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The Perfect Doctor's Office!

Many physicians will think that right off the bat, than any solution is too complicated.

If you could find a structure that would save you money on taxes and reduce your liability, would you change your existing company structure or at least change your payroll method? Many physicians will think that right off the bat, that any solution is too complicated.  We think otherwise, and believe we can show you that it is worth the effort to investigate if using a Professional Corporation (P.C.) is a personal solution for you as a physician.

The ensuing conflict might be with the older established members versus the younger physicians who now begin to plan their estate.  There are solutions for individuals within a company even if the group doesn’t jump towards the perfect company solution.

The first solution for the company requires the cooperation of the company.  The plan begins with a company, usually a C-Corp or an S-Corp.  We will call this the “parent” company.  There must be a Corporate Resolution and decision by the Corporate Board to allow the company or physicians within the company to participate.  All participants must indemnify the company and all physicians in the company.  Some simple paperwork will need to be drafted.

Instead of taking wages by W2, the owners are going to switch their payroll to a Professional Corporation or a P.C.  The owner physician’s P.C. can then be conducted in the business manner with the tax deductions and expense that the physician deems necessary.  This way physicians can write off their expenses such as cell phones, automobile leases, travel to conferences and other appropriate professional disbursements.

If a medical business does not reorganize or switch all of the physician it is still possible that individual physicians can change to this payment method. 

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