What is the advantage of a California Professional Corporation for a medical practice or professional practice in San Diego? Why is a California PC a better legal entity than an LLC, S-Corporation or C-Corporation? California has specifically established the Professional Corporation or PC for those with advanced licensing and degrees in California such as:
- Doctors, Physicians and MD’s
- Dentistry Practices
- Attorneys and Lawyers
- Certified Public Accountants
- Architects
- Engineers
The California Professional Corporation or PC provides additional protections for shareholders as well as expanded deductions and financial advantages. The first protection of a PC is the separation of liability between shareholders of the Professional Corporation. Each shareholder is held separate and not liable for malpractice or negligence and the associated liabilities caused by another shareholder in the PC.
The California Professional Corporation for a healthcare business allows physicians and licensed professionals to make increased retirement contributions to the company 401(k) when compared to other corporate entities. Under the structure of a California PC, healthcare professionals are able to take advantage of additional tax deductions for a variety of benefits including health insurance, malpractice insurance, disability, life insurance and dependent care.
The Watkins Firm has served the medical professional and the healthcare industry in San Diego for decades. Our attorneys have extensive experience and expertise in the formation of healthcare related businesses and medical practices, such as physician groups, urgent care and surgery centers, hospitals and dental practices. We provide sound general business counsel to healthcare related businesses to ensure compliance with the complex federal, state and local legal and regulatory requirements including OSHA and HIPPA compliance. We are familiar with insurance terminology and billing codes and the unique legal issues associated with employment agreements for physicians, dentists, nurses, and medical technicians.
If you would like to learn more about the advantages of the California Professional Corporation for a healthcare business we invite you to review the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
