Setup a new FLORIDA Corporation or LLC - Step by Step

QuickBooks 30-day free trial + 30% off for 12 months:
quickbooks.intuit.com/partner...
If you need to hire a CPA, email me [e-mail]
FL Website for setting up corporations: www.sunbiz.org
IRS Website for EIN/TAXID: www.irs.gov/businesses/small-...
Form 2553: www.irs.gov/pub/irs-prior/f25...
Form 8832: www.irs.gov/pub/irs-pdf/f8832...
S-Corp best Entity Choice video: • Why S-Corporations cou...
Annual Report/Update in Sunbiz: • Update your Annual Rep...
Timestamps
00:00 Introduction & Search for the name first
01:40 Create a Corporation or LLC with the State of Florida using sunbiz.org
15:10 Apply for a Tax ID or EIN with the IRS online
24:45 Check Incorporation Status / Update the EIN info
28:46 Elect to be taxed as an S-Corp form 2553
34:16 Convert an LLC to or S-Corporation with form 8832
39:28 When you need a CPA and/or Attorney
Call our office 954-414-1524 to setup a private training/consultation about QuickBooks, Excel, Accounting/Bookkeeping, Taxes, and/or General Business Consulting (rates vary from $275 to $650) for first consultation depending on length and consultant required. E-mail Hector your questions [e-mail]
To setup a 30-day free trial of QuickBooks Online and then a 30% www.quickbooksoffer.com/?cid=i...

[@tomaitoe]

Fantastic video. No fluff, no excessive promotion, just clear, concise information. I appreciate this so much, thank you!

[@HectorGarciaCPA]

:)

[@the_mastermind_project]

I can not express how much this video has helped me straight to the point no crazy advertising no weird rambling exactly what I was looking for. Thank you so much for providing this video.

[@HectorGarciaCPA]

Glad is useful

[@ronnies6811]

Thanks so much for all your info, Hector.

[@garaudyjoseph8646]

Great share and breakdown, and appreciate it the info, starting my S CORP today!

[@mhazley71]

Extremely informative. Step by step walk-through. I subscribed, had to. I'm 37, and looking to reach my children what I wasn't. May you, your family, the viewers, and theirs, stay blessed and manifest mightiness. Thank you Mr. G, the G is for Go get it👍👍

[@HectorGarciaCPA]

:)

[@KOBLMP]

This will be the first time I open up my own corporation. Thanks hector

[@michaeldettmer9734]

Thank you Hector for your guide and assistance in setting up a company!! Fantastic, clear instructions, very informative. 👏👍👍

[@HectorGarciaCPA]

Great :)

[@ochetura03]

Thanks for the step by step you are awesome. Submitted my S Corp on Saturday and i did my EIN today . Thanks

[@HectorGarciaCPA]

Great

[@ochetura03]

@@HectorGarciaCPA it’s been 10 days since i did the application and no word yet should i call or just be patient?

[@plomo508]

Thank you Hector this video was awosme. I was able to do everything that I wanted. Thank you and God bless.

[@HectorGarciaCPA]

:)

[@monikasingh-pq9vk]

Step by step walk-through is extremely informative. . I appreciate your time👍Thank you.👍

[@HectorGarciaCPA]

:)

[@yesenia-romero]

Fantastic explanation! Right on point and everything step by step 👍🏻

[@HectorGarciaCPA]

:)

The best!!!!! Thank Hector

[@reynaponce1069]

YOU ARE THE BEST, THANK YOU FOR ALL YOUR HELP WITH ALL YOUR VIDEOS. GRACIAS

[@HectorGarciaCPA]

:)

[@Browmacist]

Humble and Genuine content . TYSM for sharing

[@HectorGarciaCPA]

You are very welcome!

[@jcsto]

Straight to the point and super clear! Great video

[@HectorGarciaCPA]

:)

[@x-frce0074]

Thks a million bro! Extremely helpful 🙏🏻

[@HectorGarciaCPA]

You welcome

[@smiler0616]

An excellent video, Hector. Gracias, senor!

