Florida business attorney Steve Kramer answers some of your questions in regards to the best possible option in forming your business entity.
You’re looking to start a new business and you’re wondering whether or not to file as a corporation, an LLC, or even as a partnership. What do all these choices mean for you, and is one better than the others?
Each possible option you have in creating a business has advantages and disadvantages to it. You want to look at each option to see how it fits you personally, and to see how it fits your type of business. You may gain greater tax credits with an LLC, but a partnership may offer you something more. A corporation may allow you to do business in a certain way that an LLC and a partnership cannot.
It’s important to sit down with an attorney and discuss all of your options. Without understanding each of your options, you will be making an uninformed decision as to your business, and can be putting an undue stress on yourself as an owner.