Blog - Page 27 of 36 - Lawan Law Group, PLLC

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3 Best Practices To Avoid Misclassifying Employees As Independent Contractors

In the last decade, the rise of the gig economy has fueled an unprecedented increase in the number of independent contractors (ICs) in the U.S. workforce. And that growth has only accelerated in the wake of the pandemic, with more companies relying on remote work arrangements, and many workers laid off during the shutdowns and forced to go solopreneur choosing to remain independent. In fact, the number of independent contractors in the U.S. workforce rose by 34% in 2021, according to MBO Partners’ 11th Annual State of Independence in America report. As a business owner, using independent contractors in lieu… View Post

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4 Reasons Why Estate Planning Is So Essential For Business Owners

If you are running a business, it’s easy to give estate planning less priority than your other business matters. After all, if you’re facing challenges meeting next month’s payroll or your goals for growth over the coming quarter, concerns over your potential incapacity or death can seem far less urgent. But the reality is considering what would happen to your business in the event of your incapacity or when you die is one of your most pressing responsibilities as a business owner. Although estate planning and business planning may seem like two separate tasks, they’re actually inexorably linked. And given… View Post

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9 Topics To Cover In Your Employee Handbook

If your company has (or plans to have) employees, a well-written employee handbook is an essential communication resource between you and your team. An effective handbook can set expectations for new hires, outline company policies, simplify onboarding, as well as enhance training and enforcement. Ultimately, your handbook ensures that your team is not only aware of your rules and policies, but also the federal and state laws governing their employment. You can use your employee handbook to introduce your team to your company and its culture, explaining what’s expected of them—and what they can expect from you. Though it should… View Post

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Purchasing Life Insurance For Your Family: What You Need To Know

Life insurance is a key component of your family’s estate plan, offering those who depend on you for their financial security a safety net in the event of your death. Whether those dependents include your spouse, children, aging parents, business associates, or all of the above, investing in life insurance is a way to say “I love you” and make certain that when you pass away, the people you love will have a reliable source of financial support to count on. Although purchasing life insurance may seem fairly straightforward, it can actually be quite complex, especially given all of the… View Post

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Protect Your Business and Family With a Buy-Sell Agreement

Whenever you have a partner or multiple owners in a business, one of the most important—but often overlooked—aspects of the relationship is planning for how it will end. It’s crucial that you come up with a clear exit strategy, and do so at the start of your relationship when things are going well, and not wait until you encounter problems down the road. Indeed, the more thought you put into your exit plan ahead of time, the smoother things will be when one of you finally does move on. Formally documenting your exit strategy is done with what’s called a… View Post