mhassan Posted October 23, 2016 Share Posted October 23, 2016 Hi, I am going to open an S-corp. I want to know what my name should be. Also, this is complicated to open up so should I use a site like bizfilings.com? Link to comment Share on other sites More sharing options...
Gordon, PA-C Posted October 24, 2016 Share Posted October 24, 2016 Opening an S-corp is easy. It's state dependent but in most of them all you have to do is submit a filing to the state business regulatory commission. It's a simple one page form. Don't use the online sites like legalzoom or bizfilings, it's a waste of money. Link to comment Share on other sites More sharing options...
Boatswain2PA Posted October 24, 2016 Share Posted October 24, 2016 At the risk of sounding rude here....if you think filing for an S-corp is complicated, and need to come here for help in naming it....you need a LOT more education on the topic before you spend the time/money on doing this.You don't need to be an S-corp to be paid as an IC (1099). An S-corp LLC won't give you any protection from malpractice.It's almost always an extra cost, and administrative burden, to have an LLC in these cases.If your business model is something other than a method in which you get paid (1099 vs W2), then ignore this advice.Caveat: You may put OTHER assets into an LLC to protect them from malpractice claims. We have our real estate investments/holdings in an LLC in the hopes of protecting them from malpractice claims should the need ever arise. Link to comment Share on other sites More sharing options...
Int'l PA Posted October 24, 2016 Share Posted October 24, 2016 Having been through all of this myself as a practice owner, do this. Buy the best legal and financial advice you can afford, and follow their advice to craft the most detailed, powerful, and impenetrable operating agreement you can make. S-corp delegation is simple, Keeping yourself insulated from scum bag attorneys is another exercise altogether. FYI, never put real property in an LLC. It's a myth that LLCs provide any insulation from tort claims. They are "pass-through" entities in many states. Retain an attorney in your state familiar with healthcare law and heed their advice. You will recoup your investment in the long-run. Link to comment Share on other sites More sharing options...
Boatswain2PA Posted October 24, 2016 Share Posted October 24, 2016 I have a real estate BUSINESS that is a S Corp LLC. While not bulletproof (growing number of cases that pierce the corporate veil for personal liability claims), this CERTAINLY provides me much greater liability protection than if I owned the real estate personally. Link to comment Share on other sites More sharing options...
TWR Posted October 25, 2016 Share Posted October 25, 2016 Gordon, I have used legalzoom on several occasions and found it to be easy, good bang for buck and customer service was good. Link to comment Share on other sites More sharing options...
jmj11 Posted October 25, 2016 Share Posted October 25, 2016 I had a business lawyer set up my first one. However, I did use legal zoom for my last one. Link to comment Share on other sites More sharing options...
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