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I am a medical doctor with a solo practice. What is the best structure for my medical practice?

I am a medical doctor with a solo practice. What is the best structure for my medical practice?

  • Speaker 1: There’s some debate currently about whether having a corporation or having a limited liability company gives a physician more flexibility in his or her new practice. A corporation can be a professional service corporation, sometimes called a Professional Association, or a PA, or it can be a regular business corporation. It doesn’t matter. In a limited liability company, on the other hand, can take the aspects of a partnership or a corporation and is going to have much more flexibility associated with it.
    For a sole practitioner or even for two doctors together it makes little difference whether it is a Professional Association or a limited liability company. If the practice owns any real estate or major assets, we always recommend that those be put in a separate limited liability company. A limited liability company is the best entity to own any sort of large assets or real estate.

Picture of By George F. Indest III, J.D., M.P.A., LL.M.

By George F. Indest III, J.D., M.P.A., LL.M.

Board Certified by The Florida Bar in Health Law

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