Can An RN Work Independently?
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by Sam Mollaei
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Are you officially a registered nurse? There is not a single medical facility that does not have these wonderful people.
We often overlook their dedication and how nursing is one of the toughest jobs in medical aspects. So suppose you have been in this field for sufficient years.
Now you wish to be self-employed. The only blind factor is not knowing what an RN can do when leaving a stable job. Can an RN work independently?
Call me anytime about your legal concerns. Just email sam@mollaeilaw.com.
Is there any restriction to beginning a new journey of a self-employed registered nursing career?
Take Baby Steps
Let us acknowledge the elephant in the room – yes, you can become an independent registered nurse. However, it is not like investing in the shoe business.
We are talking about applying your hard-earned license to provide care for those in need. So breathe deep and pave the way.
1. Set A Goal
A change in a career path is never an easy task. Do you remember the days and the late nights you have burned by studying hard to get here?
You deserve to give your student self a commendable position. Therefore, clearing your goal, setting aside self-doubts, and progressing should be your top priority.
A goal is when you make a decision to do something. However, it is not always clear due to various influences. The plus side is that you can overcome this issue by creating a business plan.
No matter how small the venture is, you can make it to the top if you work toward it while tracking the development.
It also involves understanding when to make a change, when to remain consistent, or whether you plan on expanding. Besides, you should decide how to market your business and what kind of clients you will have.
There should be considerations of employee benefits, a timeline to abide by, and how to uphold yourself as well.
Call me anytime about your legal concerns. Just email sam@mollaeilaw.com.
2. List The Plus Points
Once you clear the goal, your next task would be to think of the advantages.
- You will be more passionate by extending your strength and talents to the clients.
- Personal growth will develop through the experience.
- You will have control over the business.
- Consider the positive aspect to stand you out that your supervisor recognized.
- You can employ other nursing graduates if the business is to be expanded.
Also, pay attention to how you communicate with the patients. It can point you toward the type of career you wish to perfect as a self-employed RN.
3. Begin Gradually
Just because you have finalized your decision, it does not build the business instantly. It will take time for others to recognize your talent.
Hence, begin slowly. Remember that resigning from your current nursing job in a stable medical facility may not be a good idea.
This is because you must maintain an income source to live by. Instead, you can try cutting down on the hours in a shift at your current workplace.
Another way is to obtain a part-time position.
It does not just provide you with paying bills/rent but also gives you an opportunity to ask for feedback from workmates.
Call me anytime about your legal concerns. Just email sam@mollaeilaw.com.
4. Opt for Small Business Resources
Even if you work for many years, the saved-up amount might not be sufficient for starting the business. The resource you need to form your business will require some outside assistance.
It is highly unlikely to obtain such help from reputable sources. They will point out many risk factors.
However, do not let that discourage you if you are adamant about caring for patients personally. Try focusing on local management that helps small businesses financially.
Many local groups offer tax resources or grants, while others look for online platforms that allow payments as an investment.
It is better to take your time first. Start by taking an entrepreneurial course to learn the restrictions and rules of your city/state. You can even reach out to peers of similar backgrounds and communicate.
Call me anytime about your legal concerns. Just email sam@mollaeilaw.com.
5. Be Up-to-Date with Legal Restrictions
Despite being an RN, you may need to acquire a license. Moreover, some healthcare services may require you to obtain certain degrees. For instance, you cannot prescribe medicines without earning a particular degree.
It all depends on the legal regulations of the city/state you live in. You can consult with a lawyer for further guidance.
Be sure to acquire the license or degree before quitting the current job to start the business.
6. Respect And Follow A Planned Schedule
Do not forget that you also have a personal life. Try not to burn yourself out by overworking.
It may be chaotic at first, trying to tackle a job, learning about self-employing RN, and actually working on launching the business.
Nevertheless, find a balance in between. Prioritize yourself with some benefits. For example, cut back a few hours of your current job, and set a time for planning/envisioning your independent career.
