Hi All; In most cases private practices with sole proprietors are limited liability corporations (LLCs). One major benefit of the LLC is that your outside assets are protected from leans and lawsuits. Having an LLC but operating as an individual can void this protection. For instance, it is advised that you sign contracts as "Signature, manager", or at least have yourself defined as a manager of your LLC in your contract.
Limited Liability Company<http://www.investorwords.com/2817/Limited_Liability_Company.html>. A type of company <http://www.investorwords.com/992/company.html>, authorized only in certain states<http://www.businessdictionary.com/definition/state.html>, whose owners <http://www.businessdictionary.com/definition/owner.html> and managers <http://www.investorwords.com/2937/manager.html> receive<http://www.businessdictionary.com/definition/receive.html>the limited liability <http://www.investorwords.com/2816/limited_liability.html> and (usually) tax <http://www.investorwords.com/4879/tax.html> benefits<http://www.investorwords.com/461/benefit.html>of an S Corporation <http://www.investorwords.com/4411/S_Corporation.html> without having to conform to the S corporation<http://www.investorwords.com/1140/corporation.html>restrictions. http://www.investorwords.com/2853/LLC.html# If a company you're subcontracting with wants to specify in the contract that it is *only you* that they approve, that should be clarified in a paragraph rather than allow the LLC structure to be bypassed. This should protect you, your family, your home, your car, etc. I hope this helps, Ed Kaine, OTR/L, RFT President of the League of Functional Therapists "Functional Therapy... the Next Generation of OT!" www.FunctionalTherapist.org <http://www.functionaltherapist.org/> -- Options? www.otnow.com/mailman/options/otlist_otnow.com Archive? www.mail-archive.com/otlist@otnow.com
