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66 Replies Last post: Jun 25, 2009 3:46 AM by harishmanek

Starting an Independent Nurse Contractor Business

Jan 6, 2008 1:28 PM

Click to view nurseloca's profile Start-up nurseloca 6 posts since
Jan 6, 2008
I am an RN with 16 years of nursing experience. I have been doing agency and travel nursing for a couple of years. I am tired of having the middleman take so much of my money, and I want to take him out. I am in the process of writing a business plan. My question is: As an independent contractor do I need to have an EIN? My husband and I are doing this venture together. He has a business background, but information we are getting is difficult to understand. Also, with the LLC being in both of our names, how do we handle a ID number for him, or do we just need one for the LLC as a whole?
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Click to view CorpCons08's profile Mogul CorpCons08 1,128 posts since
Nov 14, 2007
1. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 1:43 PM
in response to: nurseloca
Rather than start an LLC, you may want to consider starting an LLP. LLP's are reserved for professionals and share the same benefits as an LLC. The reason I suggest this is because you and your husband are doing this venture together, which qualifies you as a partnership. You only need an EIN for the LLC/LLP as a whole. You do not need individual tax ID numbers. Hope this information helps.

CC08
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Click to view nurseloca's profile Start-up nurseloca 6 posts since
Jan 6, 2008
2. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 1:55 PM
in response to: CorpCons08
thank you for the information. I had not heard of the LLP. None of the literature that I found had listed that as an option. Are the legalities of this similar to the LLC? Also, what do I need to do first, apply for the LLP/LLC or file for a ficticious name, or is that an all in one deal, when forming the LLP/LLC? And, do I form the LLP/LLC first, then get the EIN for the business?
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Click to view Lighthouse24's profile Mogul Lighthouse24 2,396 posts since
Oct 10, 2007
3. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 2:10 PM
in response to: nurseloca

It's not surprising that you hadn't heard of an LLP. LLP's were invented when oil prices collapsed in Texas in the 80's. Until about ten or twelve years ago, only a few states recognized it as a business type, so most older business references and materials don't mention it. Even now, it doesn't exist in every state, and many states require that LLP's be professional practices in particular fields. Specific instructions on how to register and "create" your new enterprise (regardless of type) depends on the state you are filing in.
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Click to view CorpCons08's profile Mogul CorpCons08 1,128 posts since
Nov 14, 2007
4. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 2:20 PM
in response to: nurseloca
nurse,

What state are you located in?
The legalities of an LLP are almost identical to that of an LLC.
You would first apply for the LLP/LLC, then file for a ficticious name.
You can get an EIN for the business at any point in the registration process, but I would recommend forming the company first.

CC08
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Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
5. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 2:22 PM
in response to: nurseloca
nurse, Good answers from CC08 and Lighthouse.
How soon do you plan on starting this business?? Do you have a Business Name??
Part of the process of writing a business plan is the Name, Marketing and Cash Flow.
Once the business starts, you should stop thing of yourself as an independent contractor and start owner
or officer of the Corporation. (whichever you choose)
You should also have an Accountant, A Lawyer and an Insurance Agent.
I am a Quickbooks Consultant. Good luck, LUCKIEST
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Click to view luckyseven.07's profile Start-up luckyseven.07 3 posts since
Jan 2, 2008
6. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 4:02 PM
in response to: CorpCons08

Dear CC08,

I have been looking into this site http://www.healthcareeragents.com/owners/ where you/I could start our own healthcare recruiting business. It is a one time charge for $49,900.00 complete with software, training for you and 10 other health care agents, the website, and the owners can share candidates and employers through a secure "Global Database." Even if you don't have a position readily available for one of your candidates, another Owner/Operator might, allowing you to potentially make an easy placement without much effort. Commission is also shared for the placement, the Owner/Operator still keeps half of the recruiting fee which can be $15,000 to $30,000 per placement, or a significant portion of the profit on a medical staffing transaction. 10 years ago this opportunity was $24,900.00, recently I looked on their site and it was $49,900.00 for the same opportunity. I just need to find a way to financially fund it, and I would like to hear some input from other people to see if they have heard about this company and it's reputation.
Thanks,

lucyseven.07

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Click to view CorpCons08's profile Mogul CorpCons08 1,128 posts since
Nov 14, 2007
7. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 4:10 PM
in response to: luckyseven.07
07,

I was reviewing this company you mentioned at http://www.scam.com/showthread.php?t=19975.
It seems that most people are finding it to be a reputable company and not a scam. It is also a member of the Better Business Bureau.

As far as funding for it, lets talk some more about this venture and see what we can do.
Drop me an email at d.skolnick@skolnick-associates.com and we can arrange a telephone call.

CC08
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Click to view nurseloca's profile Start-up nurseloca 6 posts since
Jan 6, 2008
8. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 9:58 PM
in response to: CorpCons08
I am starting the business in Florida. Thank you for the information. I have been on the Florida website, and it does appear that the LLP is for Lawyers, etc. However, still doing my research. I am hoping to get things going within the next couple of months. The Travel assignment that I am on now is complete March 4th, so i would like to have things ready to go by then, but it is difficult to manage full time employment(working the night shift), family time and working on starting this venture. I am devoting 1-2 hours a day that I am working on this and most of my time on my days off. Thank you again for your help and information
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Click to view nurseloca's profile Start-up nurseloca 6 posts since
Jan 6, 2008
9. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 10:03 PM
in response to: LUCKIEST
Dear luckiest,

I am planning on starting by March. The Business name I have picked out is "Medicomp Nursing Services, LLC." My husband/co-owner is going to be helping and doing a lot of the marketing. He has started a business before on his own, but he lived in Texas at the time. We have an accountant in mind, and a lawyer. What type of insurance agent should I look for?? Or, is my agent for my home, cars and life insurance able to help?? My insurance agent is through State Farm. Thank you for the help. give me your e-mail address, because I may need some info on business and accounting software.
Thanks,
Nurseloca
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Click to view CorpCons08's profile Mogul CorpCons08 1,128 posts since
Nov 14, 2007
10. Re: Starting an Independent Nurse Contractor Business Jan 6, 2008 11:05 PM
in response to: nurseloca
Thank you for your follow up.
I look forward to speaking to you further about your venture.

CC08
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Click to view icebergtec's profile Authority icebergtec 10 posts since
Sep 15, 2008
11. Re: Starting an Independent Nurse Contractor Business Sep 26, 2008 12:51 AM
in response to: luckyseven.07

Luckyseven,

That is my lucky number as well. My birth date is 7/7/7*

anyhow, I have heard of healthcareeragent. I contacted them last year. they sent me a package of their service. I did not have 50k to drop on it then. Plus, I wanted to explore starting my own business from scratch. I have experience in finding leads, marketing and negotiating with business.


Keep me posted if you pursue this. I would like to know how it goes.


Best of luck .

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