Legal & Tax Implications of Starting a Business in Florida
SFLO-Entrepreneurs by Broward SCORE
Set your business up the right way and minimize taxes and personal liability. Learn how to protect your assets.
Many new business owners do not spend enough time & planning to ensure they choose the right legal entity when formally setting up their business. They push off legal and tax issues, and see them as boring and confusing. As a result, they neglect to view the law and the tax system as avenues to potential success in their businesses and roadways away from potential pitfalls. When a business owner understands legal and tax issues that affect his or her business, however, he or she may become more empowered to discover the paths to success in business.
Join Eric for an interactive workshop that will provide you with a wealth of information necessary to start or formalize your young or evolving business.
During the workshop, you will:
- Learn which business entity may help you avoid personal liability in your business;
- Discover which business entity may save you taxes;
- Determine which business entity may protect your assets;
- Understand which business entity may provide you with the most efficient management structure;
- Find out where to seek business law and tax advice;
- Figure out how to pick a name for your business; and
- Gather information concerning necessary licenses, state and local taxes, minimum wage, and other regulations.
This is a very interesting workshop that adds clarity to a confusing subject for many. Learn the difference between sole proprietorship, LLC, “S” or “C” corporations, partnerships, etc. Understand which can lead to paying double taxes on your earnings. Know which structure protects your personal assets from business liabilities. There is also the issue of protecting your business assets from your personal liabilities – divorce, foreclosure, etc.