In 2004, a Foxnews.com carried a story titled “America Mired in Morass of Laws and Regulations”. (March 11, 2004) The article stated: “The Federal Registry, which records all of the regulations the federal government imposes on businesses (all of which carry the force of law), now exceeds 75,000 pages. The Office of Management and Budget estimates that merely complying with these regulations — that is, paying lawyers to keep educated on them, interpret them and implement them — costs U.S. business another $500 to $600 billion per year.”
And that was in 2004. Anyone who runs a business knows that there are more and more “compliance issues” every year. Filing for permits, completing online certifications, posting requirements, confidentiality regulations, and so on. It is easy to get mired in the onslaught of paperwork. Unfortunately, non-compliance (even when due to ignorance of the law) can be very expensive.
It is important for businesses today to keep up with laws and requirements. It is especially difficult for small businesses that lack a department or office manager.
Keeping a calendar and organized files can greatly assist in this sometimes monumental task. Many tasks must be repeated on a yearly basis, so by keeping “last year’s” file handy, you will be able to use it as a guide to filling out the current forms. Calendaring the tasks and deadlines with a reminder a week or two in advance will keep you from having to frantically root through boxes of old documents at the last minute. Make sure that a backup person knows where the compliance calendar and files are located, even though there should be one person who is ultimately responsible for carrying out the tasks.
Kalish Law Office has been providing legal services to businesses since 1984. We provide practical advice and on-site visits when requested.
“Passionate, Professional and Personal. We Make the Difference.” www.kalishlawtexas.com Spring, Texas
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