Julie Herres - Podcast Details

Shows

Therapy For Your MoneyEpisode 182: Quarterly recap with JacquieTherapist Finances in 2025: What’s Working, What’s Risky, and What to WatchIn this quarterly recap, Julie Herres sits down with Green Oak Accounting’s Jacquie Carter for a candid conversation about the financial realities therapy practice owners are facing in 2025. From insurance shifts to hiring woes, this episode is packed with no-fluff guidance for navigating uncertainty.You’ll hear:Why now isn’t the time to drop insurance panels (even if you want to)What “people pleasing” looks like in payroll—and how it can tank your profitsWhen a new revenue st...2025-05-3033 min

Therapy For Your MoneyEpisode 181: How the ultrarich avoid paying taxesUnderstanding Tax Inequities: Why Billionaires Pay LessIn this episode of 'Therapy for Your Money,' host Julie Herres, an accountant and owner of Green Oak Accounting, delves into the often-asked question of why billionaires seem to pay so little in taxes compared to small business owners. Julie explains the U.S. tax system's design to benefit the ultra-wealthy and explores the 'buy, borrow, die' strategy that allows billionaires to leverage their assets without triggering taxable events. She also discusses estate taxes and how complex legal structures enable the wealthy to pass on fortunes tax-free...2025-05-2316 min

Therapy For Your MoneyEpisode 180: Don’t Freak Out: Smart Money Moves in a Shaky EconomySmart Money Moves for Therapists in a Shaky EconomyFeeling nervous about the economy? You're not alone—and you’re not powerless. In this episode, Julie Herres welcomes financial planner David Frank back to the show for a calming and practical conversation about what therapists can do when things feel financially unstable.You’ll learn why panic doesn’t serve your practice—and what to do instead. Whether you’re watching the market dip, worried about Medicare or Medicaid cuts, or just feeling the pressure of team payroll, this episode is packed with tools and re...2025-05-1626 min

Therapy For Your MoneyEpisode 179: From Contractors to Employees — What Therapists Need to KnowEpisode SummaryThinking about switching your group practice from 1099 contractors to W-2 employees? You’re not alone—and you’re not crazy for feeling overwhelmed by it.In this episode, Julie talks with group practice owner and consultant Amy Dover about her real-life journey making this transition. Amy shares what triggered the change, the surprises along the way, and what she wishes she knew from the start. Labor laws, compensation shifts, team dynamics, and aligning your business model with your values...it's all in this episode!Here’s why this episode...2025-05-0925 min

Therapy For Your MoneyEpisode 178: How to scale your practice...AND FAST!Scale Your Therapy Practice Fast: Clinicians, Clients, Cash & Space In this episode, Julie walks you through the four critical systems you need to grow your therapy practice quickly and sustainably. You’ll learn how to recruit clinicians before you need them, attract a steady stream of clients, plan for cashflow dips, and optimize your office space.By the end, you’ll have a clear roadmap to coordinate all four factors—so your practice can expand without burning out your team or your bank account.Listen for solutions:If you’re...2025-05-0218 min

Therapy For Your MoneyEpisode 177 Beyond Therapy: Positioning Your Practice as a Supervision Hub for GrowthAdding Supervision to Your Therapy Practice for Financial StabilityIn this episode of 'Therapy for Your Money,' host Julie Herres welcomes Brittany Schank to discuss the benefits of incorporating supervision into therapy practices. Brittany, a group practice owner from Fargo, North Dakota, shares her journey of adding supervision to create financial stability amidst the unpredictable nature of insurance payments. They delve into the logistical aspects of providing supervision, including the establishment of fair rates, group versus individual supervision dynamics, and advertising strategies. The discussion also covers key considerations for practice owners, such as liability...2025-04-2520 min

Therapy For Your MoneyEpisode 176: What's the Balance? Frugal Spending vs. Investing in the FutureBudgeting vs. Investing: Smart Financial Decisions for Therapy Practice OwnersIn this episode of 'Therapy for Your Money,' host Julie Herres, owner of GreenOak Accounting, discusses how therapy practice owners can navigate the challenging decision of when to be frugal versus when to invest in growth. Julie offers a step-by-step guide on setting up a startup budget, allocating funds, and revisiting financial milestones. She also explores the pros and cons of taking on debt and the importance of marketing investments in the early stages of a practice. Key action steps include knowing your startup...2025-04-1816 min

