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Need help from Clinic Owners!!

 
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Need help from Clinic Owners!! - April 5, 2010 6:30:42 PM   
samb9393

 

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I own an outpatient PT clinic in Arizona which I opened two years ago. I am bringing on a second PT and need to offer him a partnership and ownership opportunity down the road. Would any of you be willing to share how you've done this in your practice, or your ideas on how to do this? Any assistance would be greatly appreciated!! Thanks.
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RE: Need help from Clinic Owners!! - April 7, 2010 8:25:17 AM   
SJBird55

 

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Joined: May 11, 2004
From: Michigan
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I haven't done it yet, but I have similar plans IF I find the right physical therapist.
I already had this discussion at a different location, if you are a member (free) you can read it there: http://tinyurl.com/yftd5pv

(in reply to samb9393)
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RE: Need help from Clinic Owners!! - April 7, 2010 6:38:10 PM   
mhberk

 

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Why do you need to offer a partnership to them?

(in reply to SJBird55)
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RE: Need help from Clinic Owners!! - April 9, 2010 4:48:19 PM   
rwillcott

 

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Joined: March 21, 2006
From: Canada
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Why not hire them as an employee? Or even better hire them self-employed.

(in reply to mhberk)
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RE: Need help from Clinic Owners!! - June 11, 2010 5:28:50 PM   
hmgross

 

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Joined: March 1, 2003
From: Minnesota
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There are things to consider whether you are hiring an employee or an independent contractor. I have an employee because it works best for my practice. She can help cover early hours and see some of my patients when I am on vacation. You have to make sure the contractor is truly independent of your practice or the IRS will take issue.

_____________________________

Holly Gross PT

(in reply to rwillcott)
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RE: Need help from Clinic Owners!! - June 15, 2010 1:34:50 PM   
SSPTnFL

 

Posts: 34
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Mulitple ways to do this from very simple to legally complicated. Much depends on your ultimate goal for this PT and your practice both short and long term. Happy to discuss with you in detail. ssilvey@nueterra.com

(in reply to hmgross)
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RE: Need help from Clinic Owners!! - June 15, 2010 5:45:16 PM   
ianwvu

 

Posts: 121
Joined: June 12, 2004
From: Glendale, AZ
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This is a good point. They really cant be considered an "independent contractor" if a overwhelming percentage of their income comes from your clinic. This is a good way to get dinged from the IRS, Ive already had this conversation with my CPA.


quote:

ORIGINAL: hmgross

There are things to consider whether you are hiring an employee or an independent contractor. I have an employee because it works best for my practice. She can help cover early hours and see some of my patients when I am on vacation. You have to make sure the contractor is truly independent of your practice or the IRS will take issue.

(in reply to hmgross)
Post #: 7
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