Business 101
A legal document that grants a business the right to operate within a city and/or county jurisdiction.
What is Business License
The competence skill, good judgement, polite behavior that is expected from a person who is trained to do a job well.
What Professionalism
Working under the umbrella of another establishment, where they collect monies and take a portion of the revenue is called?
What is Independent contractor
1099
This protects you from a professional accident
What is liability insurance.
Who pays S.S. taxes for an employee
What is employee and employer
6.5%
Mandatory requirement for practice in most states.
What is Licensing
Consumers can file complaints against a therapist through the state board
What Consumer Complaint
Someone who has assets should create this legal entity.
What is Corporation
What are two things a practitioner need to have in order to invoice insurance companies?
What is Diagnoses code and ICD codes.
How much should an self-employed individual put back for taxes?
What is 30%
A tangible or visible representation of values and behaviors in alignment with the agreed standards of the profession.
What is Professional Image
Legal action permanently or temporarily taking away a persons credential to practice.
What Revocations/ suspension of credentials
What is monies received called?
What is monies spent called?
What is revenue and What is expenses.
A policy that protects a practitioner from someone slipping and falling on their property?
What is Liability insurance that covers buildings and grounds.
Who must file a schedule C?
Who must file a schedule K?
What is self-employed
What is partnership
A statement that describes what a business aims to accomplish, the people it helps, the problem it solves, etc.
What is Business Mission
The belief in the moral benefit and importance of work, its inherent ability to strengthen character and willingness to do ones best.
What is work ethic
when someone rents a room for their practice.
What is tenant = self employed
Specific disease based on symptoms- preformed by medical practitioner out of our scope.
What is Diagnose
When a state board lists disciplinary actions against a massage therapist on their website.
What is public protection?
A detailed, written plan for creating and operations a specific business including a description of the business, marketing strategies, finances and operational processes.
What is a business plan
The quality of being complete, whole, authentic, honest and fair during communication or interactions with others.
What Integrity
The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance).
What is self-employed taxes?
A policy that covers your corporation, property and all employees.
What is umbrella policy?
A document that lists business assets, liabilities and equity.
What is balance sheet