Therapy For Your MoneyEpisode 175: Managing Online Course Revenue Alongside Your Private PracticeAdding an online course or coaching offer can feel like a natural next step for private practice owners—but it comes with its own financial considerations. In this episode, Julie Herres walks through how to manage revenue from a course or other non-clinical income stream without creating chaos in your books.You’ll learn how to separate course finances from your practice, when it might be time to set up a separate entity, and how to use Profit First principles to allocate funds for development, marketing, taxes, and your own pay. Whether you’re just getting started or alr...2025-04-1112 min

Therapy For Your MoneyEpisode 174: Mastering Insurance as a Revenue StreamOptimizing Insurance for Therapy Practices with Jeremy ZugIn this episode of Therapy for Your Money, host Julie Herres speaks with Jeremy Zug, co-founder of Practice Solutions, about the intricacies of insurance for therapy practices. They discuss the reasons for taking insurance, navigating reimbursement rates, the steps in the credentialing process, and managing the revenue cycle. Jeremy emphasizes the importance of being strategic when selecting insurance providers and highlights the hurdles therapists may face. They also discuss the significance of choosing the right electronic health record (EHR) system and the benefits of having structured billing...2025-04-0425 min

Therapy For Your MoneyEpisode 173: Your Practice, Your Numbers: Why Owning Your Financial Data MattersNavigating Finances and Tech for Your Therapy PracticeIn this episode of Therapy for Your Money, Julie Herres, owner and accountant at GreenOak Accounting, discusses how technology impacts financial management for therapy practice owners. This episode was recorded after the unexpected closure of Bench.co, a popular bookkeeping service, which sparked this important conversation about owning your financial data and the potential risks of relying solely on cheap, tech-driven accounting options.Julie breaks down some of the challenges with services like Bench, such as their proprietary software that can make it hard to...2025-03-2816 min

Therapy For Your MoneyEpisode 172: Tips to Predict Income & Increase Take-Home Pay in Private PracticeMaximizing Income in Private Therapy PracticeIn this episode of Therapy for Your Money, host Julie Herres shares valuable tips on how therapists in private practice can predict their income and maximize their take-home pay. Julie explores three controllable factors in a practice: the number of sessions, the rate per session, and the percentage of income retained.By understanding personal capacity, examining historical data, and accounting for yearly variability, Julie provides concrete steps for financial planning. Additionally, she offers insights into the expected profit margins for various practice sizes and the potential impact...2025-03-2129 min

Therapy For Your MoneyEpisode 171: When Telehealth Crosses State Lines...Navigating Tax Considerations for Multi-State Telehealth PractitionersIn this episode of 'Therapy for Your Money,' host Julie Herres addresses a listener-submitted question about tax considerations for clinicians providing telehealth services across state lines. Julie highlights the complexities introduced by factors such as nexus, the location of clients, and state-specific tax laws. She offers valuable advice, emphasizing the importance of consulting with a tax preparer, maintaining clear client location records, and understanding state-specific regulations. Julie also discusses registration requirements for hiring across states and the impact of multi-state telehealth practice on business structures and tax filings.2025-03-1413 min

Therapy For Your MoneyEpisode 170: Financial Literacy for Leaders and CliniciansUnderstanding Financial Health: A Guide for Therapy Practice LeadersIn this episode of 'Therapy for Your Money,' host Julie Herres tackles the crucial issue of financial literacy for group practice leaders and clinicians. Julie, an accountant and the owner of Green Oak Accounting offers insights gleaned from her experience with private practice owners across the United States. The episode highlights the significance of grasping the financial realities involved in running a group practice, including how clinical sessions affect the practice's income, the dynamics of profit margins, and the difficulties caused by rising costs and...2025-03-0716 min

Therapy For Your MoneyEpisode 169: Why Relationships Matter in MarketingJoin host Julie Herres on Therapy for Your Money as she sits down with Jamie Schrier to discuss the essentials of relationship marketing for therapy practice owners. They delve into why marketing is crucial for bringing dollars into your practice and the challenges many therapists face when it comes to self-promotion. Jamie shares his journey from a busy physical therapist to a successful coach and explains how vulnerability and authenticity can strengthen your marketing efforts. Jamie also introduces his concept of relationship marketing, emphasizing the importance of creating awareness, identifying specific target audiences, and building strategic partnerships. Key takeaways...2025-02-2831 min

Therapy For Your MoneyEpisode 168: Industry Update: End of 2024 EditionNavigating Financial Challenges in 2025: Insights and Strategies for Therapy Practice OwnersIn this episode of 'Therapy for Your Money,' host Julie Herres, owner of Green Oak Accounting and author of 'Profit First for Therapists,' is joined by frequent guest Jacquie Carter to discuss various financial topics relevant to therapy practice owners. They cover a quarterly recap focusing on the challenges and changes faced by private practices in 2024, the importance of optimizing marketing efforts, and the critical role of administrative efficiency. They also stress the necessity of active participation from practice owners, especially during...2025-02-2130 min

