PSYC 391 Lecture Notes - Lecture 12: Informed Consent, Computer Data Storage, Group Psychotherapy
4 Apr 2017
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Document Summary
Better to plan legal, business strategies before serving clients. Group or individual practice: group: may be able to buy in, become business partner. Business + mental health law, experience w/ psychologists/mental health pros. Sole proprietorship, partnership, corporation: attorney tells pros/cons. Sole proprietorship: business entity is owner: owner gets all income and debt, independence, individual tax return, least complicated, but personally liable. Incorporation: professional corp (pc) or limited liability corp (llc: separate personal/business assets. Protects if legal judgment/debt, can deduct expenses and benefits from tax breaks. May be taxed twice on profits corp pays taxes first, shareholders pay again on profits distributed as dividends. Attorney can help plan, review how to keep records. How to address cancellations, no-shows, client crises not in business hrs, security emergencies. Occurrence-based or claims-based: occurrence-based: cover any claim made by client that you served during coverage, claims-based: only cover claims made while policy in effect. Switch companies: buy tail (from past company) or nose (new company)