[@HectorGarciaCPA]

:)

[@brittreacts]

Hello from 2023!!! This was so helpful, thank you!!!

[@nellycastillo340]

Awesome! Thank you so much.

[@HectorGarciaCPA]

:)

[@MrAllenca1]

Thanks hector

[@Feymorales]

This is an amazing video thank you!!!

[@HectorGarciaCPA]

You are welcome

[@jessicae3281]

Hi Hector, just as an fyi, they've changed the documents in 2022. Not by much, you can complete the forms by watching this video and reviewing the instructions for the forms. Thanks for doing this, you have taken away the fear of filing/registering a business - saved me some money not going thru a service.

[@HectorGarciaCPA]

Awesome

[@vijay9f]

thanks man, i needed this. Make more

[@HectorGarciaCPA]

:)

[@NoMad_Production]

the best walkthrough explanation

[@HectorGarciaCPA]

:)

[@gabrieltheshark856]

Appreciate It! I just filed for my LLC and very excited to begin a new chapter of my life. Appreciate the step by step tutorial, saved me a small fee to someone who charges to do something this simple.

[@HectorGarciaCPA]

That was the point:)

[@joewoerly7767]

Great video!

[@HectorGarciaCPA]

Glad you enjoyed it

[@SergeyTrifilin]

Thank you.

[@ingoodhealthyoutubechannel]

Thank you very much

[@HectorGarciaCPA]

;)

[@mayisaume9094]

Thank you very mucho for all the info. just oe question: how I know what corporation I need to open?

[@jajabanks5713]

question on IRS portion. If I created LLC on sunbiz but want to be taxed as scorp after two forms, should I pick LLC on IRS website when creating EIN?

[@williamledesma1101]

Hi great video!!! Question when registering my LLC on Article of organization. If I were to pick manager managed and in title I would like to put myself a CEO would that be ok?

[@yanrojas509]

Great video thank you so much question can I put my name on registered agent ? Or do I have to get someone for that

[@tertius2666]

thank you! i have a question..do i fill corporate stock share? BC i already didn't will that be an issue in the long run? i left it empty. another thing is i am a single person LLC would i need to fill both 8832 and 2553 and send both? what other things should i be on the look out for? thank you sir your doing an awesome job!

[@benjaminchen1131]

Very good topic! if I want my new bird LLC is owned by another Sky LLC. both of these are in Florida. how can I set a connection between these two LLCs when I filing electronically? Thank you!

[@Zulfiqar110]

With this video's great help, I registered C Corp with FL. Now how do I register a DBA for this new C corp?

[@VictorVargas_]

I went ahead and made a ipostal account, where do I update the address to? Primary my house or both under the virtual address?

[@tarekdemiati9991]

Could you recommend a serious registered agent in Florida ?

[@minimwamini7391]

Thank you for the information, can you share with me the video shows how to exchange from S-corporation to C-corporation?

[@HectorGarciaCPA]

I dont have a video like that

[@josuelopez1385]

excellent tutorial Mr. Hector, I have a question, if I live in Virginia, but I would like to open a company in Florida but I do not have an official address in Florida, can I open a company with the Virginia address?

[@monikasingh-pq9vk]

I think yes...

[@visalros6232]

Hi Hector, is your office still the same as this video? I would like to have you as my tax advisor and business tax

[@marcialabrahantes3369]

you don't need to file both forms of you have an LLC you either file 2553 to be treated an S Corp, or 8852 to treated a C corp

[@HectorGarciaCPA]

I always do both back to back

[@creativevoice730]

It's recommended that you get someone else to be a registered agent other than yourself and also use a different address from your home address

[@HectorGarciaCPA]

Yes

[@lelexyyy]

If i followed your instructions do i have to wait for my S Corp to be confirmed or can i open a business checking account already with my EIN number?