Schedule a few hours for taking extra courses if you plan to take any for the business. Always leave a day or several hours a week for yourself.
Follow a suitable timetable closely to avoid exhausting yourself.
Call me anytime about your legal concerns. Just email sam@mollaeilaw.com.
Ideas for Independent Registered Nurse (RN)
Did you know an RN profession offers variable opportunities apart from only a nurse contractor? Below is a brief list of such career paths:
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Concierge Nursing
It is an in-home nurse who cares for those recovering from surgeries or independent older patients. It may be a long-term service where the nurse and the patient may develop a bond.
Concierge nurses also specialize in doula services and hospice care.
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Nursing Consultant
If you have years of experience as an RN, you can consult people in areas you are skilled. For instance, consultations about lactation, fertility, stress relief, or educating lawyers to evaluate a crime/case for plausibility.
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Health Counselor
Also known as a nurse coach, who cares for a patient recovering from injuries, self-harms, and chronic illness.
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Fitness Advisor
It is when an RN provides nutritional/exercise guidance or helps a person to meet the health goal with suggested changes in life.
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Health Course Teacher
A freelance health course educator may be contracted in a firm, school, or other facilities.
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Nurse Contractor
A nurse contractor is a right path if you wish to remain an RN. You can have a contract with a school, hospital, or other facilities that may need a nurse.
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Provide Products for Nurses
All nurses require certain apparels or tools that a specific company may provide. You can enter this business after attaining enough experience. You can also be a consultant for a company in the same field.
Call me anytime about your legal concerns. Just email sam@mollaeilaw.com.
Conclusion
Once you choose the career path with an unwavering mind, you can utilize the RN profession to your advantage. It will aid many patients deprived of personal care.
So can an RN work independently? Sure, as long as you obtain the necessary licenses and degrees to specialize in the field.
You are free, like a thousand-year-old tree – calm and always spreading branches as helping hands. We wish you the best!
Mollaei Law: Why Do You Need an ITIN?
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An ITIN, or Individual Taxpayer Identification Number, is a nine-digit number issued by the IRS to individuals who are required to have a tax identification number but do not have and are not eligible to obtain a Social Security Number (SSN). If you need an ITIN, you can apply online. Here’s what you need to know:
You need an ITIN if you’re not eligible to obtain a Social Security Number (SSN) and you meet any of the following criteria:
You’re required to file a U.S. federal tax return.
Filing your U.S. federal tax return every year is a requirement for all citizens and legal residents of the United States, regardless of whether or not you owe taxes. Suppose you are required to file a tax return but do not have a Social Security number (SSN). In that case, you can still do so by using an Individual Taxpayer Identification Number (ITIN). An ITIN is a nine-digit number issued by the IRS to foreign nationals and others who are required to file a U.S. tax return but don’t have an SSN.
Applying for an ITIN is relatively simple and can be done online or by mail. You must complete IRS Form W-7, Application for IRS Individual Taxpayer Identification Number, and provide specific documentation, including proof of foreign nationality or residency status.
Once your application has been processed, and your ITIN has been issued, you can file your U.S. tax return electronically using e-file software or a tax professional.
You’re filing a return with a filing status other than “single” or “married filing separately.”
It’s no secret that the tax code in the United States is complex. There are a variety of reasons for this, but one of the main ones is that lawmakers are constantly trying to find ways to incentivize certain behaviors and penalize others. This can make filing your taxes a daunting task, especially if you’re not familiar with all the intricacies of the code.
One area where taxpayers often need help is with their filing status. Determining your filing status is one of the first steps in preparing your return, and it can be tricky if you’re not sure which category applies to you. There are five filing statuses: single, married filing jointly, married filing separately, head of household, and qualifying widow(er) with dependent child. But there are some exceptional cases, such as when you’re divorced or widowed.
