How to Keep Your Business on the Right Side of the Law

As a business owner, regardless of the size of your business, it is imperative to remain on the right side of the law and make sure that everything you do is done legally. It can be difficult to keep your eye on every detail and keep them peeled on all the legal regulations that are put in place due to the fact that there is so much to do every day when you are a business owner, but you must do it. There are no excuses for not keeping on the right of the law, especially not because you were ‘too busy’ or because you ‘took your eye off the ball’, and excuses certainly won’t be accepted in court. Below are a few basic ways to help your remain on the right side of the tracks.

Legally hiring legal employees

Hiring an employee that has not been granted legal permission to work in the country that your business is based in, or going through illegal procedures to have someone work for you, even if they are legal to work in the country, is illegal! To eradicate the first problem, the problem of hiring an illegal worker, you should search out an expert work visa lawyer who will provide you with expert advice on aspects regarding businesses and immigration laws. They will offer counsel on aspects such as employment-sponsored immigration, H1B visas, EB5 green cards, employer compliance and in regards to temporary and permanent visa procedures. This kind of assistance should most definitely be sought for those businesses that are based in a city or state that is on, or close to, a country border, i.e. Texas, as these areas are known to be rife with people seeking employment illegally. Similarly, you should never attempt illegal methods of employment, even when the employee in question is in fact not prohibited to work in your country. Examples of this could include paying an employee cash, rather than having it go through your financial books and records, so that they can continue to claim benefits or financial aid. Paying cash-in-hand for services is a bad idea because it can affect payroll tax, and anything that affects any aspect of tax is seriously illegal.

Always pay your taxes

And that leads on to the next big aspect of remaining legal with your business: avoiding the payment of taxes. The true ramifications of tax avoidance are very costly, which is why you should always seek to make sure that you are doing everything in your power to ensure that your business is always keeping on the right side of the tracks in regards to tax. If you feel that you need assistance with tax regulations or IR35 regulations and legislations, then you should seek tax planning advice from independent advisors. And, there are also ways in which you can get away with paying less tax legally, in fact there are a few.