by eclewis | Jun 17, 2014 | Business News
Does My Business Need an Employer Identification Number (EIN)?
There are a few questions that you can ask yourself right away regarding your business that can indicate to you immediately whether or not it is time to apply for an Employer Identification Number (EIN) from the IRS.
Does your business have employees or plan on hiring employees? It is important to note that even if your business is using contractors to get work done, they may be more accurately characterized as an employee under the law, which will require an EIN to be established and additional changes regarding such workers to be made.
Does your business operate as a partnership or a corporation? This includes all types of partnerships, corporations, and will likely include your LLC, unless it is a single-member LLC with no employees (and does not plan on hiring any) that does not fall under any other specific conditions.
Is your business involved with any of the following types of organizations? Non-Profits, Trusts (except certain grantor-owned revocable trusts), Estates, Plan Administrators, Individual Retirement Accounts, Exempt Organization Business Income Tax Returns, Real Estate Mortgage Investment Conduits, or Farmers’ Cooperatives.
Does your business withhold taxes on income, besides wages, that are paid to a non-resident alien?
Does your business file any of the following tax returns: Employment, Excise, or Alcohol, Tobacco and Firearm?
Does your business have a Keogh plan? Keogh plans are a particular kind of retirement plan that may require an EIN.
If you answered yes to any of the above questions, are unsure about your answer, or have other questions of your own, do not hesitate to reach out to the Law Office of E.C. Lewis, PC, home of your Denver Business Lawyer, Elizabeth Lewis at 720-258-6647 or email her at elizabeth.lewis@eclewis.com.
by eclewis | Jun 10, 2014 | Business News
A mentor in your industry can help set you down the right path for your business, or expose you to opportunities you had not even considered. They are not afraid to give frank advice by letting you know a new idea needs refining or when to take that risk you have been considering. They can also help you realistically determine your business goals and how to achieve them more efficiently. Mentors are important because they have been in your position, and you can learn from their experience in ways books are incapable of teaching you and more candidly than a friend or family member might.
Trying to find a mentor does not have to be intimidating. Finding a mentor starts with networking, but the better question is where and how to get started.
A great place to start is within. Think about whom you know in your industry. Think about your business partners, clients, co-workers, friends, and family. These people can all be potential contacts to discover your new mentor. Ask if they have had a mentor or if their parents worked in the same line of work. If you are still having trouble connecting with a possible mentor this way, it may be time step outside your comfort zone.
Start searching for conventions, organizations, or even classes designed for those in your line of business. Go to an event or class with a colleague and strike up a conversation with other attendees. Ask if they have ever been to an event like this to get conversation going. Be sure to introduce yourself to the officers of the group or speakers at the event, because there is a reason why they are leading the group. These people have unique knowledge from their experiences, and they could make for a great mentor. Look for ways to connect with these new acquaintances beyond work by discussing hobbies, vacations, and family. You never know what else you may have in common. Get their business card and follow up soon and let them know you enjoyed meeting them.
When setting up additional meet-ups remember to be flexible and work around their availability, since these people are using their time to meet with you when they have no obligation to do so.
These tips should help set you on your way to discovering a mentor in your industry and getting closer to your business goals. If you need legal assistance with your next business goal, do not hesitate to reach out to the Law Office of E.C. Lewis, PC, home of your Denver Business Attorney, Elizabeth Lewis, at 720-258-6647 or email her at elizabeth.lewis@eclewis.com.
by eclewis | Mar 22, 2011 | Business News, Misc. Legal Tidbits
Many businesses have confidential information – whether it is credit card receipts with business credit card information on them, contracts with client names and addresses on them, or bank statements with financial information on them. Businesses need to keep this information secure for multiple reasons – rarely does a business owner think about consequences such as business identity theft, lawsuits from clients, or denial of trade secret status if confidential information isn’t confidential.
By allowing confidential information to be stored on desks that are available to everyone’s eyes, thrown away without being shredded, or stored insecurely on laptops, a businesses faces threats like the above. If your business has any confidential information it collects, it is important to have a confidential documents policy for both soft and hard copies of documents. For financial information, you should speak with both your Denver small business accountant and Denver small business lawyer to see what you should store and how. For all other documents, you should speak to your Colorado small business lawyer and Colorado insurance agent to make sure you are protected. As always, you can call me, your Denver Business Lawyer, at 720-258-6647, email me, or click on the right to Book an Appointment now!
by eclewis | Aug 26, 2009 | IP Law, Online/Social Media Law
Another Twitter Lawsuit
Several weeks ago, I talked to people about the Chicago Twitter defamation case. Monday, another case regarding defamation surfaced. This time, it involved celebrity Courtney Love and a dispute with a designer. The designer accuses Courtney Love of using twitter and her website to defame her. Among the accusations are that Courtney Love used these mediums to allege she was a drug addict, a prostitute, and some other words that I don’t want to publish on my blog.
According to the San Francisco Chronicle, Courtney Love’s attorney has stated “It is important that this cherished right not be marginalized when speech is communicated via the Internet. Ms. Cobain (Love) enjoys using Twitter and expressing her views … to her fans and those who are interested in following what she has to say.”
Although most of my readers (I think) aren’t famous, the question still arises – what is safe and what isn’t safe to say on my blog or website. Unfortunately, this really depends on who you are and what you do. For instance, if I was an advising an accountant, I would say that you need to be careful about what tax advice you give (along with thousands of other things). I would advise a teenager to be careful about posting explicit information or pictures about another teen (in addition to a thousand other things). For pretty much everyone, I would say to be careful posting anything untrue about anyone or something that you wouldn’t want said about yourself.
Just like with any other media, if you say something that is an outright lie (i.e. Elizabeth Lewis is a terrible artist, because, come on guys, I can actually draw, paint, and take photographs!), you can face defamation charges. So, for instance, if in the case described above, the person isn’t actually a drug user or prostitute but the information was posted to cause people to stop using her, there could be a problem. However, on the other hand, if the person is a drug addict and prostitute, it would be hard to argue defamation.
In order to make sure either you, or your company, is safe from law suits, it is always good to have someone familiar with online law to review what you are posting online. For instance, I review companies’ communication policies to ensure that anything said online or offline about the company or its clients isn’t going to cause the company problems. I also review companies’ websites and literature to ensure it is okay to print. So whether it is in print or online, if you are going to be printing something, make sure you are in compliance with defamation, advertising, and any other laws that may apply!
