One of the smartest things you can do for yourself as a new business owner is to hire a lawyer. While starting a small business is an exciting way to realize your dreams, it also encompasses many legal and financial challenges. Having an attorney at your side can help you avoid some common and detrimental pitfalls.

4 Ways a Business Lawyer Can Help You

1. Obtaining Licenses and Permits

Starting a business is no simple matter. From the very beginning, you will need several permits, and, as a new entrepreneur, you may find it challenging to keep track of them all. A business lawyer will know which licenses and permits you need to operate your business legally. Additionally, he will ensure your applications are all filled out correctly and turned in on time, so a clerical error doesn’t impede your plans.

2. Preparing Legally Binding Agreements

From entering into a relationship with vendors to hiring employees, virtually everything you do will require a contract of one type or another. A lawyer can draw up legally binding contracts and ensure they contain the stipulations you specify. This is a vital service that you’ll rely upon more often than you realize to preserve your interest during business transactions.

3. Helping You Meet Your Tax Obligations 

Managing your business’ finances can get tricky, especially in ensuring all of the business’ sales taxes and income taxes are paid. When it comes time to arrange your estate planning needs, these play an essential role in determining how your business will be managed. An attorney with thorough knowledge of tax laws will help you plan for your business’ future while accounting for your financial obligations.

4. Dealing With Your Business After Your Death

Your attorney should also be skilled in probate law to help you make any final arrangements. Whether you plan to leave your share of the business to a partner or you plan to pass on the entire operation to a beneficiary, your attorney can help you make those arrangements. Probate laws are complex in terms of dealing with a decedent’s business, so it’s essential to work with a lawyer with this type of legal knowledge to ensure that people can’t make unwarranted claims to the company and its interests.

For over 25 years, Woodlawn Law Offices has been helping small business owners meet their legal needs. Their expertise in civil litigation, estate planning, real estate, family law, and probate law compliments their business planning services. When you need a lawyer with a comprehensive skill set, you can rely on this firm to provide you with dedicated and professional legal services. They will help create a business plan and legal service package that will give you peace of mind when managing your emerging business. To learn more about how they can help you with your small business, visit their website or call (636) 240-6667.