I'm a recent dental graduate and will begin working at a local dental chain next month. At my last meeting with the owners, I was told that I will be considered an independent contractor, as are all of the other dentists who work for them, and that I will need a business bank account. Although I will need a "business" account, it will not be an actual business. There will be no growth and I won't be hiring any employees, other than myself. All I would need it for is to receive my pay every month and move a percentage of it to my personal account, leaving behind money to pay quarterly taxes. Knowing this, would the recommendation be to have a sole proprietorship with a DBA associated with the business account, or make an LLC/other? If it's just a sole proprietorship with DBA, am I still eligible for business tax deductions and other write-offs, or would I need an incorporated entity? I'm getting an initial consult with a CPA early next week, but I'm trying to learn as much as I can beforehand so I can have a decent conversation with him. I know a lot about dentistry, but they don't teach us much on business! lol Thanks in advance for any suggestions.
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