Episode 59: From Idea to Income – The Legal Steps to Start Your Business

Welcome back to Law Days and Lattes—your go-to podcast for practical legal insights served with a shot of encouragement. In this episode, host Sidney Wheelan, attorney and owner of The Wheelan Law Firm (with offices in Moberly and Carrollton, Missouri), walks you through the essential legal steps to start your business the right way.

Whether you're planning a side hustle or ready to take your passion full-time, this episode gives you a clear, practical roadmap—so you can launch confidently without the legal fog.

☕ In This Episode:

1. Choose the Right Business Structure

• Sole Proprietorship vs. LLC vs. Corporation vs. Partnership
• Why LLCs are a great fit for most small businesses

2. Register Your Business Name

• How to make sure your name is unique
• Why an Operating Agreement matters in Missouri
• Do you need a DBA?

3. Apply for an EIN

• What an EIN is and why even solo entrepreneurs need one
• How to apply (for free!) through the IRS

4. Get Licenses & Permits

• Common licenses and permits you may need
• Why skipping this step can lead to trouble

5. Protect Yourself with Contracts & Insurance

• Written contracts: always
• Why mixing personal and business finances is a big no-no
• What types of insurance to consider

6. Understand Tax & Legal Obligations

• Filing annual reports (especially for corporations!)
• Quarterly taxes and payroll taxes
• When to hire a CPA or bookkeeper

💡 Final Takeaway:

Starting a business takes courage—but you don’t have to go it alone. Legal and financial professionals can help you build a solid foundation from day one.

📢 Share This Episode!

Know someone ready to start a business? Send this episode their way—or post it on your favorite platform to help more dreamers become doers.

🎧 Listen now and turn your idea into income—with clarity and confidence.

✅ Need Help Launching Your Business?

Schedule your consultation at wheelanlaw.com to make sure your legal foundation is solid from the start.

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Subscribe to Law Days and Lattes wherever you get your podcasts!

Until next time, grab your favorite latte, hold your loved ones tight, and have a great week! ☕

WheelanLaw.com

This podcast episode contains general information for discussion purposes only. Each case is different and must be judged on its own merits. Missouri rules generally prohibit lawyers from advertising that they specialize in particular areas of the law.  This article should not be construed to suggest such specialization. Nothing on this site should be taken as legal advice for any individual case or situation.  This information is not intended to create an attorney-client relationship, and the listening or viewing of this podcast does not constitute an attorney-client relationship.  The choice of a lawyer is an important decision and should not be based solely upon advertisements.