Law Office of Yoel Molina, P.A.
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  • About The Law Office of Yoel Molina, P.A. Miami Law Office / Sobre la oficina de abogados de Yoel Molina P.A. Oficina de Derecho de Miami
  • Home Page for Business Attorney, Yoel Molina / Abogado Corporativo y de Negocios Yoel Molina
  • Traffic Ticket blog/ Blog de Multa y Tickets
  • Business Law
  • Derecho empresarial
  • Corporate & Business
  • Corporaciones & Negocios
  • T.V. Appearances, Awards, Affiliations, and Miami, Fl. Community Involvement of Business Attorney Yoel Molina/ T.V. Apariciones, Premios, Afiliaciones y Miami, Fl. Participación Comunitaria del Abogado Comercial Yoel Molina
  • Garantia De Reembolso De Dinero.
  • Client Video Testimonials of Business Law Attorney Yoel Molina / Video del cliente Testimonios del Abogado de Derecho mercantil Yoel Molina
  • About The Law Office of Yoel Molina, P.A. Miami Law Office / Sobre la oficina de abogados de Yoel Molina P.A. Oficina de Derecho de Miami
  • Acerca de la Oficina de Derecho Empresarial y Corporativo de Yoel Molina / About the Business and Corporate Law Office of Yoel Molina
  • Miami Corporate and Business Client Services / Servicios para clientes corporativos y comerciales de Miami
  • Biografía del Abogado de Derecho Empresarial y Corporativo Yoel Molina
  • Contact Business and Corporate Law Attorney Yoel Molina / Contacte al Abogado de Derecho Comercial y Corporativo Yoel Molina
  • Blog / Who cannot contract?
  • Terms and Conditions of Legal Service Agreement
  • Spanish / Espanol Blog
  • Business Blog
  • General Counsel Landing Page
  • Business Law Subscription Plan Service
  • Nuestros Precios
  • Business Package / Landing Page. Spanish
  • Business Package / Landing Page. BILINGUAL
  • Business Package / Landing Page. English
  • Our Fees
  • Money Back Guarantee
  • Appointment Page
  • Free legal tips Ad
  • General Counsel Unlimited Advice Plan Interest Form
  • About The Law Office of Yoel Molina, P.A. Miami Law Office / Sobre la oficina de abogados de Yoel Molina P.A. Oficina de Derecho de Miami
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Thinking of Forming a Corporation? Here is the pros and cons:

When you start a new business, your decision to incorporate or not is a critical one. Sole proprietorships (narrow scope), partnerships (not as much protection from personal liability) and limited liability companies (LLCs) are other kinds of legal business structures to consider. Corporations, like any other legal structure, have specific benefits and drawbacks. The nature and your kind of business will be a deciding factor if you should incorporate or not.

PROS
Legal Liability Protection for Owner: When the new owner(s) of the business have successfully incorporated, they have a reduced level of legal responsibility for the corporation's business functions and debts, since the law sees the corporation as an independent entity. For the corporation to keep its limited liability status, the owners have to adhere to certain mandatory legal corporate formalities.
Ability to Attract Investors: The Corporation can attract investors by issuing stock to provide capital for expansion of the business.
Power Structure: Corporations have a proven power and management framework that includes directors, officers as well as shareholders. The roles and responsibilities are clearly outlined for the various groups in the corporate structure.
Employee Stocks and Stock Options: Large corporations have the ability to offer stock benefits and stock options (employees can buy the stock at a predetermined price) as an appealing option for potential employees.

CONS
Time and Expense of Incorporation: Incorporating is a time-consuming and costly process. Numerous documents have to be prepared (like articles of incorporation and bylaws for the new corporation), along with filing fees that are paid to the Secretary of State Office or similar agency in your state.
Following Corporate Procedures: All corporations have to follow certain corporate procedures by law, which guarantees that the corporation is functioning as a separate entity, independent of the owners of the business.  These steps consist of regular directors meetings, maintaining corporate activity records and sustaining the continuing financial autonomy of the corporation.
Potential Tax Liability: Traditional corporation profits might be "double taxed." This means that profits earned by the corporation itself are taxed and individual stockholders who received dividends from the corporation are taxed too. This usually happens in bigger corporations and might not affect the owners and stockholders of smaller corporations because they are usually employed by the business itself and get salaries, which is a tax deduction for the smaller corporation instead of dividends. The tax status of an "S" corporation is a possible solution to double-taxation.


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"Mr. Molina has always been there for us with timely, reliable and competent advice. He is an important and valuable part of our team."  Corporate Client Eric Delgado, President of American International Export, Inc., a worldwide importer and exporter of brand name appliance parts.
"Yoel has been responsive and attentive to our company’s best interests and needs.   He has been a valuable resource to our company.  Any company that enlists his services would be in good hands-- including our own clients.” Corporate Client Gibran Flynn - Co-Owner and Founder of Eleva Solutions, Inc., the South Florida leader of outsourced HR, Staffing, Training, and Loss Prevention.
"My name is Anastasia Yecke Gude and I am the owner of Healing Hands Therapeutic Massage LLC.  In the process of my company’s growth and expansion, I suddenly found myself a few weeks ago in need of a 1099 contractor agreement, and I needed it ASAP.  As in, the very next day!  I contacted the Law Office of Yoel Molina and his assistant put me in touch with Mo.  I sent him what I had drafted up and he replied within a few hours with suggested revisions and clarifications, as well as a few insights I had not even considered.  I was thoroughly impressed by the quality of work he provided, especially considering the time crunch I put him in (sorry, Mo!).  I definitely recommend his services to anyone in need of a good contract attorney, and I will be calling him again for future work…hopefully in less of a rush next time!"