Legal Question in Business Law in Florida
I'm a Mortgage Loan Originator in Florida, currently working for a broker as a 1099.
I would like to create a brand. Should I create an LLC for myself, or how does that work in this situation? Would it interfere with being an individual 1099?
2 Answers from Attorneys
The broker may just adjust your agreement so that it will pay your new entity instead of you personally. But there should be no issue. Of course, if you are technically an employee then this could cause an issue for the broker.
That's a good question. I'd say you're asking two different questions. This first part, about creating a brand, goes to how you're going to promote and market your business. But then you kind of switch gears and ask about how to setup your business considering the tax consequences. First item I'd say is to understand if there are any special rules of the FL Department of State which apply to your business. Look at the websites of other companies in your city to see how they're setup; if they have "LLC" after the company name, for example.
Good luck.
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