Examine the legal challenges each business faces and develop the basis for making informed business decisions to ensure compliance. Consider the various forms of business organization and determine which one is best for your business. Know your rights and liabilities under the law and how to limit risk. Make sure business records meet IRS, state, and other requirements. Understand basic financial statements, profit and loss statements, balance sheets, and other accounting documents and terminology. Develop a tax reduction strategy to support profit development. Know the payment schedules for payroll and sales tax and other applicable business taxes. An attorney will cover the legal issues and answer specific questions. An Accountant will present the tax and accounting information and answer specific questions.