Blog

How Can an LLC Raise Money?

On the top of every business owner's mind as they try to help their startup survive is capital. No matter what structure you choose for your business, there will be significant challenges associated with getting the money you need to keep your company operating. As the limited liability company (LLC) is a rather popular structure among entrepreneurs, we will focus on some ways that LLC owners can raise money for Read More

When do Business Owners Become Liable for Company Debt?

Typically, the most reliable indicator of whether or not you will be personally liable for your company’s debt has to do with the legal structure of the company itself. Sole proprietorships, which are the choice for many first-time entrepreneurs and small outfits, are quite easy to set up but do not offer protection for owners when it comes to personal liability.  On the other end of the spectrum, corporations Read More

Single Member vs. Multi-Member LLC in Florida

Many first-time and seasoned entrepreneurs alike often choose to structure their companies as a limited liability company (LLC). This legal structure combines many of the favorable characteristics from sole proprietorships (one end of the spectrum) and C-corporations (the other end). Owners are referred to as members in the context of LLCs; depending on your particular situation, you might prefer to be the sole Read More

2020 Changes to Florida’s Corporations Act

The Florida legislature has been busy updating state laws governing various businesses the past few years; recently, the Florida Revised Limited Liability Company Act (FRLLCA) was passed. In January, the New Chapter 607 went into effect. This update is more commonly known as the Florida Revised Corporations Act, which amended parts of nearly every section of Chapter 607. This blog will give an overview of just a few Read More

Manager-Managed LLC vs. Member-Managed LLC

The limited liability company (LLC) structure remains a popular choice among entrepreneurs looking to start their own business. This type of business combines desirable elements of corporations with sole proprietorships. Differing from corporations, though, LLCs are not required to have Board of Directors making and voting on important decisions related to the direction of the company. Instead, the owners (called Read More

What Are Your Options For Your Commercial Leases During COVID-19?

The economic fallout from COVID-19 has many people worried about how they’re going to keep their business’s lights on. While the federal and state governments have attempted a patchwork of relief programs to help consumers stay afloat, entrepreneurs are still looking for every way possible to cut costs. One focus for business owners has been their commercial leases. To that end, this blog will outline some general Read More

Should You Structure Your Florida Business as an LLC or S Corp?

Many entrepreneurs are advised to file articles of incorporation as an S corporation in Florida. A major selling point, they are told, is that it receives pass-through taxation but still enjoys many of the benefits of corporations. There are many factors that go into determining the optimal business structure for Florida companies, but it is worth comparing and contrasting S corps and limited liability companies Read More

Business Contracts in the Time of Coronavirus

As everyone’s lives are upended due to the coronavirus pandemic sweeping every corner of the world, business as usual seems almost impossible. For example, what about that seemingly rock-solid business contract you signed last fall? Performing as specified under it seems almost impossible now. So, what are business owners and managers like you supposed to do? To provide a bit of guidance in these uncertain times, we Read More

Do I Need a Buy-Sell Agreement for My Business?

Do I really need a buy-sell agreement for my business? We get asked this all the time. Technically, no, you do not need a buy-sell agreement to operate your business; but you should certainly consider it. Without a thorough buy-sell agreement, your business is at risk. What is a Buy-Sell Agreement? A buy-sell agreement is a legal document between the company and its owners that specifies how a significant Read More

How to Start a Corporation in Florida?

To get a business idea off the ground in Fort Lauderdale, you must follow the designated steps for forming a company or corporation. There are some distinct advantages to incorporating – such as liability protection - but what is the process for conducting business as a corporation? The following are the steps you need to take to start a corporation in Florida. 1. Select the name of your Read More