One of the questions I get the most is "should I set up an LLC" when it comes to creating income from Locum Tenens.

In this episode I'll break down some of the pro's and con's of setting up an LLC so you can make the best decision as it relates to your personal situation.

* Please note: I am not a tax strategist, accountant or lawyer so make sure to do your due diligence and recognize this episode is not a specific recommendation for any tax strategy or business entity.

I've used this company for setting up 2 of my LLC's and they have done an exceptional job: https://laughlinusa.com/

I recommend getting with a tax strategist to see how locums and creating an LLC can fit into the bigger picture of your overall situation, they can give you a higher level view and create a 'tax strategy' that takes into account your entire situation.

I like to use Chat GPT (AI App that is free to use or has a paid subscription of $20 per month) to act as a virtual admin or to bounce ideas off. Inside Chat GPT is a 'Custom GPT' called 'US Tax Advisor' that I can ask tax related questions. AI is known to make errors so always double check any crucial data.

For example I can ask Chat GPT about deductions or tax forms needed or common questions about taxes without having to search through a bunch of websites or set up a call with an accountant or tax strategist.

If you are a general, trauma or vascular surgeon you can book a strategy call with me here: https://calendly.com/simon-parsons/physician-strategy-call

If you would like me to refer you to a reputable locums recruiter or like to leave feedback, ask questions or request a topic please email me at: simon.parsons@comphealth.com