Business Entities 101 for Therapists: S Corp, LLC, Sole Proprietor…Which One Should You Choose?

Starting a private practice means becoming a business owner. With that leap comes a whole host of tricky questions: “Do I need an LLC? Am I being compliant? Wait, why are my taxes now higher??”

Every state has its own formation rules, and the mix of decisions, tax, and legal jargon can quickly make you want to crawl into bed with a weighted blanket. This session from my friends at Heard will break it all down. We'll answer the questions you're sitting with: Sole prop or LLC? Do you need a PLLC? When does an S Corp election save you money, and when does it just create more paperwork?

We'll talk through each step, including how to handle the self-employment tax that comes with running your own practice.

Walk away knowing:

• The difference between a sole prop, an LLC, and a PLLC
• The perks of forming an entity versus staying a sole prop
• The income threshold where an S Corp can start saving you money

Tax and business strategies for keeping more of the income you work hard to earn