Therapy For Your MoneyEpisode 167: The Profitable Website: Turning Design into DollarsIncrease Client Conversions with Effective Website StrategiesIn this episode of 'Therapy for Your Money,' host Julie Herres is joined by Daniel Fava from Private Practice Elevation to discuss the importance of investing in a well-designed website for therapy practices. Daniel shares common mistakes therapists make with their websites and emphasizes the return on investment a professional site can bring. Listeners will learn about the essential features every therapy website needs, such as clear calls to action and quality content that speaks directly to potential clients. Julie and Daniel also delve into the benefits...2025-02-1429 min

Therapy For Your MoneyEpisode 166: How to Manage Your Marketing Like a ProMastering Marketing Strategies for Therapists with Avivit FisherIn this episode of Therapy for Your Money, host Julie Herres dives into marketing strategies with Avivit Fisher, founder of Redd Strategy. They discuss practical steps for attracting clients and transitioning from insurance to private pay. Avivit shares insights on setting up and scaling a practice, emphasizing the importance of local marketing, crafting a brand strategy, and organizing marketing tasks using project management tools like Basecamp. As Julie notes, 'When everything is a priority, nothing is a priority.' Tune in for actionable tips to boost your...2025-02-0718 min

Therapy For Your MoneyEpisode 165: Is Starting a Non-Profit the Right Move?Adding a Nonprofit to Your Therapy Practice: Pros, Cons, and ComplianceIn this episode of Therapy for Your Money, host Julie Herres, owner of Green Oak Accounting, discusses the considerations and challenges of adding a nonprofit alongside your for-profit therapy practice. Julie explains the logistics of setting up a nonprofit, such as establishing a C corporation and obtaining nonprofit status from the IRS. She outlines the advantages, like tax-deductible donations and eligibility for grants, and the disadvantages, including compliance requirements and the need for board members. Julie emphasizes the importance of staying in compliance and...2025-01-3115 min

Therapy For Your MoneyEpisode 164: The Risks in RaisesNavigating Pay Raises in Therapy Practices: Key ConsiderationsIn this episode of Therapy for Your Money, host Julie Herres explores critical factors therapy practice owners need to consider when team members request raises. Julie highlights the importance of ensuring the business's financial health before rewarding employees and provides a comprehensive analysis of different compensation models, including salary, hourly rates, and commission-based structures. She shares practical tips on aligning raises with business profitability, evaluating team performance, and having transparent conversations with employees about financial realities. Julie also touches upon the pros and cons of offering bonuses...2025-01-2421 min

Therapy For Your MoneyEpisode 163: Is psychedelic-assisted therapy worth it (financially)?Integrating Ketamine-Assisted Psychotherapy into Your PracticeIn this episode of Therapy for Your Money, host Julie Herres delves into the logistics and financial benefits of adding ketamine-assisted psychotherapy (KAP) to a therapy practice. Joined by experts Dr. Sophia Branstetter and Karen Smith, they explore the minimal training requirements, income-generating opportunities, and how KAP can help manage seasonal income fluctuations. They also discuss the importance of community and consultation in navigating this emerging field. Tune in for practical advice and insights. Show Highlights00:00 Introduction to Therapy for Your Money00:42 I...2025-01-1729 min

Therapy For Your MoneyEpisode 162: Embracing the Power of TechnologyEmbracing Technology Trends in Therapy Practices with Amity CooperIn this episode of Therapy for Your Money, host Julie Herres discusses the intersection of technology and mental health with Amity Cooper, the owner of Clinical Career Collective. They explore the impact of emerging technologies like OpenAI, ChatGPT, and virtual reality on therapy practices. Amity highlights the potential these tools have for improving accessibility and client engagement, noting that immersive technologies are already transforming therapeutic approaches. They also delve into practical insights on how practice owners can incorporate these innovations cost-effectively and enhance their service offerings...2025-01-1022 min

Therapy For Your MoneyEpisode 161: Be the CFO of Your Own Life in 2025In the first episode of 2025, Julie Herres, host of Therapy for Your Money and owner of Green Oak Accounting, focuses on empowering therapy practice owners to take control of their finances. Julie provides practical tips to help listeners take charge of both personal and business finances, including:Maintain individual login credentials and use two-factor authentication for all accounts.Regularly review credit reports, bank statements, and financial transactions.Limit access to sensitive financial information in your business.Keep a comprehensive financial checklist for both personal and business accounts.Collaborate with a trusted accountant to spot red flags and ensure...2025-01-0324 min

