Home: Message List - Best Business entity for online retailer in FL

Re: Best Business entity for online retailer in FL

Celina — Tue, 26 May 2009 05:06:31 GMT

Hello All,
it was such nice to visit this forum.the information provided by this forum is quite beneficial.
< a href="http://www.legalx.com">Find Lawyer</a>

Re: Best Business entity for online retailer in FL

AtlantaGreen — Mon, 18 May 2009 14:10:02 GMT

I'm in the same boat. Out of curiosity, what business entity did you decide on? How has it worked for you?

Re: Best Business entity for online retailer in FL

m.rick — Tue, 10 Jun 2008 21:43:37 GMT

Hi

You got some good advice from the others, one thing. The first post advised you to get the EIN from the IRS then register. You do it the other way around. How can a entity that has not been created get an EIN? From the entity then go online to the IRS.
I do agree about the s-corp being a good vehicle. LLCs aregreat in the correct place. An LLC is basically a partnership structure. Some Attorney I work with see big problemson the horizon for single member LLCs. ( The IRS considers them disregaurded entities) Some have already seen problems in the protection area. You and your wife may be considered on if FL is a community proprty state.
Corps havemore required paperworkbut it really is no problem to keep up. Look at www.about-small-business.com, it is pretty basic not fancy, but has some good info andnot selling you anything. You can form one yourself or ue a service, Good Luck!

Re: Best Business entity for online retailer in FL

amspcs — Sat, 07 Jun 2008 15:14:09 GMT

I'm right down the road from you in Central Palm Beach County--Boynton Beach.

Yes, you can operate a 1 or 2 man biz as an S Corp. Whether or not S Corp is the most appropriate option for you as opposed to an LLC or whatever is another matter, depends on many factors unique to you. You should seek the opinion of a professional. Whatever option you choose, setting up here in Fla is pretty EZ and inexpensive. via www.floridasunbiz.com I think is the state website.

I would be happy to refer you to some good local people I have done business with a long time, business attorney, CPA, bookeeper etc.who can make educated recommendations, all very honest Chamber of Commerce caliber folks. Contact me via email and I'll be happy to give names and numbers. Thanks and good luck. And welcome to Florida.

Barry G
amspcs@juno.com
www.MerchantServices-help.com

Re: Best Business entity for online retailer in FL

Bridge — Sat, 07 Jun 2008 11:48:44 GMT

Yes, for an "S" corp you can have only 1 emplyoee.

I do not know anyone over in West Palm. Start with the yellow page/web and make a few calls - let them know what you are doing, what you want them, to do, how moany other clients like you they have, and ask for a price quote. Meet them in person if possible.

You may alos want to use an attorney to help with the initial paperwork for your business. They could probably recommend a good local accountant.

If you find the answers helpfull, please mark them as "helpful".

Thanks,
Greg

Re: Best Business entity for online retailer in FL

zadpro — Sat, 07 Jun 2008 11:39:38 GMT

Bridge: Thank you for your answer. Two questions:

1- In S Corp: is it OK not to have extra employee (only myself)?

2- How/Where can I find a good CPA in West Palm Beach? I searched online but didn't find any.

Thanks

Re: Best Business entity for online retailer in FL

Bridge — Sat, 07 Jun 2008 11:24:11 GMT

Your best alternatives would be either a LLC or an "S" corp. If you choose an LLC, you can still elected to be taxed as an "S" corp - which you will want to do for tax purposes.

Persoanlly, I think the "S" corp. structure is a little simpler (less paperwork to start).

Start by gettingan EIN (emplyee identification number) from the IRS.

Toy can register your corp. on-line yourself in Florida at: www.sunbiz.org

Best Business entity for online retailer in FL

zadpro — Sat, 07 Jun 2008 10:26:43 GMT

Hello:
I'm moving from TX to FL and I am planning to start a eCommerce business in West Palm Beach county. I will be lunching my site and sell products, usually using drop-shippers.

My plan is to start the business myself from home, and probably with my wife's help, but after it gets published enough I MAY hire a person for assistance.

I need an advice on best business entity that is easy to manage and start. My previous in home business in TX was setup as Sole prop. but I think the income tax was too high. Please advice.

Thanks