Your LLC can be a great way to protect your personal assets from debts or liabilities that your company may incur. This protection, however, can be lost if your business doesn’t take the proper steps required by state law. Here’s some tips to help make sure that you’re getting the most protection.
1) Don’t Mix Business and Personal Funds
Don’t use business money to pay personal expenses or move money back and forth between your business and personal accounts. The court will presume that if the company can pay your personal expenses, then […]
Employee handbooks are a great way of explaining company policies and procedures. They can provide employees with an overview of the company, the working practices & environment. A good handbook can also provide a business with a layer of legal protection by setting clear standards and expectations which employees must comply with. In short, a good handbook is essential to running a good business.
On the other hand, a poorly done employee handbook can cause a lot of harm. Business managers and owners tend to want very rigid policies in place that address almost every fathomable situation. Having policies in […]
There is no question that overtime pay is expensive, around the country, companies have been caught by the Department of Labor using questionable worker classification methods and tried all sorts of things to avoid paying workers overtime. If you have read past columns I have written, you know that most laborers classified as ‘subcontractors’ are improperly classified. You should also know that you cannot put a foreman on salary to avoid the costs of overtime pay. How are companies supposed to be competitive and save money on overtime costs then?
While it is not legally compliant to put a foreman […]
There is often a tendency in the green industries to hire people as laborers and state that the worker is a ‘subcontractor’ or ‘independent contractor’. I don’t know when or where this trend started, but the labels are often used inappropriately by business owners and contractors.
I have heard from many people that they believe this is ok, as long as the worker is given a ‘subcontractor agreement’ and an IRS Form 1099 at the end of the year. For whatever reason, there is the misconception that taking these steps makes the worker a legitimate subcontractor. Unfortunately for business […]