Mainer

Congrats on your retirement. I'll be following you out the door at the end of this year (and 42 years in the CPA racket.) I'm basically just a lurker here but I try to read the board every day. It's an invaluable resource and I 100% echo your message of deep appreciation.

Would the doctor here be a legitimate independent contractor, as opposed to a Hospital employee? It's a facts-and-circumstances determination, but the IRS has frequently challenged the independent contractor status of hospital-based physicians. There are a couple of unfavorable facts here, including the fact that the Hospital handles all of the back office functions. Without independent contractor status, his ability to have his own rich retirement plan disappears.

Assuming that there is no ERISA preemption, which seems likely, the answer will vary from state to state. In some states, such as Maine, this might be exempt as a "casual sale."