The Right Tack: Episode 3 – What Type of Business Entity Is Right for Your Practice?
Now streaming wherever you listen to podcasts!
In Episode 3 of The Right Tack, BreezyBilling Co-Founders Paul and Jim Jonas sit down with Devon Liljenquist, a CPA and attorney who has helped hundreds of small business owners—many in the behavioral health world—start, grow, and strategically maintain their practices.
This episode is all about one of the most important early decisions a provider makes when going into private practice:
Choosing the right business entity.
Devon breaks down the pros and cons of the most common business types—sole proprietorships, LLCs, and S-Corps—and helps listeners understand how structure impacts liability protection, taxes, payroll, hiring, and long-term planning.
But the conversation doesn’t stop at definitions. In this episode, you’ll hear:
Why the right business structure depends on your specific goals, income, and growth plans
The biggest mistakes therapists and practice owners make, including DIYing their entity formation or ignoring tax implications
Why forming an LLC might not be enough—and why jumping to an S-Corp too soon can backfire
The role of reasonable compensation in S-Corp compliance (and how to avoid red flags with the IRS)
What it looks like to switch entity types midstream, and when that might be a smart move
Why your business structure affects more than just taxes—from insurance and payroll to succession planning and sale value
How to avoid common pitfalls and stay compliant as your practice evolves
Whether you’re brand new to business ownership or years into your practice, this episode will help you make more informed decisions—and potentially save you a lot of money and hassle down the line.
🎙️ Devon’s dual perspective as both a CPA and attorney brings a rare depth of insight to this topic. He’s worked with providers at every stage of business, and his goal is to help people build practices that are both sustainable and smart from day one.
If you’ve ever asked:
Should I just be an LLC?
Is it time to switch to an S-Corp?
What’s the risk if I don’t formalize my structure?
What’s the most strategic way to grow while staying compliant?
…this episode is for you.
Listen now:
The Right Tack – Episode 3: What Type of Business Entity Is Right for Your Practice?
Available wherever you listen—or stream it directly from our website.
🎧 Subscribe to our Trade Winds newsletter to catch new episodes as they drop.