If you don’t fit into any of these categories, you may need to file as “single” even if you aren’t unmarried. This often happens when someone has been married but is now divorced or widowed. In these cases, you still have to file as “married” for the tax year in which your spouse died, or you were divorced, but you can file as “single” for subsequent years.
There are also a few other instances where you might need to file as “single” even though you aren’t unmarried. For example, legally separated from your spouse but not divorced, you generally have to file as “single.” The same is true if you’re in a civil union or domestic partnership that the IRS doesn’t recognize.
You’re claiming certain tax benefits, such as the earned income tax credit or the child tax credit.
If you are a U.S. citizen or resident, you must file a tax return yearly—even if you don’t owe any taxes. And even if you do get a refund, it’s still your responsibility to file. But what if you don’t have the money to pay filing fees? Or what if you don’t have a Social Security number (SSN)? In that case, you can apply for an Individual Taxpayer Identification Number (ITIN).
An ITIN is a nine-digit number issued by the IRS to taxpayers who don’t qualify for an SSN. It allows them to file tax returns and claim certain tax benefits, such as the earned income tax credit or the child tax credit. Without an ITIN, those benefits would be out of reach.
The application process is simple and can be done online or by mail. You just need to provide basic information about yourself and your family members. And remember, it’s essential to renew your ITIN every year. Otherwise, it will expire, and you won’t be able to file taxes anymore.
You’re a nonresident alien married to a U.S. citizen or resident alien, or you’re filing a joint tax return with your spouse.
If you are a nonresident alien married to a U.S. citizen or resident alien or are filing a joint tax return with your spouse, you will need an ITIN. An ITIN is an identification number issued by the IRS that allows you to file a tax return and claim certain tax benefits. Without an ITIN, you may not be able to file your taxes or claim any applicable tax benefits.
The process of obtaining an ITIN is relatively simple. You can apply for one online or by mail. However, you must note that you will need certain documents for an ITIN. These documents include your passport, marriage certificate, and proof of U.S. residency (if applicable). If you do not have all of the required documents, you may still be able to apply for an ITIN, but it may take longer for your application to be processed.
If you already have an ITIN, but it’s about to expire, you can renew it by filing Form W-7. You don’t need to wait until your ITIN expires to renew it – you can do so any time before you file your tax return. Applying for an ITIN is free; getting one doesn’t take long. Once you have an ITIN, you’ll be able to file your taxes and claim the benefits you’re entitled to.
If you have any questions about ITINs or need help applying for one, Mollaei Law can assist you. Mollaei Law is a Los Angeles-based law firm that specializes in tax law. We offer free consultations, so feel free to contact us today. Los Angeles residents can also find helpful information on the Los Angeles County website. The site includes a page on ITINs, which provides an overview of what they are and how to apply for one.
What Is the Difference Between a C Corp, a S Corp, and an LLC?
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If you want the success of your business, you first need to ensure that you choose the right business structure.
The form of business that you choose will determine some important things, such as the income tax return form you have to file.
But what is the difference between a C Corp, a S Corp, and an LLC? Well, it all boils down to the business that you are planning to start and the tax.
Want to get the entire story? Read this discussion till the end because we will break each business type down and let you know what makes them different.
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What Exactly Is an S Corp and How Is It Different?
We need to start with S Corp because it is not technically a business structure. Instead, it is a tax status.
Otherwise called the small business corporation, S Corp mainly offers the advantages of getting similar tax advantages to a corporation but with double taxations.
Now, to receive the S Corp status, you must first register as a C Corp or LLC. After that, you must send the S Corp form to the IRS. That will indicate that you want to tax the business as an S Corp.
In other words, you can not directly register your business as an S Corp. That is not possible, even though online legal services might tell you it is.
Again, why would you want to get an S Corp status when you have started as LLC or C Corp? It all boils down to saving money on taxes!
That means the main difference that lies between LLC, C Corp, and S Corp is the taxation structure. And this structure can let you save money on taxes.
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What Is LLC and What Makes It Stand Out?