Therapy For Your MoneyEpisode 160: Find the Perfect Balance of Growth in your BusinessFind the Perfect Balance of Growth in your BusinessIn this episode of Therapy for Your Money, host Julie Herres dives into the importance of effective delegation in private practices with guest Casey Gromer of C-Suite Boutique. Discussing the EOS framework, Casey emphasizes the distinction between visionaries and integrators. Key insights include the importance of delegating ownership rather than just tasks, understanding metrics, and the financial impacts of effective delegation. One notable quote: 'Right person, right seat.' Casey also shares tips on hiring the right people and offers services to help private practices streamline...2024-12-2727 min

Therapy For Your MoneyIs it ever too late to start a private practice?Financial Success at Any AgeIn this episode of 'Therapy for Your Money,' host Julie Herres talks with CJ DeMarco, a therapist who transitioned to private practice later in life. They discuss setting up for financial success using the Profit First system. Key topics include the advantages of private pay, the importance of niching, and the potential of intensives for trauma therapy. DeMarco shares her journey from educator to trauma therapist, highlighting that it's never too late to achieve financial security. A must-listen for therapists venturing into business and those curious about Profit First...2024-12-2035 min

Therapy For Your MoneyA Practice Owner's Guide to your Best Year YetPlanning for Your Best Year Yet: Financial Goal Setting for 2025In this episode of 'Therapy for Your Money,' host Julie Herres, an accountant and the owner of Green Oak Accounting, shares valuable insights on planning for a prosperous 2025. With her extensive experience working with therapy practice owners across the US, Julie emphasizes the importance of reflecting on the past year to set realistic financial goals. She discusses various financial targets, like revenue and profit margins, and the significance of creating a detailed plan to achieve them. Julie advises focusing on one or two specific...2024-12-1313 min

Therapy For Your MoneyEpisode 157: Don't get this life insurance...Why I believe Whole Life Insurance is a Bad InvestmentIn this episode of 'Therapy for Your Money,' host Julie Herres, owner of GreenOak Accounting, shares her strong opinion that whole life and universal life insurance policies are poor financial products. Julie delves into her personal experience with these policies, explains why they don't make financial sense for most people, and advocates for term life insurance. Focusing on keeping finances straightforward, she emphasizes separating life insurance from investments. Listeners will learn about the pitfalls of whole-life policies, the substantial savings with term life insurance, and...2024-12-0616 min

Therapy For Your MoneyEpisode 156: How much should you spend on marketing for your practice? (with Joshua Brummel)Marketing Strategies for Therapy Practices with Joshua BrummelIn this episode of 'Therapy for Your Money,' host Julie Herres dives into the intricacies of marketing with Joshua Brummel, the founder of Therapy Flow. They explore how therapy practice owners can optimize their marketing spend, categorizing it into infrastructure and ongoing activities. Joshua shares crucial metrics such as cost per lead and client acquisition cost, emphasizing the impact of these on overall profitability. They also discuss the importance of setting a marketing budget per clinician and the effectiveness of non-traditional marketing avenues like email campaigns...2024-11-2228 min

Therapy For Your MoneyEpisode 155: The Investment Most Small Business Owners DON'T NeedNavigating Retirement Plans: Avoiding Costly Financial PitfallsIn this episode of Therapy for Your Money, host Julie Herres dives into the complexities of retirement plans, focusing on the pitfalls of cash balance plans and the benefits of simpler options like 401ks and IRAs. Triggered by a recent client experience, Julie passionately argues against high-fee plans pushed by financial planners who are more interested in commissions than client welfare. She offers actionable advice, including three critical questions to ask your financial planner, and highlights the importance of choosing low-cost, high-value options like Gusto's integrated 401k plans...2024-11-1514 min

Therapy For Your MoneyEpisode 154 | The Business Owner’s Investment Playbook (with David Frank)Financial Mastery for Therapy Practice Owners: Investing, Retirement, and Real Estate InsightsIn this episode of Therapy for Your Money, host Julie Herres delves into essential financial strategies for therapy practice owners with certified financial planner David Frank. The discussion spans various areas, including the importance of emergency funds, distinguishing between personal and business finances, and the advantages of fee-only financial planners. Listeners will gain valuable insights into managing excess cash, understanding tax-advantaged accounts, and setting up business emergency funds. Simplified retirement planning is also covered, emphasizing target date funds and consistent savings. T...2024-11-0841 min

