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I am a solo physician starting my PLLC with my wife who is

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a member of the PLLC...
I am a solo physician starting my PLLC with my wife who is a member of the PLLC ,she will be responsible of the billing and collections.at this time I do not have any money in the PLLC bank account .due to the insurance delayed payment of my claims.can I get a loan from the bank to pay myself and my wife and pay the payroll taxes?and then pay the bank when money start rolling in the PLLC account?
Submitted: 6 years ago.Category: Tax
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5/1/2011
Tax Professional: Richard, Tax Attorney replied 6 years ago
Richard
Richard, Tax Attorney
Category: Tax
Satisfied Customers: 56,025
Experience: 29 years of experience as a tax, real estate, and business attorney.
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Good afternoon. Yes, this is a very typical arrangement for a start-up company...to obtain a loan to help you with cash flow issues caused by the delay between the billing over services and the collection of the revenues paying for the services. There is absolutely no issue with this and banks are very accustomed to such arrangements.

 

 

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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

 

Richard
Richard, Tax Attorney
Category: Tax
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