Realizing the dream of owning your own medical or dental practice takes forethought and careful planning.The financial considerations are key to helping you make the decision to step out on your own and start your own practice.What type of medical practice financing do you need to make this dream a reality—a term loan or a line of credit, or both—and can you afford to take this next step?Starting with a review of your finances and cash flow needs is an important first step.
Learn about succession planning strategies business owners. Lack of proper succession planning is a surefire way to lose the family business you’ve worked so hard to create.You can implement a number of business transition strategies to help you maximize your legacy’s ultimate value.As your family and business change, so should your plans for their futures.
There are many ways to structure your company, and an LLC may offer the features and benefits you need.An LLC is a legal entity regulated by law, and must be registered with the Department of State in which it’s established.Instead of owning stock, each member owns an interest in the LLC, much like a partnership.LLCs offer flexibility in the structure of the company’s members, potential tax advantages, and the ability to minimize the personal risk and liability of the company’s owners.
