If you're reading this, I'm earning money. Thanks for helping to feed my family. Please see our disclosure for more information. Also, any advice provided is for informational purposes only. I'm not a CPA, lawyer, or doctor, although my parents wanted me to be all three. So, talk to a professional before acting on anything you read below.
Are you a small business owner or side hustler? You will want to read up on how business break the law without realizing it -- which today's contributed post covers. Enjoy and let us know about your experience in the comments.
Being a small business owner or side hustler comes with a lot of legal issues that you never had to deal with before. The whole thing can get a bit confusing but it’s part of the job so you’ve just got to get on with it. Hopefully, you aren’t going to be breaking any laws on purpose but when you’re trying to learn all of these new rules and regulations, it’s easy to make mistakes.
In fact, it’s far easier than you think to accidentally break the law when you’re a business owner and the authorities won’t have any sympathy for you if you do. These are the most common ways that businesses accidentally break the law.
Hiring workers from another country can be a lengthy and complicated process for employers and a lot of the responsibility falls on them to make sure that everything is done above board. If they don’t have the necessary paperwork to prove that they’re eligible to work then you’re breaking the law, even if they used false paperwork.
The best thing to do is find the best immigration lawyers and have them check over all of the documents over for you to make sure that everything is in order.
When you’re dealing with your personal finances it can be tricky enough but that’s nothing compared to the paperwork you’ve got to fill out when you’re operating as a business. You’ve got to pay your business taxes and sort out all of your employees tax forms on top of sorting your own and it’s not uncommon for people to make mistakes and pay less than you owe.
If you do this, you’re going to end up with late fees and hefty fines which can land you in serious trouble.
As soon as your company gets involved in a lawsuit of any kind, you need to keep hold of any documents that could be relevant. The thing is, that’s not your decision to make. Those documents include anything from accounts all the way down to emails or text messages.
Deleting any of those emails or getting rid of paperwork is a crime, even if you do it by accident. You need to have a strict policy in place to deal with situations like this so that all of your employees know that they absolutely shouldn’t get rid of any documents, even if they seem completely insignificant.
The Consumer Product Safety Commission exists to make sure that all products that are sold are completely safe to use. If something is found to be unsafe then it will be recalled but the problem is, they won’t necessarily tell you if it’s one of your products.
They have a list on their website of all of the products that are being recalled which you need to be checking regularly. If you carry on selling a product after it’s been recalled, you’re breaking the law.
It doesn’t matter whether you did it without realizing, if you break any of these laws you’ll find yourself in big trouble.