[@HectorGarciaCPA]

You can open the account

[@reynaponce1069]

i have a question, I really be so grateful if you can answer please, I filled out my LLC already but when I did the EIN, I read that don't put LLC in the name so I didn't. now at the end of the name of my LLc it doesn't have LLC, Do you think that is going to be any problem when I do taxes.

[@HectorGarciaCPA]

Should be OK. And you are request a name change with the IRS on the first filling

[@Englishkseniyali]

Hi Hector, thanks for the video. question: you've mentioned that if I state "NO" in a section "Should we expect W2 forms from you" , I can set it up later. Could you tell me how? Do I need to send an additional form to IRS?

[@HectorGarciaCPA]

Just by sending the first 941 form is enough to start payroll with the IRS

[@Englishkseniyali]

@@HectorGarciaCPA thank you for the reply. The payroll companies do that right? like Gusto?

[@gabgarcia7]

It didn’t work for me to file a ein ( perhaps my ITIN is not active anymore ) :( so I need a professional to file a form W7 n get the ITIN ?

[@HectorGarciaCPA]

Yes

[@harik13]

Hi Hector, thanks for the video. I filed for a new company on 28th Jan. Processing time today is 02/08. I still didn't get any response. No one picks the call and they don't respond to email. Do you know what can I do to get company registered or get status.

[@HectorGarciaCPA]

They are taking like 2 weeks

[@lazararodriguez7116]

Thank you so much… from now on I am subscribed to your channel, I have a question… I submitted the payment but didn’t click finish !!! 😟wonder is got summited or not …

[@HectorGarciaCPA]

Impossible for me to answer that

[@lazararodriguez7116]

@@HectorGarciaCPA Thanks 🙏 o call and they said yes 👍

[@jasonb886]

If you do the s corp, would you be considered an employee, and should click the box?

[@HectorGarciaCPA]

If you run payroll, then yes

[@marcpadilla2804]

How long did it take for your SunBiz to get approved?

[@HectorGarciaCPA]

2 weeks

[@maddysworld2882]

Hello do you have to register your Fictitious name? Or do you suggest I do?

[@HectorGarciaCPA]

Depends on your needs

[@and6sdf]

Hi. Hector. I just create my single member LLC in FL and got the EIN. I want the LLC tax as S - corp. should I file 2553 or 8832 ? thanks in advance.

[@and6sdf]

@@untilco thank you for your help. Camilo. Have a wonderful weekend

[@earth2joe719]

i did my my ein number first and then the llc and now the names are different but share the same ein number is that a problem or should the names match?

[@HectorGarciaCPA]

They should match

[@earth2joe719]

@@HectorGarciaCPA thank you for reply :)

[@lemonpepperwings698]

Hi what if you filed as new business before may 1 do you still have to pay for the 150 annual fee??

[@HectorGarciaCPA]

In 2024, no.. if you created it prior to 2024 yes

[@lemonpepperwings698]

Thanks for replying Hector yes I called sunbiz they said no

[@lemonpepperwings698]

Hi Hector I got a labor law poster letter thru the mail after I formed the scorp is this a scam letter or legit?

[@HectorGarciaCPA]

You might need to work with a lawyer on these things

[@hayderjawad2963]

Can you help me please with my document in sunbiz . I’am shareholder of 50% of restaurant in amedment in sunbiz but they said this does not prove any thing

[@HectorGarciaCPA]

I don’t provide legal advice. Ownership structure is not within the domain of work that accountants do.

[@armandogorgoyromero6162]

Hello, I followed the process step by step. I filled my form 2553 two months ago now and still don't have any IRS confirmation about my S-Corp, There is any way i can check online the status of the S-Corp process ? Thank you so much and very helpful your video

[@HectorGarciaCPA]

No.. you need to call them

[@armandogorgoyromero6162]

Thank you @@HectorGarciaCPA

[@stephlegros9757]

Hello, how much do you charge to file the documents for an Llc?

