The process of getting a new business off the ground in Florida can be very exciting. At the same time, the sheer number of things to make sure are taken care of can be overwhelming, especially if you have never started a company before. Drafting a business plan is one of those activities. Following are some tips on how to create a good plan for your new business.
When setting up a new business in Florida, many people find that an S corporation operating model offers unique benefits, especially for small businesses. Entrepreneur explains that with an S corporation, owners can avoid personal liability as with a C corporation structure. However, they can also enjoy significant tax benefits.
If you are creating a new business in Florida or expanding an existing one, you have many issues and laws to deal with. The number of things that you must be aware of and make decisions about can be multiplied when your business operates in multiple states. Among the topics that multistate corporations must contend with is the payment of taxes.
Every year, numerous new businesses are launched by entrepreneurial Floridians. Many things go into making any business successful and learning from those that have made this happen is always recommended. Doing so can be a way to avoid making some common start-up mistakes.
When you are considering the creation of a start-up company in Florida, one of the first decisions you will have to make is what type of business you want to create. By this, we mean what operational structure will you utilize? Options include a sole proprietorship, a partnership, a corporation and a limited liability company, or LLC. This latter category has grown in popularity among many people in recent years and offers unique features.
When businesses are formed in Florida, owners must make many critical decisions up front. One of these is the type of business structure that will be utilized. This may include a sole proprietorship, a limited partnership, a limited liability company or a corporation. Many companies have leveraged the corporation for its ability to guard owners against personal liability. If this is the agreed-upon path, the next decision should be whether or not a C-corp or Sub-S corporation is the best option.
Among the most important decisions that you can make during the earliest days of your business in Fort Lauderdale is determining the sort of human resource policies you plan to implement. Among these may be your decision to adopt an “at-will” employment policy. If you choose to employ people at-will, it’s important that you understand all of the nuances that go with this employment philosophy in order to avoid the potential for litigation in the future.
Here at the Law Offices of Levi Williams, P.A., we’ve helped countless Fort Lauderdale clients select the right business entity under which to form their companies. If you and a friend or colleague are looking to form a professional business partnership, you may be wondering which is best: a general partnership or an LLP. The answer to that depends largely on the nature of your business.
Business owners and executive management teams in Fort Lauderdale often find the fastest way to grow their business is through acquiring other companies. In certain scenarios, this may mean acquiring a competitor that is struggling in order to grow a company’s market share within its own industry. Yet in other cases, a business acquisition may be undertaken in order to expand the product or service footprints of two companies. For some, this happens through a series of acquisitions.
Many of the Fort Lauderdale small business owners who come to see us here at the law offices of Levi Williams, P.A. are looking to make the right decisions regarding the growth of their businesses. Many of those decisions are made during their earliest days of operations as they choose the most advantageous business structure to adopt. In this post, we’ll examine some of the benefits to incorporating, and how to determine if one’s business qualifies to be classified as a sub S corporation.