4 ms·
Ask HN: What regulations apply to my company? How do we know we're compliant?
Are there any good resources to understand what regulations / laws apply to my business? As a small business owner I'm finding it very difficult / time-consuming / expensive to understand what regulations are relevant, let alone have confidence that we're in compliance.
Previous experience working at large companies (2,000+ employees) suggested that most companies eventually give up and pay professional services firms (accountants, lawyers, process consultants) to help them cobble together the necessary docs before an audit but that's beyond our means right now. Curious what other folks have seen with regard to understanding compliance / regulatory liabilities and executing against those. Thanks!
- anoncoward111 8y agoDo a google search for Broker Briefcase. Some of their documents have leaked out onto the web and they do a pretty good job of summarizing and sorting fed and state and local requirements. Spoiler alert it's all pretty annoying and silly laws and formulas and really the main problem is if you are ever audited or targeted for investigation, they will go hunting for where you aren't compliant at that time.
- gesman 8y agoYou always non-compliant. The task is to get you more compliant than the guy next door - so he'll be an easier target. The way to get there depends on industry you're in.
- wsh 8y agoYour lament is not an unusual one for a business owner; it’s unfortunate that legislators and regulators sometimes overlook or disregard the costs of compliance, especially for smaller firms. Areas of regulation that apply to most small businesses, such as employment law, taxation, and consumer protection, are discussed in many books available from publishers [1] and business organizations [2]. A comprehensive, one-volume textbook on business law can also be a good starting place. These resources are valuable not only for the specific information they contain, but also to help identify areas for further inquiry. This sometimes involves professional advice, but it may just mean checking the website of the relevant government agency. Indeed, many agencies publish guidance about the laws and regulations they administer. Examples include the IRS’s Employer’s Tax Guide [3], the California Employer’s Guide [4], and Your California Seller’s Permit [5]. Obviously, in more specialized and heavily regulated fields, it’s expected that businesses will have competent advisors. No one reads Becoming a National Bank [6] and then successfully applies for a bank charter, for example, without help from lawyers and others familiar with the process. [1] https://store.nolo.com/products/legal-guide-for-starting-and-running-a-small-business-runs.html https://store.nolo.com/products/legal-guide-for-starting-and... [2] https://store.calchamber.com/10032179-mastqb/products/employment-law/hr-quick-guide-for-california-employers https://store.calchamber.com/10032179-mastqb/products/employ... [3] https://www.irs.gov/forms-pubs/about-publication-15 https://www.irs.gov/forms-pubs/about-publication-15 [4] https://www.edd.ca.gov/pdf_pub_ctr/de44.pdf https://www.edd.ca.gov/pdf_pub_ctr/de44.pdf [5] http://www.cdtfa.ca.gov/formspubs/pub73.pdf http://www.cdtfa.ca.gov/formspubs/pub73.pdf [6] https://www.occ.treas.gov/publications/publications-by-type/licensing-manuals/becoming-a-national-bank.pdf https://www.occ.treas.gov/publications/publications-by-type/...
- playbook_ops 8y agoSuper helpful, thank you! I'll check out the books you mentioned as a starting point.