I'm run a single-member Acupuncture business that needs to be licensed and have malpractice insurance. Would spending the money on a PLLC really get me anything? Does a PLLC really help me if I'm the only employee? I still need malpractice, so is there any reason to do a PLLC until I hire employees?
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While a PLLC can't shield you from malpractice, it can shield you (personally) from other kinds of lawsuits and judgments. For example, if a patient comes into your office, trips over a chair, and smashes her head on the floor, that's not an issue of malpractice -- that's an issue of personal injury.
If you're not operating as a limited liability entity, any judgment can be levied against you personally. Similarly, if you order several acupuncture tables and don't pay for them, that's a business debt for which you'll be held personally liable without having a PLLC in place. While the decision is ultimately yours, you may want to speak to your accountant, insurance broker and business attorney to properly identify the risks and costs.
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