I agree with Jim Boyle re: the use of the C-corp. A number of times clients have asked me why they don't have an S-corp. I throw the question back: Why do think an S-corp would be advantageous to you? The answer is usually something like..."well, the gal at the bank thought it would be a good idea"...or..."gee, the dentist down the hall from me has one!" They usually don't have a clue.




Another compelling factor that I explain VERY VERY carefully is the taxability of any residual S-corp income, whether the shareholders can get their hands on it or not. That usually sobers them up in a hurry.

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Replying to:

I am finishing my residency in June 2002 and will be working as part of two groups and billing under their tax id numbers, etc. Which would benefit me more: a Limited Liability Practitioner or S-Corporation and why? Thank you for your response!

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