As we have mentioned earlier, an S Corp will let you save money on taxation. So, why is LLC relevant?
Well, if you are making as less or much as what you could generally make doing a similar role at another company, you can not save money on the tax.
For example, if you have a 40k USD net profit and 40k USD “reasonable” salary for the position, you could just stay as an LLC instead of opting for the S Corp taxation status.
It would be better to stay as an LLC because you will not need to go through the additional paperwork.
Additionally, you would need to set up a payroll when you have an S Corp status. You must take out self-employment taxes every month and document paying yourself a salary.
Those can be a lot of hassle for many. In short, LLC offers simplicity for many businesses. And that is what makes it stand out.
Now, the same thing is applicable when you compare it with C Corp. As a C Corporation, you would need to file your own tax returns.
On the other hand, LLCs are considered pass-through entities, meaning they do not have to file taxes in their own right. Instead, they have their income reported.
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What Is C Corp and What Makes It Different?
C Corp is a legal entity that is distinct from the owners of the business. The corporation is responsible for all debts and liabilities, not the owners.
This protection is what makes C Corp stand out the most. But that is not all. A C Corp, like an S Corp, can help you save money, although in a different way.
You see, with an LLC and S Corp, all of the profits need to be paid out. On the other hand, with a C Corp, you can keep the profits within the business.
For example, if your business earns 100k USD in net profit, you could pay yourself 75k USD and keep the rest 25 USD within the business. It will be called retained earnings.
The business’s retained earnings will be kept in a separate account, and the best part is that they will be exempted from taxations. And a buildup of retained earnings can substantially increase the company’s net worth.
Other than that, some factors will force you to choose a C Corporation. For example, you must select C Corp if you have more than 100 shareholders.
An S Corp can only have 100 shareholders. Also, if any of the shareholders are foreign, you can not choose S Corp, regardless of whether you have less than 100 shareholders or not.
Furthermore, compared to LLC and S Corp, C Corp is more investor friendly. And as we have mentioned, you can keep the profits within the business without being taxed double.
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Final Words
So, in terms of what is the difference between a C Corp, a S Corp, and an LLC, it mainly depends on the business. If it is small, S Corp makes more sense.
And if your business is not small but you prefer simplicity, LLC is the way to go. Finally, if you want to keep retained earnings without double taxation, C Corp is for you!
What To Do If You Started An LLC But Realized You Need A Professional Corporation?
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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 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. Just you need to know the two significant steps of the conversion. And they are:
- Prepare a plan for the conversion
- File articles of the conversion with the secretary of the state
That’s all. Now, although these two steps might sound simple, you might face a lot of issues in between them. And the level of difficulties for the conversion process will depend on your expertise in the area.
It can be a piece of cake for you, or it can be something that you will need to put too much effort into.
That is why many local authorities will advise you to seek assistance with the documentation method. But if you know what to do, you can effectively get the job done on day one.
Pre-requisite of Changing Your LLC to A Prof Corp
So, there is a pre-requisite for changing a business entity in certain states, such as California. And that is: you need to adopt a new name for the corporation.
However, you should know that this process requires you to follow a set of rules that is specific to the type of professional service you plan to offer.
The rules will also depend on the corporation you intend to establish. So, get to know them before you change the name of your entity.
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Documentations That You Will Need for The Conversion Process
Let’s face it; the conversion process is not something that you can get by with little documentation. You will need to put a lot of time into preparing the documents.
And it also requires legal counsel to make them correctly. But if you are an expert in the field, you should start drafting all the docs prior to the filling process.
Now, you might be wondering what documents you need, right? Well, here is the list of the docs that are generally required for the conversion process:
- Waiver of Notice
- Incumbency Certificate
- Special meeting minutes of the board of directors for approving the conversion
- Corporate Summary
- New Stock Certificates (California)
- New Ledger (California)
- Secretarial Certificate
- Amended and Restate Bylaws (California)
- A new seal
California, for example, requires a statement of approval by the members of the Limited Liability Company. For that reason, holding a shareholder meeting is a must.
