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#681284 - 02/06/07 09:01 PM NOW Accounts
ComplyOhMy Offline
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Joined: Dec 2005
Posts: 514
Lexington, Kentucky
If a M.D. has an account set up as a business account, can he have a NOW account?

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#681437 - 02/06/07 10:11 PM Re: NOW Accounts ComplyOhMy
MN Banker Offline
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Joined: Aug 2006
Posts: 980
If he is a sole proprietor - yes

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#681523 - 02/06/07 11:43 PM Re: NOW Accounts MN Banker
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
MN Banker is correct. However, I've never seen an MD practice as a Sole Prop. They would want to have their practice in some type of entity for liability protection. That's why they are always a PC, LLC, etc. If they have a business for profit that is not a Sole Prop. they cannot have a NOW account.
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#681578 - 02/07/07 12:59 PM Re: NOW Accounts David Dickinson
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
It was not always so, and there are still a few sole prop physicians out there. But I agree with David that most form an entity for tax and liability management purposes.
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