Therapy For Your MoneyEpisode 153 | I owe the IRS a bunch of $$$, now what?Mastering Tax Debt: Strategies and Solutions for Therapy Practice OwnersIn this insightful episode of 'Therapy for Your Money,' host Julie Herres of Green Oak Accounting provides therapy practice owners with essential guidance on managing tax debt. Julie covers crucial steps for addressing IRS notices, exploring payment plans, and applying for offers in compromise. She warns about the potential consequences of neglecting tax responsibilities and explains IRS procedures before drastic actions like wage garnishment or account seizure are taken. The episode also highlights the importance of timely payments, strategies for managing large debts, recognizing...2024-11-0116 min

Therapy For Your MoneyEpisode 151 | The 5 Financial Pitfalls of Starting a PracticeAvoiding Common Financial Pitfalls in Private Therapy PracticeIn 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...2024-10-1816 min

Therapy For Your MoneyEpisode 150 | Partners in Practice Series Part 2: Partnerships are (usually) a Bad Idea!Navigating Partnerships in Therapy Practices: Risks and ConsiderationsIn this episode of 'Therapy for Your Money,' host Julie Herres explores the complexities of forming partnerships in private practice. While partnerships seem like a good idea to share costs and responsibilities, they often come with significant risks. Julie dives into why about 80% of partnerships fail, compared to 50% of solo businesses. She discusses the importance of having detailed partnership agreements, covering crucial aspects such as profit sharing, administrative duties, and unforeseen events like disability, death, divorce, addiction, and disinterest. Julie provides real-world examples and insights into...2024-10-1118 min

Therapy For Your MoneyEpisode 149: Partners in Practice Series Part I: Partnership Agreements 101 (with Dan Mayer & David Yood)Navigating Partnerships in Private Therapy PracticesIn this episode of 'Therapy for Your Money,' host Julie Herres discusses the intricacies of partnerships in therapy practices with attorney Dan Mayer and practice owner Dave Yood. They explore the importance of having a well-crafted partnership agreement, key elements that need to be included, and potential sources of friction among partners. Dan and Dave share their experiences and share the key ingredients to maintaining successful partnerships.Episode Highlights00:00 Introduction to Therapy for Your Money00:49 Today's Topic: Partnerships01:26 Meet the Guests: Dan...2024-10-0433 min

Therapy For Your MoneyEpisode 148: Exit Strategy Series Part II: How Much is My Practice Worth?Understanding the Value of Your Therapy Practice: Essential Tips for SellingIn this episode of 'Therapy for Your Money,' Julie Herres, an accountant and owner of Green Oak Accounting, concludes a two-part series on selling your therapy practice. Julie delves into how to evaluate the worth of a practice, emphasizing the importance of practice size and the role of net profit in determining value. Listeners learn about EBITDA, economic conditions' impact, and multiples' significance in practice valuation. Julie also stresses the need to consult an accountant, attorney, and financial planner before accepting offers. Access...2024-09-2717 min

Therapy For Your MoneyEpisode 147: Exit Strategy Series Part 1: Preparing to Sell your Practice (with Nicole McCance)Exiting Your Group Practice: Insights and StrategiesIn this episode of 'Therapy for Your Money,' host Julie Herres, owner of Green Oak Accounting, discusses the intricate process of selling a group therapy practice with Nicole McCance, a retired psychologist who successfully sold her group practice. The conversation covers Nicole's initial reluctance to sell, her eventual decision influenced by seeing a peer's successful sale, and the detailed steps she took to ensure her business was attractive to buyers. Key topics include the importance of systemizing your practice, ensuring profitability, retaining a strong team, and the...2024-09-2030 min

Therapy For Your MoneyEpisode 146: Quarterly Update: What's on Practice Owners' Minds?Navigating Challenges in Therapy Practices: Insights and StrategiesThis episode of 'Therapy for Your Money' features host Julie Herres and GreenOak Accounting team manager Jacquie Carter discussing the financial challenges therapy practices faced this quarter. They explore themes of cautiousness among practice owners due to low intakes and referrals, the impact of external factors such as the Change Healthcare incident, and strategies for maintaining financial health, including prudent cash flow management and clinician compensation. The discussion also covers the importance of professional advice in navigating business decisions and thoughts on what the future may hold...2024-06-1428 min

