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When starting personal trainng & group exercise biz what is best company structure?
West Palm Beach, FL
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Posted about 1 month ago in Corporate / Incorporation
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I will be teaching one on one and small groups outside of the gym setting. For instance, teaching water aerobics at local condo assoc & teaching fitness bootcamp at local park. Will be working as Sports Psych Coach for local athletes. Also will be reselling items on website. I will be the only employee. With joint income filing I will be in the highest tax bracket even though my biz will make small income. Looking for best structure for legal safety as well as best tax saving options.
Answers (3)
David Michael Goldman
This attorney is licensed in Florida.
Posted about 1 month ago.
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I would look at the LLC and tax it as a partnership or S corporation depending on how its set up.
David Goldman Apple Law Firm PLLC 331 East Monroe Street Jacksonville, FL 32202 Tel (904) 685-1200 Fax (904) 212-0678 http://www.JacksonvilleLawyer.pro/ http://www.GunTrustLawyer.com/ http://www.FloridaEstatePlanningLawyerBlog.com/
David Michael Goldman
This attorney is licensed in Florida.
Posted about 1 month ago.
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I would look at the LLC and tax it as a partnership or S corporation depending on how its set up.
David Goldman Apple Law Firm PLLC 331 East Monroe Street Jacksonville, FL 32202 Tel (904) 685-1200 Fax (904) 212-0678 http://www.JacksonvilleLawyer.pro/ http://www.GunTrustLawyer.com/ http://www.FloridaEstatePlanningLawyerBlog.com/ 
Mark Jason Rose
This attorney is licensed in Florida.
Posted about 1 month ago.
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Based on your business venture, I would say that a corporation would be inappropriate. Typically a corporation would be preferable if you were looking to raise capital by selling shares of the corporation. However, an LLC (limited liability company) offers similar individual protection to a corporation, but is ideal for 1 or few "shareholders", which are called "members" in an LLC.
I would recommend you consult a tax professional regarding any tax consequences or advantages you may be able to obtain with your new business venture. I can recommend someone should you need further advice. All the best, Mark J. Rose Roig, Tutan, Rosenberg & Zlotnick, P.A. mrose@roiglawyers.com |
