Recently, I have had the pleasure of watching "Merlin" on Netflix with my son. "Merlin" is a BBC show (unfortunately, it ended after season 5) that tells the Camelot story. Although it is not true to the more documented versions, it is a really entertaining program. What I appreciate about the Camelot story is that it details how personal relationships can alter an entire civilization. There were rules for the Knights of the Roundtable, but when some of those rules were not enforced, they led to further deterioration of the society in general and ultimately brought down the kingdom. Although oftentimes we do not agree with certain laws, it is important to understand them. With a knowledgeable hand guiding you, you can protect yourself from inadvertently breaking the rules and destroying your own roundtable.
One area where business owners get into trouble is in not understanding how to protect themselves from an action to "pierce the corporate veil." Although this may sound like a problem a knight with a sword might have encountered, it is a circumstance in which a business owner may incur personal liability for actions or inactions of the business. Read here to learn more about how to protect yourself from personal liability.
I recently had the opportunity to connect with a client who is in the air conditioning business. He reminded me that it is important to have your AC unit cleaned and checked before the heat of summer. He told me that it would be less expensive to do it then and that it is much better to have to endure a major repair when you are not also hot. While summer appears to be here already, the weatherman predicts cooler temperatures in the weeks ahead, making it an ideal time to schedule that AC service call.
The same is true with your business. You should schedule a time for periodic checkups with all of your professionals - tax, marketing and of course law. Please contact me before things get too hot to comfortably handle.