Avoiding Common Financial Pitfalls in Private Therapy Practice
In this episode of 'Therapy for Your Money', host Julie Herres shares insights into common financial mistakes made by private therapy practice owners. As an experienced accountant and owner of Green Oak Accounting, Julie emphasizes the importance of foresight in business planning, preparing for entrepreneurship's financial and operational intricacies, and properly accounting for taxes. The episode highlights the necessity of focusing on profit without guilt, advising on setting the right structures from the start, such as forming a legal entity like an LLC, and recognizing business costs that reduce the perception of a full income from fees. Julie also introduces her new course, 'Money for Therapists Practice Startup', to provide essential financial knowledge for new therapy practice owners.
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