In a Limited Liability Company (LLC), owners report business profits or losses on their personal income tax returns. The LLC itself is not a separate taxable entity. LLC owners are protected from personal liability for business debts and claims (limited liability). Only the assets of the business itself are at risk if the business owes money or faces a lawsuit.
You do not have to hire a lawyer to set up an LLC, but it is a good idea to have a Florida business lawyer read over paperwork to ensure that all forms and documents are completed accurately and in your best interest. At the same cost for setting up an LLC through any other registered agent, Ansbacher Law will set up your LLC and ensure the paper work is filled out properly and that your best interests are preserved.
Contact us today for additional information or to arrange a consultation with an Ansbacher Law attorney.