Therapy For Your MoneyEpisode 145: Buying Real Estate for your PracticeNavigating the World of Buying Real Estate for Your PracticeIn this episode of Therapy For Your Money, host Julie Herres, an accountant and the owner of Green Oak Accounting, explores the complex decision of buying real estate for therapy practice owners. She delves into the reasons for and against purchasing a building, embracing the principle that such a significant financial step should align with one's long-term goals rather than be influenced by the actions of peers. Julie discusses the upfront and ongoing financial commitments of owning versus renting, including the potential for higher expenses...2024-06-0717 min

Therapy For Your MoneyEpisode 144: Your sales funnel: Who is your Ideal Client Avatar? (with Jenn Fredette)Therapy for Your Money: Unveiling the Power of Marketing in Therapy PracticesIn this episode of Therapy for Your Money, host Julie Herres, an accountant and owner of Green Oak Accounting, explores the crucial yet often avoided topics of money and marketing for therapy practice owners. Joined by guest Jenn Fredette, a psychotherapist and marketing enthusiast, the discussion delves into overcoming the challenges associated with financial management and marketing within a private practice. Jenn shares her journey from psychotherapist to marketing mentor, emphasizing the similarities between clinical work and marketing and the importance of authentic...2024-05-3129 min

Therapy For Your MoneyEpisode 143: My Experience, Insights, and Best Practices for Navigating a Department of Labor AuditIn this episode of 'Therapy for Your Money,' hosted by Julie Herres, the focus is on understanding Department of Labor (DOL) audits through the lens of a therapy practice owner. Julie shares her personal experience with a DOL audit in 2023, emphasizing the rarity of such audits for small businesses and outlining what triggers them. She provides a detailed account of the audit process, what the DOL investigates, and the kind of information they request, ranging from employee data to time and payroll records. Highlighting the challenges and emotions involved, Julie offers practical advice for handling audits, including the...2024-05-2419 min

Therapy For Your MoneyEpisode 142: The 5 Steps to Successful Delegation (with Uriah Guilford)Mastering Delegation: A Guide for Therapy Practice OwnersThis episode of 'Therapy for Your Money' features host Julie Herres and guest Uriah Guilford discussing the importance of efficiency, delegation, and reducing stress for therapy practice owners. Uriah, a group practice owner and the founder of Productive Therapist shares his personal mission of making work and life easier and more fun. He introduces a five-step process for successful delegation: 1) Create a clear goal, 2) Create a written procedure (SOP), 3) Do effective training, 4) Give clear feedback, and 5) Maintain good accountability. Throughout the conversation, both speakers emphasize the significance...2024-05-1743 min

Therapy For Your MoneyEpisode 141: What it Takes to Be a Wealthy TherapistTherapy for Your Money: Becoming a Wealthy TherapistIn this episode of 'Therapy for Your Money,' host Julie Herres discusses her insights on wealth accumulation for therapists. The economic rules discussed include spending less than what one earns, saving at least 10% of annual income, using debt wisely, having term life insurance if one has dependents, having emergency funds personally and in business, and ensuring one has a will. Lastly, she emphasizes the need for consistency in practicing these habits and that becoming wealthy is usually gradual.Episode Highlights 2024-05-1023 min

Therapy For Your MoneyEpisode 140: Behind the Numbers of Self-Publishing: Profit First for Therapists Turns OneBehind the Numbers of Self-Publishing: Profit First for Therapists Turns OneIn this Therapy for Your Money episode, host Julie Herres, an accountant and owner of Green Oak Accounting, celebrates her book's first anniversary, Profit First for Therapists. She discusses the comprehensive details of self-publishing a niche book, including the financial and time commitments required. Julie provides insights into the costs associated with developmental editing, proofreading, typesetting, audiobook production, marketing, and promotional materials for the all in total. She sheds light on the book's sales performance, revealing that despite the significant upfront costs, the book...2024-05-0327 min

Therapy For Your MoneyEpisode 139: In Search of You - an interview with Kasey ComptonFinding Joy and Understanding Self-Love with Kasey ComptonIn this episode of 'Therapy for Your Money', host Julie Herres, an accountant and owner of Green Oak Accounting, talks with three-time guest Kasey Compton about her new book, 'In Search of You'. They delve into the journey of writing the book, its personal nature, and the process of self-discovery and vulnerability Compton experienced. 'In Search of You' explores themes of self-love, the quest for joy beyond achievements, and the impact of one's past on the present. Kasey shares insights into her own life, including challenges with m...2024-04-2629 min

