Is the choice to form a professional corporation a possibility for a certified hypnotherapist?
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Is the choice to form a professional corporation a possibility for a certified hypnotherapist?
I am starting a business as a sole proprietor, as I practice hypnotherapy and hold workshops and retreats for a start. I do have plans for expansion. And when my profits become sizable, I would like to consider restructuring my business for tax benefit purposes. I understand that many professionals are limited to only professional corporation or professional LLC. Does that limitation apply to certified hypnotherapists? Or are they allowed to form an LLC or S corporation?
Asked on December 3, 2010 under Business Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Professionals are not limited to professional corporations. Forming a professional corporation is limited to those that possess professional licenses, like architects, doctors, lawyers, etc. Does a hypnotherapist possess a license in the state of California? Then you can form a PC. But that may not be the best entity for you tax wise. It is best for you to speak with an accountant in your area who can look at your needs and what you expect to accomplish in your career and what your assets are and advise you the best way to go. It is too difficult in this type of forum to tell you what is best for you. Good luck.
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