I am thinking about starting a company and hiring employees to do the majority of the day in and day out work. Will I need to hire an attorney in order to keep the company running good?
I would open a DBA(Doing Business As) account with your bank. I would then hire an accountant and ask him to create a simple book keeping system.
Anytime you are starting a new business venture it is a good idea to speak to both an accountant and a lawyer. These initial conversations are usually free and will give you a good sense of the steps you need to take to comply with government regulations.
You don't need to hire an attorney to do anything. You can do it yourself. Now if it's a serious business venture, you run the risk of screwing up something or not realizing that something should have been done differently. As they say, an ounce of prevention is worth a pound of cure.
You certainly don't HAVE to hire an attorney to start your business. However, as attorney Jaffe says, it is usually a good idea and can be pretty cost effective. Most of what an attorney will do for a start up is just make sure you are on the right path. A good accountant and a good business attorney can save you a lot more in the long run than they cost.
Nobody asked because he said he is just thinking about starting it. You don't make money until you actually start your business.
Having an attorney is good, in case of some serious problems. But if your business is not that big, there is no need for you to hire one.
Look you keep records at the start because you will spend and lose money. Then you can write this off to take deductions in the later years. If you are by yourself I found out I can keep track of everything. If you run a company that sells lots of stuff you should get software to help. Most of the worry is about taxes. if you have to hire employees or you have a business partner then yes you might want to talk to them.
You need business insurance, it's a huge liability to handle marketing for a comapny. What happens when you sink their company and they sue you for thousands?
It's always best to have a lawyer that knows what they are doing on hand. Saves a lot of headaches down the road.