This guide assumes you know 0% about all the numerous laws, best practices, etc., about running a business. I obviously can’t cover everything, but I can at least bring to your attention some of the most important aspects to minimize your liability (AKA the risk of you getting sued).
Accounting
Payroll
Human Resources
– Break Even Analysis
— Fixed Expenses
— Variable Expenses
— Income Sources (variable vs. fixed)
— Break Even Point
FIRST OFF
Do you have:
– Need an Federal EIN http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online
– Need a State Employer ID
https://www.ftb.ca.gov/businesses/faq/701.shtml
ACCOUNTING
I’ll actually break accounting up into multiple parts:
– Accounts Payable
– Credit Cards
– Checks
– Accounts Receivable
– Timeframe
– Keep Track of Accounts and Review
– Bookkeeping
– Quickbooks
– Download Transactions Online
– CATEGORIZE!!!
– Look at Reports to adjust your “break even” analysis to be more accurate
PAYROLL
– In house, or Outsource (http://www.amesoft.com/)
– Payroll Taxes
– Hourly / Salary
– Overtime:
http://www.dir.ca.gov/dlse/faq_overtime.htm
– Meal periods:
http://www.dir.ca.gov/dlse/faq_mealperiods.htm
– Paid Break
– Rest Periods:
http://www.dir.ca.gov/dlse/faq_restperiods.htm
– Time management software for clock in and clock out times
– May come with payroll company
– TimeTrex (open source)
– Numerous other options
– WHY do this?
– Unemployment:
http://jeffersonkim.com/2012/09/20/unemployment-from-a-business-owners-perspective-in-california/
http://www.edd.ca.gov/UIBDG/default.htm
http://www.edd.ca.gov/pdf_pub_ctr/de2088c.pdf
Write Ups and notifications.
DOCUMENT EVERYTHING!!!
HUMAN RESOURCES
– Protected Classes
http://www.nolo.com/legal-encyclopedia/california-employment-discrimination-31690.html
– Applicable to Hiring, Firing, EVERYTHING
– At Will Employment
http://en.wikipedia.org/wiki/At-will_employment
– Employee Handbook not 100% necessary at this stage
– New Hire Packet
W-4
I-9
Lunch & Break Notice
MPN Notifications
Healthcare Notifications (http://www.dol.gov/ebsa/pdf/FLSAwithoutplans.pdf)
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