue them a 1099. Make sure you have their W-9 form when they come on board so you don't have to try and get it from them later!
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And if you're interested in more videos on next-level business growth like this one, check out our KZread playlist on that exact topic here: • Build A Meaningful Bus... .
Thanks for watching!
Пікірлер: 122
This is so useful! Thank you so much! I wish there's more of this topic: legal, accounting, and tax for small online entrepreneurs.
Great legal tips! One additional document you need for new employees is a employee application with a legal sign off to allow a background check and reference check. You can't trust what people say at the interview alone because many will BS you. We had an applicant that we thought was perfect for the job but in verifying their employment, we found out most everything was a lie. The background check came back that he was a convicted felony that broke in and stole from his former after hours. If we went by the interview only, we would have hired him because he was charming and appeared respectable.
@SherrellTMartin
10 жыл бұрын
***** Yes. I am at the point of bringing on contractors and as an accountant I have access to tons of information that needs to be safeguarded. a colleague referred me ti an agency that I can use for background checks. Just by making the decision to implement that into my processes has given me a sigh of relief.
Great info. I'm a small business owner, looking for individuals to contract with and hadn't thought of the non-disclosure agreement. So glad I watched. Thanks so much!
Ok... Why does Ms. Thang not have a book??? I would buy it!!! In a HEARTBEAT! I want to know more. This was great info and she explained it in a way that this artist could understand! I'm creating products for my brand new business & "contracts signed up front" NEVER occurred to me! And, "doctor for my business"??? BRILLIANT!!! I feel more empowered now. I think I just grew 10 feet taller!... Thanx a million! :-)
@RedScareClair
6 жыл бұрын
Rosalind R Cook because they make more money and are more protected if you come into the office ;)
@robertatkins3753
5 жыл бұрын
You'll love my new video kzread.info/dash/bejne/YqmDqbSOnNTdido.html
Dumb question, but is there a particular TYPE of lawyer I should be looking for? Great interview, Jo-Na! This really IS a topic you don't hear many talking about.
@ThriftDiving
10 жыл бұрын
***** Great! Sounds like I need a business lawyer then. You had mentioned interviewing them. What's the best way to go about that? After seeing your episode I contacted a lawyer's office and it was $100 for a 1-hr consultation. There was no free consult so I could even interview/check him out.
I'd never thought of interviewing several lawyers. Great tip! That's my next step.
I woke up today like "omg it's tuesday, marietv" & this is why! Always producing such great material! I love it, thanks marie!!
Marie and Jo-Na, thank you so much for this kick in the pants. About 6 weeks ago I officially established my business and I have been overwhelmed with everything that I had neglected to do some of the things you suggested. Well, today, I took the time to call and consult with an accountant and he is showing me the ropes! I took this small (but big, necessary step) because I was compelled by this awesome video. Now, dealing with legal matters and getting my ducks in a row in that regard isn't so scary. Thank you!
@ArunKumar-ec2go
5 жыл бұрын
Courtney Herring Bowden yes it’s good one
I like the disclaimer on this video, actually the written disclaimer above. That says it all. Every business, every legal issue is different. The details, just one little detail alters every legal issue. Who would like to get legal advice and not worry about hourly charges?
Finally, great tips without even a hint of spam. Love this! Thanks Marie!
@hamsternew
8 жыл бұрын
I\'m not sure but ,if anyone else trying to find out set up a cleaning company try Nevolly Cleaning Startup Nerd ( search on google ) ? Ive heard some interesting things about it and my colleague got great success with it.
I’m a paralegal and I work with 7 lawyer 9 to 5 and run my own business as well. I love attorneys and working on my JD. this was informative Jon’s Williams 🥰
soooo cool im going to do all my legal an documented work while my logo an brand is building b4 i sell anything.
First Jo-Na I want to say your hair is beautiful! Second the info you shared was brilliant. Just starting out in a service based business and having a service contract, a non-disclosure agreement, interviewing several attorneys...WHEW! You gave me a lot things to think about. There is so much to building a business than just having the idea. I will be watching this video several times just to make sure I have what I need in place. PLEASE keep up the good work! I also love your B-School bonus video training as well. I was about to jump right into an LLC until I heard what you had to say about it.
Great words for any business!🙏🏼Will be sure to share 😎
Ok, I had to stop and comment before listening through to the end. This is the first time I have heard anyone in the legal profession come against the idea that you should just jump to an LLC. What a breath of fresh air! Now, to finish listening...
I LOVE this topic! I'm a business coach & attorney and I have added a whole step to my course just to focus on this! I get such good feedback I've launched a speaker series with my attorney & CPA to help small businesses START with this info! Good stuff ladies!
