How Orange County Business Attorneys Help Sole Proprietors

Orange County business attorneys provide help to entrepreneurs and to companies. Attorneys can provide advice to business owners on avoiding problems that could interfere with operations and can offer assistance in resolving conflicts and legal issues that do arise. 

Brown & Charbonneau, LLP is here to help companies of all sizes to address a wide variety of legal matters that are common when doing business. Our firm not only helps big companies that have incorporated, but we also help small companies – including sole proprietorships. Whether you are just starting a business, are growing a business or are hoping to help your business become more profitable in the future, our legal team can assist you in taking the right steps and making the right choices to maximize the chances of success.

While many sole proprietors think they don’t need a lawyer because their business structure is simple, the reality is that Orange County business attorneys can still offer invaluable assistance to sole proprietors about many different kinds of issues. Some of the key ways that Orange County business attorneys assist sole proprietors and their companies are listed below.

Orange County Business Attorneys Help Comply with Legal Regulations

Companies, including sole proprietorships, are subject to myriad rules and regulations. A business may need to be licensed in order for operations in a specific field to be permitted. If the company decides to hire any employees, the business must comply with state and federal anti-discrimination laws as well as with all wage-and-hour laws indicating what the employee must be paid for time worked. If the company wishes to release a product, the company must comply with rules and regulations aimed at avoiding injury and informing consumers about risks.

There are millions of pages of state and federal regulations and it is impossible for any business to know all that is expected of them to behave in accordance with the law. Orange County business attorneys can provide assistance in understanding and working within regulations to protect the company and avoid fines, investigations or lawsuits.

Orange County Business Attorneys Can Provide Advice on Tax and Financial Issues

Sole proprietors, unlike corporations and other types of business entities, do not have a lot of flexibility in how they are taxed. They simply must declare profits and losses on their annual tax return that they file. However, this does not mean that they don’t have tax compliance issues to address.

Sole proprietors may be required to file and pay quarterly taxes and can face financial penalties for failure to do so. Sole proprietors may need to collect sales tax, if they sell products that are subject to this tax. If they hire employees – as opposed to independent contractors – they must understand their obligations to pay payroll taxes, withhold funds from an employee’s paycheck for submission to the IRS, and pay for unemployment insurance and related costs.

Orange County Business Attorneys Can Offer Assistance with Protection from Personal Liability

Another big issue relates to protection from personal liability. Companies can be sued for a large number of different reasons. Companies could also get into debt because they have an unprofitable quarter or cannot compete effectively with competitors. If you are a sole proprietor and your company gets into financial trouble or a judgement is entered against your organization, you could find yourself facing a serious risk to your personal wealth and your assets owned inside the business.

As a sole proprietor, you are seen as one in the same as your company in the eyes of the law. There is no legal separation, so a suit against your company is the equivalent of you being sued personally. Orange County business attorneys can help you to explore your options for limiting your personal liability and protecting your wealth. In some cases, for example, continuing to operate as a sole proprietor may present too great a risk and your experienced attorney can discuss options with you including incorporation.

Getting Help from Orange County Business Attorneys

Orange County business attorneys at Brown & Charbonneau, LLP will assist sole proprietors with all of these tasks and many more. Our legal team is committed to helping your company succeed, whether your business belongs only to you or whether your company has many shareholders who co-own the company together. To find out more about the different ways our legal team can assist you when you are operating as a sole proprietor, or in many other situations, you should give us a call at (866)237-8129 or contact us online today.