I am moving back to Texas and will be doing 1099 work as a surgeon and am looking to start a PLLC or LLP. Can someone better explain to me the tax/legal implications of doing either? My current understanding are that professionals cannot start a LLC in TX, has to be a PLLC. With the PLLC, you can elect S-Corp status for tax filing but cannot with a LLP. I am speaking with a lawyer sometime this week, however wanted to learn more before the meeting. Planning on doing the paperwork and filing with Legalzoom or an equivalent.
No matter what you choose, do it yourself. Was very simple and straightforward. I went with a PLLC for my own personal 1099 work.
The real question is whether you should do sole proprietorship vs. all others. The false sense of security that PLLC/LLC etc versus the actual benefit may just be a waste of your time and money. Ask your lawyer which avenue makes the most sense.