Also, IRS will not transfer an EIN (Employer Identification Number) assigned to an LLC to a Professional Corporation. For that, you will need a new EIN.
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Additional Requirements for Changing A LLC to An Prof Corp
Aside from the key elements of the conversion, you would have to get new corporate officers and directors elected and appointed. It is a part of the required formalities for the conversion. You should also note that the bank document leases and other contracts of the business should be intact during the transition.
Furthermore, you would need to go through these additional steps:
- Creating corporate bylaws
- Holding an initial board meeting
- Applying for a new Employer Identification Number (EIN)
- Issuing stock certificates
Once the conversion is complete, you must follow new corporate formalities. That includes holding regular meetings of the shareholders and directors, filing annual reports with the state, and maintaining corporate minutes.
Tax Consequences of Changing A Business from LLC to Prof Corp
Both LLCs and Professional Corporations have advantages and disadvantages when it comes to personal liability protection and taxation.
Professional corps are handled with a C corp, which is taxed on the net profit of the company. The owners will be subject to double taxation if the after-tax net profits are distributed.
On the other hand, for most states, LLCs do not need to pay state taxes. However, a few need to. Also, some states will impose renewal, franchise, or annual registration fees.
Now, to avoid double taxation, Professional Corporations and Limited Liability Companies can file as an S corporation. That would be via an IRS tax election.
Got questions? Email me at sam@mollaeilaw.com or Book a FREE Call
Final Words
Now that you know what to do if you started an LLC but realized you need a professional corporation, you just have to follow the right steps instead of panicking.
But, if you think that all the processes are a little tough for you to handle, you can always consult an expert in the field. That will make the process a breeze.
Steps for an amendment of an LLC
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One of the good parts about operating as an LLC is that you can alter the terms of the company’s operating agreement by filing an LLC amendment. But that is not all that an amendment for an LLC does.
It will be possible for you to update and add to the original content of your articles. And some LLCs need to amend periodically.
You just need to know the right steps! Want to know which steps are we referring to here? Well, you need to read this entire guide to find out!
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How Do I Amend the Articles of an LLC?
So, to amend the articles of the LLC, you need to go through these six steps:
Step 1: Determine Whether an Amendment Is Necessary
Before anything else, you should check whether the amendment is necessary or not.
Usually, when articles of an LLC are approved, they do not need any update. But, when LLCs change their name, the address or name of the registered agent, membership ownership, and financial and management structure needs updating.
On that note, changes to the Operating Agreement do not typically require any reporting to the state. But that is not the case for all of the changes.
Also, the laws vary from one state to another. That is why it is a good idea to seek advice from a legal professional or a business before deciding whether you should amend or not.
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Step 2: Get the Approval for the Update
The Operating Agreement or bylaws of the LLC should dictate the approval processes for the amendments to the articles of the organization. It is vital to review the Operating Agreement and go through all the steps necessary to obtain approval from the LLC managers and members.
Furthermore, knowing the state law governing the Limited Liability Companies is crucial. Some of the laws may require all the LLC members and/or managers to agree to the changes being made to the Articles.
On the other hand, some states may allow the LLC members to establish their own rules and regulations on deciding who needs to approve the Amendment Articles.
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Step 3: Complete Appropriate Government Forms
Next, you should review all the amendment rules for your state. It is a crucial step that will inform you when you should report amendments. If your LLC must report an amendment to the original Articles, you must determine whether the state has a specific form that needs your attention.
Some of the states may refer to the form as Articles of Amendment. This form may also be called a Certificate of Change or Certificate of Amendment.
The amendment announcement requirements that your state has should also be double-checked.
On that note, a few states require LLCs to put out a notice of change to the original Articles of Organization. An LLC that does not follow the notice and reporting requirements can face serious legal troubles in the future.
