Can salaried MDs incorporate

[BigM]

Can the corporation have non-medical services as well? My understanding is that physicians are not the only ones who can incorporate, entrepreneurs can as well. Would I be able to use the corporation to buy houses and rent them or would I only be able to purchase buildings that are going to be used to provide the medical services?

[japlanet]

Can the corporation have non-medical services as well? My understanding is that physicians are not the only ones who can incorporate, entrepreneurs can as well. Would I be able to use the corporation to buy houses and rent them or would I only be able to purchase buildings that are going to be used to provide the medical services?

 

If you wanted to do other non-medical things you would need a separate corporation. This is because the corporations we are talking about in this thread are specifically 'medical professional corporations' and there are specific rules surrounding them as opposed to the 'corporations' that a small business owner might form.

[rmorelan]

If you wanted to do other non-medical things you would need a separate corporation. This is because the corporations we are talking about in this thread are specifically 'medical professional corporations' and there are specific rules surrounding them as opposed to the 'corporations' that a small business owner might form.

 

I am just learning about some of that - it is complex. The corrporation still holds generally the retirement savings of the doctor so investments in somethings can be made.

[cheech10]

You can definitely reinvest the retained earnings from within the corp, but buying real estate often requires a different structure. If this is your plan, you need to discuss it with a lawyer and accountant prior to setting up the corp.