At Bryant Taylor Law, we understand the excitement and passion that goes into starting a business. We hear from clients all the time who are ecstatic to get into the business formation process, but we also know doing so without being flexible can derail the entire plan. Ultimately, starting a business is more than just having the means and the vision to do so. It’s a crowded field of startups, small businesses, and 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
What Does it Mean to Have A LLC Taxed as a S-Corp?
Imagine this: You are a first-time business owner and have the idea to start your company as an LLC. You go to your accountant for tax advice and you are told that your LLC needs to be a S-Corp. Your accountant explains the details, but the only thing that matters is that you are told this set up saves you money. An LLC and a S-Corp are two different types of business entities, each with its own set of rules. An Read More
Which is Better: A Single-Member LLC or a DBA?
At least once a week, a business owner who has been operating under a DBA (aka fictitious name or “Doing business as”) comes to us because someone told them they should set up an LLC for their business. They are skeptical of forming an LLC and inevitably ask, “If it’s just me in my business, is a LLC better than a DBA?” In case you aren’t familiar, a DBA is a name that a business markets to the public that is Read More
Is a single member LLC a good idea?
A single member Limited liability company (LLC) is a business entity that offers both liability protection and tax benefits. However, a LLC involves a cost to properly establish and paperwork that is not required with a sole proprietorship. This may lead one to ask—is the single member LLC a good idea? From a business lawyer’s prospective, the answer is yes. If you are a business owner with no partners, the Read More
Forming a Limited Liability Company (LLC) in Florida
Forming a Limited Liability Company ("LLC") is fairly straightforward in Florida, and only requires a few steps to get you up and running. Before deciding on an LLC, you should know that this is a type of business entity that offers liability protection for its owners. Although an LLC is a relatively new type of business entity, it has become very popular in Florida. This is mainly because of the flexibility in how Read More
How to Form a Non-Profit Corporation in Florida
A non-profit corporation is a business entity that provides a benefit to the public. In exchange for the public benefit, the corporation is exempted from paying taxes on the money the corporation receives. We previously discussed how to form a business in Florida, but here are the steps to forming a non-profit corporation in Florida. 1. Choose a business name First, make sure the name is not the same or similar to Read More
Change is Coming to Florida’s Corporation Laws
Florida recently passed legislation that will result in a re-write of Chapter 607 of the Florida Statutes otherwise known as Florida's corporate statutes. This is the first re-write of the corporate statutes in more than 30 years. The new changes are expected to address several topics such as corporate document filings, proxies, service of process, remote participation in shareholder meetings, Read More
Why Your LLC Needs An Operating Agreement
What is an Operating Agreement? The LLC's most important yet overlooked document is the operating agreement. An operating agreement is a formal document that describes how a Limited Liability Company ("LLC") will operate. It typically describes how the LLC adds new members, the voting powers of the individual members, tax treatment, or how the members manage the LLC. Florida law does not require LLCs to have an Read More
Common Business Mistakes Made Every Day
At Bryant Taylor Law, we have a healthy mix of experienced and novice business owners. Here is a list of the 4 most common business mistakes we have observed with our business-owner clients. Business Mistake #1 Not understanding their financials Business owners do not need to be an accounting expert, but they must have a basic understanding of their business financials. Hiring an accountant helps, but it is not Read More