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Step 4: File Articles of Amendment
Some of the states will require you to file the Articles of Amendment within a particular time frame. For that reason, you should check the state rules that determine the deadline for filing the Certificate of Amendment.
Most states will have some sort of authorized form that they will require LLCs to use. Those will be required when you are amending the Articles. The information on those forms will vary from one state to another. But typically, you need to put these pieces of information:
- LLCs name just like it appears on the original Articles of Organization
- Date of organization
- Exact text of the Articles that needs changing
- The information you are changing, such as the change of business address or the new name for the LLC
- Address and name of the LLC’s registered agent
- The effective time and date of the change; the changes become effective upon the filing with the state agency if a date and time are not notated
- Signature(s) of the person(s) authorized to sign documents on behalf of the LLC. This form might need the signatures of all LLC members if the LLC is member-managed
Step 5: Pay Any Fees That Are from the Amendment of the Articles
At this step, you should review the filing fees that are for the Articles of Amendment. The filing fees will vary from one state to another. And it can also change periodically.
So, before you file any LLC forms with the state, it is a good idea to always check the fee schedule.
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Step 6: Update the Documents of the Company
You might need to make changes to the leases, Operating Agreement of the LLC, marketing materials, baking information, contracts, and other forms and documents that the LLC uses for day-to-day operations.
However, that will depend on the changes to the Articles of Organization.
Changes to the addresses and changes in the name generally require a significant amount of work when it comes to modifying the documents and marketing materials. Otherwise, the changes will not reflect appropriately in the Articles of Amendment.
Final Words
As you can see, the steps for an amendment of an LLC are not as complex as you might have thought.
Yes, you do need to manage a good amount of documents, and if you do need help with those, you can always seek legal help.
At What Point Should I Transition From A Sole Proprietorship To An LLC
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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?
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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.
At that point, the business’s debts will belong to the business. The same thing applies to legal issues.
Yes, that is the basics of limited liability! So, why would you want limited liability?
Imagine a scenario where someone sues your sole proprietorship. In that case, they are not suing your business; they are suing you!
That means you will be paying with your money. What will happen if the damage exceeds the amount that is in your bank accounts?
You will need to liquidate your assets or declare personal bankruptcy.
On the other hand, if someone decides to sue your LLC, they are not suing your personally.
Instead, they are suing the business. But if the damages are awarded, they will go to the assets of your LLC, not you! And if the damages exceed the assets of the LLC, your assets are typically out of the limit.
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Tax Flexibility
When running a sole proprietorship, you have little input on how your business needs to be taxed. You will either fill out a Schedule on the C-EZ or C to calculate the profits and losses of the business. And you will enter the totals of your return.
Generally, members of the LLCs go through the taxation process the same way. They will need to fill out the same forms and pay the same taxes for self-employment.
However, LLCs do not need to keep their default tax status. As an LLC, you can choose to be taxed as a corporation.
Funding Options
It can be pretty hard to raise money to run your business as a sole proprietor. In fact, the most common ways that people fund their businesses is through their own money, equity, or debt.
Although you will be on your own in the first option, LLCs will give you more opportunities when it comes to equity financing and debt financing.
Debt financing is when the business borrows money that the owner needs to pay back. Different forms of debt financing include credit cards, loans, or lines of credit.
You will not qualify for lots of business loans as a sole proprietor. That will leave a personal loan as your only option. The same thing applies to credit.
On the other hand, equity financing is where you give up the ownership interest of the business in exchange for financing. In a sole proprietorship, investors can not buy membership interests or shares of stock.
So, you could say that there is no way to opt for equity financing as a sole proprietorship.
That said, although corporation offerings have the highest possibilities for equity financing, LLC can add members. That gives ownership percentage in exchange for capital contributions.
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Final Words
Still wondering at what point should I transition from a sole proprietorship to an LLC? You need to make the transition whenever you feel the need for limited liability, tax flexibility, and proper funding options.
One of such requirements states that it is time for you to change the business!
