Broward SCORE and BECON 10 partnered last night to film the SCORE workshop Legal & Tax Implications of Setting Up a Business in Florida.
The workshop covers the different legal and tax implications of setting one’s business up as different legal entities such as sole proprietorship, LLC, corporation (C or S.) The session at the Bank Atlantic Support Center drew an inquisitive group of business men and women from Miami to West Palm Beach and resulted in a very interactive and informative session.
While most people look to the business structures to make sure their personal assets are protected from business liabilities instructor Neil Rumbak of Rumbak Law took them a step further into discussion about which legal entity also protected an owner’s business from any personal liabilities or creditors that might result from foreclosure, divorce, personal injury suits, etc.
Jake Adams of South Florida Remote Accounting explained that how a person sets the business up can make a big difference in the income tax, Medicare, and Social Security payments as well as which expenditures qualify as deductible business expenses.
BECON TV was on hand to film the workshop as part of a series it is doing on small business in Florida. Writer/Producer Debra Hall-Green interviewed some of the attendees about their businesses and their aspirations as small business owners.
Click digital catalog for a PC/Mac view of SCORE workshops in Ft Lauderdale & Broward County
About SCORE: Broward SCORE is a nonprofit association dedicated to educating entrepreneurs and helping small businesses start, grow, and succeed nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA), and has mentored business owners for more than 47 years
About: Neil I. Rumbak - Neil is a practicing attorney with Rumbak Law, P.A., a tax and corporate law practice in Pompano Beach providing cutting-edge resolutions to business and individual’s legal issues
About: Jake Adams- Jake owns and operates South Florida Remote Accounting in Ft Lauderdale. He is a QuickBooks Certified Pro Adviser, Tax Adviser for H&R Block, and has taught accounting classes at Palm Beach State.
About BECON TV: BECON-TV is a part of the Broward Education Communications Network, and is owned and operated by the School Board of Broward County, FL. It is a noncommercial television station licensed by the FCC to provide educational programming to the South Florida community.