Author Topic: Business Incorporation Start-up Inquiries  (Read 155 times)

abradl15

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Business Incorporation Start-up Inquiries
« on: June 21, 2022, 01:36:20 AM »
Hi All ;D

I am a newbie and please excuse me if my questions have been previously posted/discussed. Any feedback will be greatly appreciated even if its referring me to another post to read. I have intentions on opening a medical billing company as an LLC or S Corp. In doing so I want to know whats the best most feasible way to begin business incorporation. For example, is it mandatory to hire an accountant /CPA and an attorney right away? Ive been emailing several to gain information/pricing to aid in choosing accounting software, federal income tax filings, establishing IDOR/IDES, payroll processing and taxes(so far only myself). I do have a registered agent as well as Ive received a quote from Hiscox for business insurance. Again I havent established as of yet so I have to choose a company name , register for an EIN, obtain any necessary permits and licenses, open a business account etc. I am trying to gain info to start the business asap im just in the hesitant stage because I want to be sure Im going in the right direction.

Thanks in advance any advice and or guidance is appreciated!
Abradl15

kristin

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Re: Business Incorporation Start-up Inquiries
« Reply #1 on: June 22, 2022, 12:04:48 AM »
Disclaimer: I do not own a billing company, but I have worked for several in the past, and currently have worked for one for the last 8 years.

Most of them are/were LLC's. The one I currently work is an LLC, and has both an attorney and an accountant. While I don't know of any "rule" or "regulation" that says you NEED an attorney or an accountant, I think having both is smart/good practice. You just never know what may happen that will require one or the other, or both.

The only other thing I can suggest is that you absolutely SHOULD have E&O insurance. I don't know if that is what you mean by saying you have received a quote from Hiscox, or not.

 

Medical Billing Forum

Re: Business Incorporation Start-up Inquiries
« Reply #1 on: June 22, 2022, 12:04:48 AM »