Final Steps!

The final step prior to opening your business is understanding all the rules. The legalities, liabilities, and leadership involved with hiring employees can definitely make a person want to shout! Employment laws set forth by the US Department of Labor require all companies that hire and pay wages to employees must comply with several various regulations and adhere to the rights of workers in every position. Human Resource Generalists and Employment Law Specialists are specifically trained to help an employer put together the various items that must be filed, or publicly posted to be in complete compliance with the government. Here is a simple list of some of the requirements.

1. Apply for an EIN and SS-4:    IRS website
2. Keep records or all W-2s, W-4s, and tax information. Must have records up to 4 years.
3. Understand Employer Eligibility Verification I-9 for legal immigration and documentation laws known as E-Verify.
4. Know the state laws and the Work Opportunity Reconciliation Act.
5. File paperwork and acquire workers' compensation insurance.
6. Obtain Unemployment Insurance. (varies by state)
7. If required, get disability insurance protection.
8. Post and display worker's rights and labor laws poster.

9. File Employer tax forms.
10. Get organized.
   
     These 10 steps require patience, diligence, and often experience to truly understand the details of each. It is recommended to do one thing at a time and learn as you grow your business. Keep records of everything you learn and file all paperwork until you know exactly what everything is and what it does. Lastly, don't be afraid to talk to other business owners and RESEARCH.  Before you know it you will have an functioning, operating venture that is ready to turn a profit.