#PTonICE Podcast

Episode 1899 - Starting your own practice, pt. 1: incorporation

4 snips
Jan 23, 2025
Discover the key benefits of incorporating your own practice, from financial protection to legal safeguards. Learn how incorporating can reduce tax rates and allow more expense write-offs. Even solo practitioners can benefit from early incorporation to prepare for future growth. This insightful discussion covers essential post-incorporation steps and compliance requirements that every practitioner should know. Tune in for valuable advice on laying a solid foundation for your physical therapy practice!
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ADVICE

Incorporate Your Practice

  • Incorporate your practice, even if you plan to stay solo.
  • This offers financial and legal protection, like reduced taxes and expense write-offs.
INSIGHT

Personal Asset Protection

  • Incorporation creates a legal and financial division between you and your business.
  • This protects your personal assets from business liabilities and vice-versa.
ADVICE

DIY Incorporation

  • Incorporate online through your state government website.
  • Avoid services like LegalZoom; they charge high fees for a simple process.
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