what does pc mean with attorney

What is the difference between a LLC and a PC?

PC. 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."

What does PC stand for after an attorney name?

What does PC LLP mean. Growing a Law Firm. Lawyers just like professionals in other fields use a lawyer title after their name to indicate to the world that they are lawyers or are trained in law. Unlike a regular corporation a PC for lawyers requires that each director shareholder and officer be licensed to practice law. Further the legal PC ...

What does PC mean in legal terms?

Apr 17, 2004 · The P.C. stands for "professional corporation". A professional corporation is a special type of Maryland corporation that provides lawyers and other professionals such as doctors and accountants...

What does PC mean after a law firm name?

Law PC abbreviation meaning defined here. What does PC stand for in Law? Get the top PC abbreviation related to Law.

What does PC stand for in business?

"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.

How are PCs taxed?

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.

Who is Barbara Bean Mellinger?

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.

Does PC cover all liability?

Designed specifically to give some protection from liability to professionals such as doctors, lawyers, architects and others, "PC" does not excuse all liability — it still holds professionals accountable for their own actions.

What is a PC?

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 ...

Is a partnership a partnership?

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.

What is a PC company?

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.

What are the advantages of LLC?

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.

Is an LLP a partnership?

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.

Does an LLC pay taxes?

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.

Is it easier to start an LLC?

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.