© 2022 MJH Life Sciences and Medical Economics. All rights reserved.
© 2022 MJH Life Sciences™ and Medical Economics. All rights reserved.
Your LLC operating agreement is the rule book that you have to comply with as your LLC wanders down the business road ahead. You'll want to make sure the agreement is written properly to protect you.
While doctors do go bankrupt, suffer major financial setbacks and lose valuable assets, it's not because of a malpractice lawsuit. Your assets are exposed to a lot of hideous threats.
Do you know the different between an LLC and a PLLC? Or whether a PLLC or a professional corporation offers more tax flexibility and asset protection?
Small companies that never "got off the ground" or died a fast death can be a financial death trap years later. Today, people are paying tens of thousands of dollars all because of fines levied by the IRS.
Your practice can do more to save on taxes and play more "games" with the IRS than an individual or an employee can. And we're not just taking about some extra deductions.
A doctor's practice is his or her most important tax shelter and doctors should be thinking about ways to use it as such each and every day.