@yolandachesney6343
9 жыл бұрын
Markita Samuel Hello Markita, Could you send some info. I want to get some legal advise for my business.Thank Yolanda email ychesney@yahoo.com
@MarkitaSamuel
9 жыл бұрын
Yolanda Chesney hello I do not give legal advice but I can connect you with an attorney.
@yolandachesney6343
9 жыл бұрын
OK that would be great Thanks
I absolutely agree. I stress this more than anything. I tell people that LAW exists in everything; crimes, partnerships, and even the ground your standing own. One bad day can break you down...
I am a 26old young lady and have a online art gallery I'm from London UK. I have been reading up over last 8 months to what I want to be and I feel limited company would suit me. As from tomorrow im going to see if I can get secondary advice from a accountant. As always Marie TV is excellent and thank you Jo-Na for your straightforward bubbly advice.
These are some really great tips, thanks Marie!
@TrueBeautyWithin
10 жыл бұрын
***** Thank you so much, this was very helpful. I had to share this with my friends. :)
@LtheGoddess7
10 жыл бұрын
***** Brilliant as always! So glad to see you on here.
I love your video about passion and how to live a life doing what you love. It inspired me to make the KZread channel I have now AND I also showed your page to a dear friend of mine who is actually opening up her own pharmacy. This video above really helped guide her. I guess she had some doubts regarding business decisions and this video really helped her out! Thanks for all you do!
So glad to be attending your workshops Jo-Na. You rock lady! Looking forward to this Wednesday :)
@marilyndarkfire
10 жыл бұрын
***** Where do you have your workshops?
Hi Marie, The message was very informative. Thanks so much Jo Na Williams.
Thank you Maria wonderful tips from Jo Na, I will share this information with my niece who recently went into business she wold benefit from the advice I certainly have. Many Blessings your way.
GREAT tips! I'm in the very early stages and haven't established a business yet but will be sure to see a business lawyer first!
So Tuesdays I look forward to seeing what goodies Marie Forleo is going to dish. I was too pumped when I opened my email to see my music biz coach Jo-Na Williams being featured! She's the best! Go Jo-Na!
Great tips! Getting a lawyer on retainer for your company could save you a lot of money as well as legal problems!
Your videos are really good and fill with great content. I'm already familiar in this area but for new business owners or employees wanting to become their own boss, this is definitely for them.
I love this ! I am so happy that this video came to my inbox. Jo-Na is so smart, I'm visiting her site now!
One of the best Marie TV's to date!! Great tips, and Jo-Na is SOOO pretty :)
Brilliant video! Our law firm are keen on doing something similar to advise small business owners in the UK and this has been a great inspiration!
So useful ! Thank youuuu ! I just moved to US as a foreign citizen and Im trying to start my business so I do reply to your challenge : I start from the bottom. I have to find which business entity, which legal structure suits to my project... Well Long way to go but Im motivated and I love what Im doing. Im ready to contact an accountant : where should I look for ? Yellow pages ?
There is so much to learn about this important topic, found this video helpful.
Great video. This advice is very useful. I think this works well once you have started to get paying customers for your business and now to need to mitigate potential risk.
This was so great and very helpful! Thanks Marie and thank you so much Jo'Na!
I hope this video goes out to people who are planning on starting their own companies. Talking to a CPA beforehand definitely helps to ensure that you are not committing any legal mistakes.
Great video! Another great resource for determining the type of entity that will be more useful for your business and your assets is checking out the Secretary of States office for the jurisdiction in which you will be conducting business. The Secretary of state offices strive to be a one-stop center. In NV, for instance, you can draft operating agreements and find tools on what licensing requirements you may have based on the nature of business and entity type. It also goes into detail in the liabilities and structures behind each entity type. I hope this is helpful!
very helpful thought of this before but you definitely brought it back to light thank you so much!
@10:26 what if you are in the United States and will be hiring someone OUTSIDE the US (outsourcing) how will you write off such expenses in the tax for hiring an individual abroad?
I really liked Ms Williams statement that most people end up paying to solve a problem instead of prevention and a legal shield will be built around your business by incorporating. Step that can be taken right now? Get a legal plan that offers a monthly price for legal services instead of being charged an hourly rate. Preventive law is affordable with a small business legal plan. We have an incorporation package for C, S or LLC to launch a small business. This is what our company does nationwide and in Canada. You can message me and I will email you some info.
Thanks for the great tips♥️
This is a very helpful guide to the basic issues that everyone needs to keep in mind. Thanks for posting this (Yeah, I know I am several years late.)
CA Enterprise, LLC conduct all legal business with the Founder, CEO and Owner at the table, in writing and with official signatures. The company is currently a single member LLC.
thanks to someone that I already know this type of things because I used to be a business owner
Helping my daughter who’s a Awesome cook, to start her own catering service.. Looking for all I need to do to protect her in pursuing her dream and independence.. Contract first and foremost, even though family & friends will be involved.
