By: Ralph Levy, Jr. Physicians Should Carefully Review Documents to Verify Information Accurately Reflects the Desired Structure of the Sale. Over the past few years, hospitals, health systems, and practice management companies have increased their efforts to acquire physician practices. Moreover, physician groups are increasingly interested in selling their practices to these interested purchasers. The …
Caution As To Compensation Paid By Professional Corporations
Two recent Tax Court cases raise caution flags as to the deductibility of shareholder compensation by medical, dental and other professional practice groups organized as professional corporations (PCs) or professional associations (PAs) that are taxed as “C” corporations for federal tax purposes. In each case, on audit, the IRS sought to disallow deductions for a …
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