Therapy For Your MoneyEpisode 138: Understanding Retirement Plans: Options for Business OwnersUnderstanding Retirement Plans: Options for Business OwnersIn this episode of Therapy for Your Money we discusses the different retirement plans available to business owners. She details four main business retirement plans: traditional 401k, Safe Harbor 401k, Simple IRA, and SEP IRA. Julie outlines the benefits, limitations, and eligibility criteria for each plan, highlighting how these can align with various business scales and circumstances. She also introduces two personal retirement plans, the IRA and the Roth IRA, noting that business owners may have restricted eligibility for these. Lastly, Julie discusses the concept of ‘backdoor Roth,’ an o...2024-04-1921 min

Therapy For Your MoneyEpisode 137: The #1 Thing You Must Do To Get More Private-Pay Clients (with Deb Legge)Unlocking the Power of Private Pay Practice: Expert Insights and AdviceIn this episode of 'Therapy for Your Money', host Julie Herres discusses the importance of private pay practices for therapists with guest Deb Legge, a mental health professional and business coach. Deb shares her experiences shifting towards private pay practices, emphasizing the importance of understanding value, the necessity of effective marketing, and the benefit of identifying and reaching out to key target markets. Furthermore, she discusses strategies for dealing with potential clients' insurance questions and reminds practitioners that their ultimate goal is to provide...2024-04-1228 min

Therapy For Your MoneyEpisode 136: Creating a Million-Dollar Therapy PracticeIn this Therapy for Your Money episode, host Julie Herres, an accountant specializing in private practices, shares insights on creating a million-dollar therapy practice. She clarifies that a million-dollar practice generates gross annual revenue, not profit. She illustrates how practices achieve this, noting it involves robust systems around marketing and client acquisition, ongoing recruitment, and strategic delegation. Moreover, she warns against unsustainable hiring and compensation practices. Julie also promotes her webinar on common hiring mistakes made by practice owners.Episode Highlights00:00 Introduction to the Podcast00:49 Understanding a Million-Dollar Practice01:00 The Reality of a Million-Dollar...2024-04-0511 min

Therapy For Your MoneyEpisode 135: Are you Avoiding your Money? (with Khara Croswaite Brindle)In this episode of the 'Therapy for Your Money' podcast, host Julie Herres talks to mental health therapist and financial therapy practitioner Khara Croswaite Brindle. They discuss the prevalent issues of money avoidance and insecurity among private practice owners, often stemming from deeply ingrained beliefs and traumas about money. The conversation delves into the concept of 'noble poverty' in the industry, misconceptions around the pursuit of profit, and the importance of addressing these issues through financial therapy. Khara describes her approach to helping clients, often fellow therapists, to gradually confront their fears and cultivate a healthier relationship...2024-03-2921 min

Therapy For Your MoneyEpisode 134: Strategies for Making Retreats Profitable (with Patrick Casale)In this episode of 'Therapy for Your Money,' host Julie Herres and retreat planning expert Patrick Casale delve deep into the world of retreats. They discuss strategies for successful retreat planning, including creating a detailed budget, understanding the true costs, setting realistic prices, developing effective marketing strategies, and offering add-ons such as CEUs (Continuing Education Units), excellent accommodation, and local experiences to attract participants. Patrick's experience planning retreats and his tips for overcoming common challenges provide invaluable insights for anyone considering launching their own retreats.Show Highlights00:04 Introduction to the Podcast00:47 Guest Introduction...2024-03-2235 min

Therapy For Your MoneyEpisode 133: Contractor vs Employee: Understanding the new DOL rulesUnderstanding the Implications of Hiring Contractors vs Employees in Therapy PracticesIn this episode of 'Therapy for Your Money,' host Julie Herres discusses the implications of employing contractors versus employees in therapy practices. She unpacks a recent ruling from the Department of Labor and its six factors for determining employment relationships. She emphasizes that legislation is moving towards favoring employee relationships. While the immediate impact on therapy practices may be limited, it is prudent for owners to begin considering the transition from contractors to employees. Julie also shares useful resources to help small businesses...2024-03-1525 min

Therapy For Your MoneyEpisode 132: Nonprofit to Corporate Mindset (with Davia Roberts)In this episode, Julie Herres and her guest Davia Roberts discuss the differences between the nonprofit and corporate mindsets in the therapy field. They explore the challenges faced by therapists working in nonprofits, such as low pay, unrealistic expectations, and the guilt associated with prioritizing financial security. They also debunk the stigma around therapists transitioning from nonprofit to corporate settings.Financial Challenges in Nonprofit SettingsThe conversation highlights the financial challenges faced by therapists working in nonprofit settings. Many therapists in these settings are overworked and underpaid, with unrealistic workloads and limited resources. Struggles...2024-03-0832 min

