Apr 17, 2004 · What is the meaning of the abreviation "PC" after a lawyer's name as in John Jones, PC ? Hello. P.C. stands for "Professional Corporation." Many jurisdictions recognize a …
In some states, it isn't uncommon to see the name of a law firm or attorney's office with the letters "PC" after it. PC stands for "professional corporation." Like limited liability companies, corporations and other business structures, professional corporations are legally recognized business entities in some states. Structure
Mar 28, 2014 · The PC after an attorney's name stands for professional corporation. It is a special type of firm used sometimes to show someone has …
Apr 21, 2020 · The initials pc after an attorney's name mean typically refers to the business or corporate name of the attorney or their law firm and is short for Professional Corporation and would be similar to a LLC, but a different corporate structure.
The initials pc after an attorney's name mean typically refers to the business or corporate name of the attorney or their law firm and is short for Professional Corporation and would be similar to a LLC, but a different corporate structure.
The initials pc after an attorney's name mean typically refers to the business or corporate name of the attorney or their law firm and is short for Professional Corporation and would be similar to a LLC, but a different corporate structure.
"PC" after a company's name stands for "professional corporation," a type of corporation used by professionals such as lawyers, accountants and doctors because of the limited liability and tax advantages it provides.
A professional corporation, abbreviated as "PC" after a company’s name, is a type of corporation often seen in professions where highly educated people provide services to those who need their expertise, such as accountants, lawyers, doctors, architects, consultants and other professionals. They are often entrepreneurs who have joined in business ...
PCs are taxed in a way that comes with both advantages and disadvantages. For example, PC employees have higher contribution limits on retirement plans. PCs can provide health and life insurance benefits tax free and can receive deductions for additional benefits like disability insurance.
Barbara Bean-Mellinger is a freelance writer who lives in the Washington, D.C. area. She has written on business topics for afkinsider.com, smallbusiness.chron.com, Harbor Style Magazine, the Charlotte Sun and more, as well as advertising copy and materials.
In a partnership, all partners are liable for the actions of the other partners. This is why professionals often find a professional corporation more advantageous since they are held liable only for their own actions. A limited liability company is like a partnership but with more limited liability.
Many people see "PC" after a group of lawyers’ names, and therefore they assume a PC company is a legal term or is related to lawyers.
It is a legal term in the sense that a professional corporation is a legal entity that provides professionals with certain tax and legal advantages. However, professional corporations are not only for lawyers; PCs benefit many types of professionals by giving them legal protections and tax advantages. 00:00. 00:02 09:16.
That means that members' personal assets are legally distinct from the LLC's assets. So, in the event someone sues the LLC, member assets are shielded from the proceeds of the lawsuit.
Another advantage is that an LLC has minimal paperwork requirements, which makes launching an LLC rather easy. An LLC can have multiple members or as few as one member. As such, it is advantageous for someone with a small home-based business to incorporate as an LLC.
An LLC also provides members with pass-through taxation, which means that the LLC does not pay taxes on profits earned. Instead, profits "pass through" to the members, who pay personal income taxes on profits distributed by the LLC.
As the name suggests, an LLP is a partnership, which means, in contrast to an LLC, that there is no flexibility for creating centralized management.
If you want to practice law, you'll need to be licensed. Getting licensed earns you the lawyer abbreviation of Esq., which stands for Esquire . There are a variety of other career options available to those who earn a J.D.
Each designates a degree the attorney earned. The following are the most common lawyer initials: J.D. J.D. stands for "juris doctor” and is the degree received when an attorney graduates from law school.
It's a graduate degree and is required to practice law in the United States. LL.M. The Master of Laws (LL.M.) degree is available to people who already have a J.D. It provides advanced legal study and certification in a specific area of law, such as international law, human rights law or intellectual property law.
A Doctor of the Science of Law (J.S.D. or S.J.D.) is the equivalent of a Ph.D. in law. Attorneys who get these lawyer initials generally become scholars or teachers of law and social sciences. This is a very specialized degree that's selectively awarded. LL.B.