Being proactive vs. reactive with tax planning will have a tremendous impact on profitability and long-term wealth creation. Keep in mind, I am not a CPA and I am not giving tax advice. Rather, I’m passing on information that I learned as a practice owner and now implement in my financial planning practice. While not an exhaustive list, here are a few items to contemplate in 2025 as you watch the dollars in your practice.
PMA Client Sues PMA For Racketeering
A Maryland chiropractor (who signed his PMA contract in Georgia) has filed suit (in Georgia) against PMA under the Racketeering Influenced and Corrupt Organizations Act (RICO violations). Laurie Webb Daniel, the attorney for the former PMA client, feels that she has "more than sufficient grounds" for the allegation: "This isn't something that we throw around lightly. We feel that the tremendous scale of this case demands a racketeering charge."
Civil Racketeering charges bring with them the possibility of PMA having to pay treble damages. This would be in addition to the $1 million in punitive damages asked for, plus attorneys' fees and court costs.
In addition to the RICO claim, the suit alleges violations of the Georgia Fair Business Practices Act and the Georgia Sale of Business Opportunities Act. Violations of mail fraud and wire fraud were also filed.
For more information, please contact:
Laurie Daniel, Esq.
(404) 381-0433