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What To Do If You Started An LLC But Realized You Need A Professional Corporation?

It usually is good to start your game as an LLC (Limited Liability Company). In fact, due to the tax flexibility it offers and how easy the startup process is, many businesses start as LLCs.

But, later down the line, many things can go wrong. And that is where you will feel the need to change the business type.

You might wonder what to do if you started an LLC but realized you need a professional corporation.

You see, many states, such as California, require certain professionals to operate as a professional corp. But, the good news is that you can easily change your business to a professional corp.

Want to know how to convert from LLC to Professional Corp? You will need to read through to find out!

Got questions? Email me at sam@mollaeilaw.com or Book a FREE Call

How to Change from LLC to Professional Corporation?

Many companies are not familiar with the business type conversion process. And it might seem like the process is pretty complicated. But it’s not that hard.

At What Point Should I Transition From A Sole Proprietorship To An LLC

It is pretty natural for people to start their businesses as sole proprietors. Most often, the reason behind starting a business with such a model is that they do not want to plan the business properly. Instead, they just want to start selling services or products right away.

Likewise, some just do not want to go through the effort or put in the cost of incorporating unless they know that the business is viable or not. But you know that you need to incorporate it at one point, right?

Wondering at what point should I transition from a sole proprietorship to an LLC? This discussion has the answer!

When Should You Convert from Sole Proprietorship to LLC?

Generally, people will make the switch from a sole proprietorship to an LLC if they find the requirement of one or more factors of the following:

Limited Liability

When you are rolling with sole proprietorship, you are your business. In other words, all legal issues and debts are your concerns. However, your business becomes a separate entity when you shift to an LLC.

What Are My Options If I Already Have An LLC But Realize I Need A Professional Corporation?

So, you have started an LLC and had a lot of hopes regarding the business. But at one point, you got to know the truth.

You learned that you made a mistake by forming an LLC. And instead, you should have started a Professional Corporation.

 

Now, you might be thinking, what are my options if I already have an LLC but realize I need a Professional Corporation, right?

If you have realized that you need to form a Prof Corp, your options are either C Corp or S Corp. But what are they? And how is a Professional Corp different from LLC? Read to find out!

For help, email me at sam@mollaeilaw.com and I will be happy to assist you.

What Are Professional Corporations?

Before anything else, you need to know that shareholders create corporations. And at its core, a corporation is a separate legal entity.

It is a business type where the owners will not be personally liable for the lawful debts and disputes of the company.

However, there are several types of corporations.

As A Nurse, What Type Of Business Should I Create?

It is not that easy to start your own business as a professional. Some states, such as California, restricts some professional from choosing particular business types.

For example, if you are a nurse, you can not legally start an LLC. In fact, you can not even register for a traditional general corporation.

 

Now, you might be wondering, as a nurse, what type of business should I create? Well, you need to register for the Professional Corporation structure. However, you can not just form a regular Professional Corp as a nurse practitioner.

Instead, you would need to create a Professional S Corp. Want to learn more about the nursing professional corporation? You need to give our discussion a read!

Call me anytime about your legal concerns. Just email sam@mollaeilaw.com.

What Does The Nursing Professional Corporation Mean?

Let us first discuss S Corp. As you might have guessed, it is similar to Professional C Corporation. But one of the key differences is that Professional S Corp can only have 100 shareholders.

Another structure that S Corporation is similar to the partnership structure.

If I’m a Licensed Professional, Will a Professional S Corporation Work for Me?

Are you a licensed professional? Licensed professionals include people who are involved in professional practices, such as attorneys, doctors, architects, accountants, and nurse practitioners. Therefore, forming a professional S Corporation as a licensed professional may or may not work for you. It just depends on your set-up and how you want to scale your business.

Learning More about Forming a Professional S Corporation as a Licensed Professional

To learn more about your options for forming a professional S corporation as a licensed professional, you need to speak to an experienced business attorney. You can contact me or my legal team at any time by visiting https://molaeilaw.com for further details.

The term, “licensed professional,” has different meanings, depending on the state where it is used. In most jurisdictions, a licensed professional is someone who is licensed or authorized legally to practice law, medicine, osteopathic medicine, podiatry, dentistry, dental hygiene, chiropractic medicine, accounting, or architecture.