Loved t his one! I will definitely be using some of these tips. Especially having the service agreement clauses. I will definitely be revising my contract.
So I am doing business with foreign manufacturing companies, what Tax form would I send out?
Great video! thanks for the advice and content
This was incredible free information. Thank you!
So extremely helpful ! Thank you!!! I always felt lost on where I should get this info... but now I know.... I will find a lawyer! :)
Excellent video! Thank you so much!
this is a major tips to get start in a Business
Very awesome video! Thank you so very much!
Thank you to Marie and Jo-Na for sharing this legal information, it is invaluable and so important. No one wants to lose their business. Especially when we work so hard on them. Can you talk about Patents one day (or if you have, can you tell me where to find it) please? I need to go interview some lawyers now... :-)
@Lmdub4life
10 жыл бұрын
***** Thanks for the tips! Right after I watched the above video I searched "patents" and I found www.WIPO.int to be very helpful as well. They give a global perspective on patents.
I dont understand the type of business structures you are referring too. For a photographer are there different types of business structure options?
Wow, fantastic suggestions! Thank you!
50% in taxes ?!?!? Geesh.... when does the government say ok maybe that's excessive ?
@heyLORDitsme
6 жыл бұрын
Brandon Broner when we stop trying to BE ENTREPRENEURS😂
I want to start my own business, how do I prevent it from being stolen by another person? I'm scared of my sister or friends who might work with me. And I don't want them thinking it is their company.
abolutely GREAT advice! Thank you!
Thank you, great content!!
Thank you for the informative video!
Very helpful and great tips.
Loved these tips completely!
This was super helpful. Thanks. :)
This video is so informative!!!!
Wow! This was great. So glad I watched. I'm lucky that my MIL is a lawyer, so she always makes sure our ducks are in a row. But I forgot about the service agreement and disclaimer. I am about to start offering services next week, so this is perfect timing. They are now on my do-list before I send out all my mailers. Thank you, +marieforleo and +Jo-Na Williams.
Amazing tips. Thanks!
This was a great video! According to your suggestions, it seems I have been on the right track with my online entreprenuer business. I did speak with my accountant initially to decide on the structure for my business. Like many in my position, I was unable to afford a lawyer initially, so I solicited help from my accountant and sought out some legal advice from an online service. I currently work as an independent contractor offering consulting services. Do you recommend this approach for entreprenuers in the beginning stages of setting up the business?
Thank you for that great legals tips.
Good tips.
Hi Jo-Na, so what are some of the cons of not signing a contract with the business you work for?
Any tutorial to Lear how to fill E-500? Thanks
Much needed information
Great video, I found this very helpful. I'm starting a new business in 2016 and right now, I'm doing about 1.5 years of research on it. My new buisness involved amateur sports. Is there some type of license or any legal things I should worry about when providing a service for kids?
This was sooo good!
Thanks for the info
Thank you for the great information here. I am curious how paying a child in my home who is working for me in my business applies to the choice of company structure. I chose to LLC but I may, in the near future (when my daughter turns 16), employ my daughter to work in my home office and help with general work, etc. I was told I could pay her, and she could receive the pay, tax free (up to the standard deduction) as a child employee in a home business. So does that affect the LLC structure I chose to set it up as? I hope that makes sense... LOL
These are some really great tips! Thank you so much Marie!
Great topic, thank you for sharing. Have a nice ✨day:-)
I definitely was meant to see this video! I need see an attorney since I don't have one. But is it a good idea to give my spouse a NDA?
@lavishlyjasmine
10 жыл бұрын
***** Yes and no. He lends a hand but isn't an employee.
I want a lawyer like her!
Nice video
great tips!
I am going to hire a doctor for my business aka lawyer
This is great stuff. But what are NDA's ?
@704Woman
8 жыл бұрын
+mrcoolkicks Non-Disclosure Agreements
This is good advice
EXCELLENT!
good work
Marie I came across your videos about 3 months ago..... watching Marietv is like personal development with a twist... (cool) well this is my first time making a comment. i came across this video today which was very interesting because I recently started my 1st networking marketing company by the name of Legal Shield- which offers legal and identity plans to families and small businesses... I have been really holding back from marketing the service ...this video tells people need it..its very affordable....you guys are saying people should have it ..... Has anyone heard of this company? Thanks for your dedication to keep us informed..........Netaphia
that is good ideas
I need to get my service agreement and NDA.
Chef Habari here! 👋 Is there a lawyer with integrity watching who would like to help me structure and grow my food products? I have healthy meals ready-to-eat!
Good Stuff
ok
make an independent contractor agreement :)
is jonA on you tube
@michelledawn7622
8 жыл бұрын
gyttttu
You're awesome I
UGH! I wish this was lonnnnger
We are ready to be your offshore development company
Would anyone be interestedn trading my art for your accountant or lawyer services?
First talk to my accountant. Then seek an attorney