A recent Accounting Today spotlighting of America's contemporary business universe expresses overall optimism. It additionally cites numerous opportunities that seem to reasonably beckon for many enterprises.
At the same, time, though, it adds a caveat grounded in uncertainty that counsels sober thought on the part of company principals and entrepreneurs. The piece states that those individuals -- especially small business owners -- need to be especially prudent in 2018 owing to an "ever-changing regulatory landscape."
We echo that advice in a recent David, Brody & Dondershine blog post. We noted in our February 1 entry that "existing uncertainties and needed regulatory clarification make a go-slow approach advisable."
Why might that be so?
The above article points prominently to recent tax changes as one reason why business managers might want to solicit advice from a proven business law firm before making key company decisions. Some businesses might want to restructure themselves to take advantage of so-called "pass through" tax benefits, for example. In doing so, though, they need to broadly consider "associated personal tax changes" that can materially affect outcomes.
Due thought must also be given to company health care, which Accounting Today rightly notes is always "a complex, but important, aspect of any business's regulatory compliance." The same is also true concerning myriad aspects of employment law. Those can turn tricky in instant and open up a company to unforeseen risks and liabilities.
The list of regulatory concerns a business in the Washington, D.C., metro area or elsewhere must focus on is always complex and lengthy. Given the recent heavy regulatory input from federal and state entities, 2018 is likely to be a signal year requiring an even more acute focus than usual.