Fremont Business Transactions Lawyer
At the Law Offices of James G. Schwartz, we proviºde outstanding service and knowledgeable advice on how to start, operate, and grow a California business. Strategic business owners understand that every business needs legal counsel from a business lawyer. Legal needs arise in every business transaction, from the start of the business throughout its life, and even after it becomes necessary to dissolve, sell, or transfer the company. The success of a business depends partly on entering into transactions with a full understanding of their legal and long-term implications. Our principal and founder James G. Schwartz has over 35 years of experience as a Fremont business transaction attorney. He can help ensure that your business puts its best foot forward.Business Formation
The formation choices you make as you plan to start a business can have significant tax consequences. These choices can also affect your personal and professional liability and your profit margin. There are DIY websites that can give you boilerplate legal documents for general transactions. However, most businesses have at least some legal needs that require legal services tailored to their specific circumstances. Corporate and commercial laws are complex. It's critical not to try to draft your legal documents yourself, as the long-term ramifications of any mistakes can have an adverse impact on your business objectives.Helping You Throughout the Life of Your Business
Our office can help ensure that your business has a strong foundation upon which to build. Over the life of the business, all kinds of legal issues can arise, such as stock issuance, nuanced domestic and overseas deals, intellectual property concerns including IP litigation, or the need to buy or transfer commercial real estate. Whatever legal issues arise, we are well equipped to help you troubleshoot the potential problems, and plan for the future health of your business.
There are many different state code sections and regulations to which your business must adhere on an ongoing basis. For example, if you issue qualifying securities for sale in California, you must not only keep and maintain a complete set of books and records of these sales and proceeds, but you must also file a reporting explaining the securities sold under the qualification, the proceeds your business derived from it, and the disposition of the securities. Additional records must kept under the Securities Act of 1933, the Securities Exchange Act of 1934, and various state and federal laws.
In California, at the end of the year, your business must provide reports to employees and independent contractors showing their income from the year before. These reports must also be filed with the IRS and Social Security Administration. Failure to do either of these tasks can subject your business to penalties from the IRS. Similarly, the IRS may penalize your for making inaccurate statements or intentionally disregarding the law.
If your business is engaged in sales, the California Board of Equalization requires it to maintain all records necessary to determine correct tax liability under the Sales and Use Tax Law, and the records that would allow the board to verify the accuracy of your sales and use tax returns. Regulation 1698 defines the records that must be kept as normal accounting books, bills, receipts, invoices, cash register tapes, schedules, and working papers. The failure to maintain accurate records can be construed as evidence that you were negligent or sought to evade the law. Records required to be kept under Regulation 1698 must be preserved for four or more years unless the Board directs otherwise.
In light of the numerous laws and regulations that must be kept track of, maintaining business records can be quite complex. There may be many instances in which there is ambiguity about whether a record must be kept, or where there is a potential conflict between the various laws and regulations, making it appropriate to consult an attorney. If you wind up in a dispute with the IRS or another party, our office can offer an aggressive defense so that you can focus on your business.Personal Attention and Outstanding Legal Representation
Every business is different, and each one can benefit from individualized business law advice. Our firm can help you build a strong foundation for your company. We can also protect and guide your business through any legal pitfalls during the course of its operations. Fremont business and commercial law lawyer Jim Schwartz has been representing business owners in the formation and growth of their businesses since 1976. We value our clients and the trust they place in our representation, and we partner closely with them to help achieve their business objectives.