Some states make the definition more simple by defining a licensed professional as someone who holds a professional license in good standing. To see if a professional S-corporation is a good choice for a professional practice,

Best Business Type As A licensed Professional In California

Like most states, California is full of professionals such as optometrists, doctors, attorneys, psychologists, architects, psychiatrists, and others. However, in California, professionals have only three options when it comes to choosing a proper structure for the business.

You can choose one from partnerships, proprietorship, and professional corporations. So, which is the best business type as a licensed professional in California?

Well, the answer is not that simple. Each of the options has its pros and cons. But after you go through this guide, things can get easier as we will talk about everything you need to know regarding each type.

Different Types of Business Available for Professionals in California

As we mentioned earlier, you only have three different business-type options as a professional. And to get a concrete idea of which one should be your go-to option,
you need to have an in-depth picture of each. So, let us get into that without further ado, shall we?

For further help, you can contact me today at sam@mollaeilaw.com to start your business today.

Professional Corporations

Shareholders create corporations.

What to look for when choosing a legal zoom provider ?

As a business owner in Los Angeles, you have likely heard of legal zoom – a service that provides legal documents and services at a fraction of the cost of hiring a lawyer. But with so many providers, how do you know which one is right for you? This blog post will outline what to look for when selecting a legal zoom provider, so you can make an informed decision that best suits your needs.

What is legal zoom, and what are its key features 

Legal Zoom is a company that offers online legal services. Some of the key features provided by Legal Zoom include document preparation, Will preparation, and trademark registration.

 

Legal Zoom has been in business since 2001 and has helped millions of people with their legal needs. In addition to the United States, Legal Zoom also operates in Canada, the United Kingdom, and Australia.

 

One of the things that makes Legal Zoom stand out from other legal service providers is its user-friendly website. The website is easy to navigate and allows users to get started quickly without reading through a lot of paperwork.

If I started An LLC As A Nurse, Am I Operating Illegally?

If you’re considering starting an LLC as a nurse, you might wonder if you’re operating illegally.

Though the practice might seem harmless to many, in the eyes of the law, that would be seen as an illegal action.

Because nurses are not allowed to form LLCs in California. But why? And if not LLC, what type of business can nurses develop in California?

If you’re a registered nurse looking to start your Professional Corporation, email me at sam@mollaeilaw.com or talk to me directly at +1 818-925-0002

If you want to know all about these questions, you must have an in-depth idea of the topic. And the good news is you can learn everything about the topic from this article. So, keep reading!

 

 

What Exactly Is LLC?

Before we talk about whether a nurse can legally operate by starting an LLC, we want to ensure you have a proper idea regarding LLC. So, LLC stands for Limited Liability Company.

Although the naming has “limited” in it, it is one of the most flexible types of business.

5 Common Legal Zoom Reviews

When it comes to legal services, Legal Zoom is one of the most popular options available. However, with so many people using this service, knowing if it’s the right choice for you can be challenging. This blog post will look at five common Legal Zoom reviews and help you decide if this is the right legal service for you.

Overview of Legal Zoom

Legal Zoom is a website that offers legal services to individuals and businesses. The company has been in business since 2001 and has helped over 1 million people with their legal needs. A legal Zoom is an affordable option for those who need legal help, and the company offers various services, including wills, trusts, LLCs, and more.

 

Reviews of Legal Zoom are generally positive, with customers stating that the company provides good value for the money. Some reviewers complain about the quality of the customer service they received, but most say they were satisfied with the help they received from Legal Zoom. Overall, Legal Zoom seems to be a reliable and affordable option for those who need legal assistance.

Forming LLC as a mistake As a licensed professional – what do I do now?

An LLC is a type of business entity that can be formed by filing articles of organization with the state. It does not matter if you are a solo entrepreneur or if you have employees.

The main purpose of an LLC is to provide limited liability protection for the owners.

As a licensed professional, if you are confused about how to form an LLC, it is best to consult with a lawyer before you file articles of organization.

That way, there will be no chance for mistakes in the process and your company will be formed correctly and legally. An LLC can create a nightmare if it is not formed correctly.

For example, one recent case involved a woman who was trying to start her own business as an interior designer but she did not know how to form an LLC properly so she filed articles of organization for her husband’s construction company.

It’s not easy to avoid mistakes when it comes to forming an LLC. This is why it’s important to have a lawyer who can help you understand the process and make sure you don’t miss any steps along the way.

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