LLC formation for locums work

[BIGphysician]

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Anyone have any experience with this?

 

[MTGas2B]

Why?

If you aren’t employing anyone I don’t see an advantage to incorporating for 1099 work.

The corporate veil of an LLC can be pierced if someone takes action against you.

For shared ownership it makes sense. Can change owners just be refilling papers. I do this for a toy I own.

If you have employees can offer some protection.


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[chocomorsel]

I have one. Good for depositing all your 1099 money and deducting a bunch of stuff. Like my car for example. But I have slowed down a bunch due to fellowship and think I am gonna close it for now and maybe open another one in the future.

 

[MTGas2B]

Can still do all of the deductions as sole proprietor with C Corp or S Corp.


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[narcotics999]

I have one. Good for depositing all your 1099 money and deducting a bunch of stuff. Like my car for example. But I have slowed down a bunch due to fellowship and think I am gonna close it for now and maybe open another one in the future.

You can do pretty much the same deductions as 1099 sole proprietor. The only difference is the extra medicare tax.