If my wife and I are starting an acupuncture practice, what should be do regarding the set-up?
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If my wife and I are starting an acupuncture practice, what should be do regarding the set-up?
What we are looking is for is a way for us, as a married couple. to organize our business as sole proprietors, both work under the same DBA, and have an EIN number that we can use when dealing with insurance companies. Can we each be a sole proprietor operating under the Same DBA? Can we each have our own EIN Numbers for dealing with insurance, and still operate under the same DBA? If we establish ourselves as a sole proprietor entity using only SS#s, can we then apply for an EIN Number that will cover both of us?
Asked on October 2, 2014 under Business Law, California
Answers:
Anne Brady / Law Office of Anne Brady
Answered 9 years ago | Contributor
You really should form a limited liability company with each of you as members. This would protect your personal assets from exposure if anyone ever sues your business. If you do not know how to do this in your state, seek out a consultation with an attorney who does business formation. Spending a few hundred dollars now to do this right could save you tens of thousands in the future.
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