Our firm recommends to individuals who are thinking of incorporating to reconsider and instead form a PLLC. This option will result in lower accounting fees and a reduction in the amount of paperwork since less forms have to be filed each year. However, if you have trouble saving and budgeting for estimated taxes and often find yourself owing a large amount of taxes at year end, incorporating your business, paying yourself a salary and having taxes withheld each payroll period may be a better way for you to operate even if it is more costly.
Please give us a call to if you are in need of assistance. We are here to help you create a solid business structure to support your therapy practice.
Dennis Fingold of Mayne and Fingold, CPAs LLP