Choosing the Business Structure for your Health and Wellness Business

Innovations in health care directed toward improved health outcomes, the utilization of more varied diagnostic and holistic treatment options, and the increasing diversity of patient populations supports healthcare providers and other interested individuals who are seeking unique career alternatives, including starting their own business. Once individuals decide to create their own business, one of the important first steps is to decide how that business will be structured. This decision can impact the longevity and success of the business and has important legal and tax implications.

Purpose/GoalThe outcome of this course is for the learner to describe the six basic types of business structures (sole proprietorship, limited liability company (LLC), cooperative, corporation, partnership, and S Corporation). The characteristics, advantages, disadvantages, and tax considerations for each type are discussed.

Course Objectives – Upon completion you will be able to do the following:

1. List the six basic types of business structures.
2. Describe the characteristics of each type of structure.
3. Explain the advantages and disadvantages of each business structure.
4. Describe tax considerations for the various types of business structures.
5. Explain the important considerations for selecting a business name.

CONTACT HOURS–1.5

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