Anyone Declare Themselves A Corporation?

[Mindy325]

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What are the risks and benefits of it (in a hospital setting)?

I've been W2 all my life. Is it worth it tax wise to be 1099?

In the event of a lawsuit, would I as a corporation bear more liability than I would as just me?

In the event of a judgment in a lawsuit against a corporation that would result in a databank entry, how does the entry go in, against the corporation or against the person?

Thanks in advance.

 

[Sergio99]

There is absolutely no difference in the way you practice and your lawsuit liability. The only difference is in some tax advantages, some of which will be federal and apply everywhere,and some may be state specific. The best person to advice you in that respect is you CPA. Find a CPA who knows medical practice and he will be able to tell you what is best for your state. You have to factor in the extra bookkeeping you will have to do and the accounting expenses as well.