[@HectorGarciaCPA]

$500 to $1000

[@ceasarmorillo3691]

Am I able to apply for EIN right away or do I have to wait until the company is approved by the department of state

[@HectorGarciaCPA]

I would wait for the approval, in case the name is not accepted

[@ceasarmorillo3691]

Thank you

[@estebitalazo]

Please let me know the process to file the 2553, thanks!

[@HectorGarciaCPA]

@@estebitalazo fill it out and mail it. All the instructions are in the IRS website

[@staigmenelex]

after we fax f2553, should we expect to get any letter back to confirm? O should we check it somehow that IRS got it? thanks

[@HectorGarciaCPA]

Get a letter back like in 4 weeks

[@staigmenelex]

@@HectorGarciaCPA while waiting for the letter from IRS, can I open up my bank business acct and start working/getting income? Or should I wait until I get response from IRS? Thanks

[@HectorGarciaCPA]

@@staigmenelex yes, if you have an EIN, you can start operating

[@staigmenelex]

@@HectorGarciaCPA also, when I got an email with my EIN it was said that I have to fill 3 more forms: f940, f944 and f1120. Should I do it or my Accountant has to do it? (Due dates are 01/31/2023; 01/31/2023 and 04/15/2023. Thanks again

[@HectorGarciaCPA]

@@staigmenelex thats only when you start payroll

[@panseycain7086]

Hi How do I fill this out as a real estate agent with a brokerage

[@HectorGarciaCPA]

I would do Scorp

[@Migueltoldyouso]

If I'm trying to make my family trust the owner of my corporation where do I put the name? Would it be under registered agent?

[@HectorGarciaCPA]

Owwnership is not based on what sunbiz has

[@Migueltoldyouso]

@@HectorGarciaCPA I'm not understanding

[@HectorGarciaCPA]

@@Migueltoldyouso whatever you put in Sunbiz is not proof of ownership

[@badgorilla3038]

Why Florida state refused the virtual adress i provided from anymail adress after i filled my LLC!!!

[@HectorGarciaCPA]

Needs to be a real address

[@heavyduty1936]

Hi, question why you want to use virtual address?

[@heavyduty1936]

Hi thanks, I need to open company in New Jersey you have the link how start?

[@HectorGarciaCPA]

I dont know NJ

[@heavyduty1936]

@@HectorGarciaCPA ok, question what you recommend for me I want start mobile mechanic service but for now only Part time until I have all my customers, what do you recommend LLC or S corporation company ?

[@gabgarcia7]

Hi! Do they refund the money in case they reject it? Thnxxx

[@HectorGarciaCPA]

No, you would need to change the name

[@gabgarcia7]

@@HectorGarciaCPA thank u so much :D

[@gabgarcia7]

@@HectorGarciaCPA Once I tried to add my ITIN number ( TO GET AN EIN ) it said: "We apologize for the inconvenience, but based on the information provided we are unable to provide you with an EIN through this online assistant. Please call #..." :(

[@lemonpepperwings698]

Hi Hector,I also received a letter to pay a certificate of authentication letter to pay 125 I wanted to know are these letters you receive after you formed a business I did all the steps you did to form the business?

[@HectorGarciaCPA]

Why do you need that letter?

[@lemonpepperwings698]

@HectorGarciaCPA yes Hector I received 2 letters saying labor law compliance but I was researching and they say it's a scam I was going to call sunbiz and see if it's true

[@lemonpepperwings698]

@@HectorGarciaCPA the fee is$ 94

[@lemonpepperwings698]

@HectorGarciaCPA I was just wondering did you get these letters when you filed for a new business

[@lemonpepperwings698]

@@HectorGarciaCPA I also received a certificate of status request form

[@melr0s983]

What is the person already has a EIN number

[@HectorGarciaCPA]

The “person” or the business? If you setup a new company/business, it needs a new EIN number

[@AlexanderBeenGreat]

It is telling me that my EIN number is $300.

[@HectorGarciaCPA]

Ein is free

[@MrAcacio]

Hi Hector, thank you so much for this video. Its will be my first time I open up my business. I will send you a email, maybe you can help me. thank you for this great/super video.