Top 5 Legal Tasks You Should Do This Year
March 14th, 2012 COBRA Compliance
March 14th, 2012 Stop That Tweet!
February 21st, 2012 New federal poster required for the workplace in 2012
January 31st, 2012 Four Utah Cities Land on Top
December 19th, 2011 10 Rules for Holiday Season Hiring
December 5th, 2011 City Creek Finalizing Details before March Opening
October 19th, 2011 Utah's Workforce Facts
October 4th, 2011 State workers return to 5-day workweek
September 6th, 2011 Mind Your Business: Your Starbucks MBA
August 25th, 2011 How You Know When It's Time to Hire
August 11th, 2011 Drop in LCD demand limits 3M earnings growth
July 26th, 2011 IRS Increases Mileage Rate to 55.5 Cents per Mile
July 12th, 2011 Blood Drive
June 27th, 2011 Federal JOBS Act of 2011 Passes House Ways and Means Committee
June 14th, 2011 How To Avoid Suits Stemming From Layoffs
June 1st, 2011 Utah To Return To 5-Day Workweek
May 19th, 2011 A Texas Attorney Is Disbarred from Practicing Before the IRS for Willful Failure to File Tax Returns
May 5th, 2011 IRS Provides Guidance on Bonus Depreciation
April 20th, 2011 ICE to Notify 1,000 Companies of Pending Form I-9 Audits
April 5th, 2011 Experts Confront Delicate Human Resource Issues
March 22nd, 2011 Utah Construction Industry, please review House Bill 260-2 today!
March 9th, 2011 Utah Cashing in on Record Level of Exports
March 2nd, 2011 Social Media Drives New Lanyard Site
February 16th, 2011 Invest In Your Safety Plan and Workers Compensation Programs and Save!
February 2nd, 2011 Employee Handbooks
January 19th, 2011 Using Customer Testimonials to Market Your Business
January 5th, 2011 5 Tips for Taking Your Business New Places in 2011
December 29th, 2010 IRS Releases Health Care Tax Credit Guidance
December 16th, 2010 Early Flu Shots Pay Off
December 1st, 2010 The Best States For Business And Careers
November 17th, 2010 Employee or Contractor?
November 3rd, 2010 The Importance of Documentation in the Workplace
October 21st, 2010 Employment Eligibility Enforcement Shifts to 'Silent Raids'
September 22nd, 2010 Wages and Hours Up in July
September 8th, 2010 What is a PEO?
August 20th, 2010 President Obama Signs Unemployment Benefits Extension
August 6th, 2010 Writing an Employee Handbook
July 19th, 2010 Keeping Tabs on E-Verify & I-9
July 6th, 2010 Strong Summer Hiring Expected in June
June 16th, 2010 Tough Road Ahead for Immigration Reform
June 1st, 2010 Flexible Schedules
May 11th, 2010 Health Care Reform Bill Summary
April 29th, 2010 The Importance of Paying Taxes.
April 22nd, 2010 This Just In From UHY Advisors...
April 15th, 2010 2010 HIRE Act
April 7th, 2010 I-9 Compliance
March 30th, 2010 Decrease the Risks of Employee Termination
March 19th, 2010 Reduce Stress, Get a Handbook!
March 5th, 2010 Unemployment Insurance Costs Rising
February 26th, 2010 Federal and State Official to pursue misclassified employees
February 18th, 2010 Stay Focused to Survive.
November 22nd, 2009 Get a Quick Quote

 

Top 5 Legal Tasks You Should Do This Year

By Guest Writer on February 28, 2012 5:01 AM| No TrackBacks
Guest post by Jennifer K. Halford, Esq.

There always seems to be plenty of advice at the end of the year about legal tasks that small business owners need to complete. Yet, if you are like most of my clients, December is too busy with holidays and vacations and January and February are equally hectic. OK, but no more excuses.

Now that we're staring down March 1, here are five legal tasks that I recommend my small business clients complete to start the new year off right:

1. Conduct employee evaluations: Make the beginning of the year your business' time to conduct annual reviews of employees. Written evaluations are important for rewarding good performance and for documenting areas of improvement. Make sure you know how to properly conduct evaluations and that you complete this legal task each year at a fixed time.

2. Review your business contracts: Now is the time to review your building lease, your vendor contracts, and your equipment leases. Pay attention to when the contracts expire. Note what areas you want to renegotiate and where you can cut costs for 2012.

3. Review your insurance policies: Pull your insurance policies out of the drawer and call your agent. You may have changed locations, expanded, downsized, or changed employees in 2011. Make sure that you have adequate coverage for the current state of your business.

4. Get ready for taxes: W-2's and 1099's should be issued for your employees and contractors by January 31st. However, there are many other important tax deadlines just around the corner. The IRS provides a calendar of important tax dates for small businesses to help you stay current with your business' tax responsibilities.

5. Make sure your business postings are current: The Department of Labor provides information about Federal DOL poster requirements for small businesses. OSHA also provides a free on-site consultation for small businesses. Take advantage of these free resources to make sure your business is up to date with employment and safety in the workplace postings.

If your New Years' resolution was to start your business off right in 2012, be sure to complete these five legal tasks.
Jennifer K. Halford is an attorney whose practice focuses on business law and estate planning. She is also a professor at California State University, Chico, where she teaches Entrepreneurial Law .