Therapy For Your MoneyEpisode 131: Lessons learned from highly successful business ownersLessons from Successful Business Owners: Strategies and Habits for Profitable PracticesHost Julie Herres discusses the habits and strategies common among the most successful business owners. She emphasizes not to equate the appearance of wealth with actual success. She suggests that successful business owners often do not overextend their resources but smartly use credit cards and plan investments. Successful business owners rarely take uncalculated risks. They value their time and spend it wisely on the business. They have emergency funds, focus on perfecting one revenue stream before moving on to others, and rely on experts...2024-03-0117 min

Therapy For Your MoneyEpisode 130: Tips for Weathering the Storm in Your Group Practice (with Maira Holzmann)Episode Summary:In this episode, Maira Holzmann and Julie Herres delve deep into the intricacies of managing finances in the world of therapy practice. They discuss the challenges and revelations they've faced, from reevaluating their perceptions of debt to the importance of joy spotting amidst the stresses of business. Maira shares her transformative journey with money, emphasizing the need for prioritization and respect in handling finances. Julie offers insights into the dual-edged nature of business ownership, highlighting the balance between control and uncertainty.Episode Highlights:Talk very plainly about...2024-02-2328 min

Therapy For Your MoneyEpisode 129: Make more money in your practiceHow to Increase Your Income in Private Practice: Three Levers All Practice Owners Can UseIn this podcast episode of Therapy for Your Money, host Julie Herres discusses levers that therapy practice owners can control to increase their income. The first lever is the number of sessions provided by the practice, in which an increase should generate higher profits. The second lever is the average fee per session, increasing rates should lead to higher income, assuming overheads don't rise. The final lever is the allocation of income, more specifically, how much owner's pay they assign themselves. By...2024-02-1610 min

Therapy For Your MoneyEpisode 127: Why your intake coordinator should be a sales person Part 1 (with Sarah Riley)In this episode, Julie Herres, the host of 'Therapy for Your Money' speaks with Sarah Riley, the business development manager at Green Oak Accounting, about reimagining the role of an intake coordinator to work more like a salesperson. They discuss how a sales-oriented approach can significantly improve a therapy practice's conversion rates, making it more profitable. They also explore practical tips on how to implement this approach, deal with ethical concerns, and how choosing the right person with a sales mindset can help provide better service to clients.In this episode, you will discover:...2024-02-0222 min

Therapy For Your MoneyEpisode 126: Financial Professionals 101: Practice Owner edition! (with Linzy Bonham)In this episode of "Therapy for Your Money," Julie Herres and Linzy Bonham discuss the various types of financial professionals that therapy practice owners might work with or encounter. They highlight the importance of understanding the roles and responsibilities of these professionals to make informed decisions for one's business.Bookkeepers and Accountants for Therapists The discussion starts with an overview of bookkeepers and accountants. Bookkeepers manage the financial records, transactions, and basic financial tasks, while accountants have a more comprehensive understanding of taxes, bookkeeping, and payroll. Accountants might also provide forward-looking analysis, helping business...2024-01-2620 min

Therapy For Your MoneyEpisode 125: Charge your Full Fee with Confidence (with Alyse Freda-Colon)In this enlightening episode of "Therapy for Your Money," host Julie Herres dives into the crucial topic of embracing your full fee as a therapist and getting comfortable with it. She is joined by Alyse Freda Colon, a seasoned therapist with 18 years of experience in private practice. Shifting the Mindset Around Fees Alyse encourages therapists to recognize the immense value they provide through their work and to overcome the fear of charging their worth. As she aptly puts it, "We are doing kick-ass life-changing work, and you need to acknowledge that you are providing a...2024-01-1922 min

Therapy For Your MoneyEpisode 123: Start the new year right by implementing Profit First!Welcome to Therapy for Your Money, a podcast dedicated to all things money and finance for therapy practice owners. I'm Julie Herres, an accountant and owner of Green Oak Accounting. With years of experience working with private practice owners, my goal is to share the best practices I've learned to help you build a profitable private practice. In this episode, I talk about starting your year off right by implementing Profit First. In this episode, you will discover:What is Profit First: You will gain a clear understanding of what Profit First is and how it...2024-01-0517 min

Therapy For Your MoneyEpisode 122: Launch Party Series: The Making of Profit First for Therapists with Mike MichalowiczWe've got an exciting new episode of our Live Stream Launch Party Series! On May 2nd, 2023, Julie released her book, Profit First for Therapists. We threw a huge online launch party with GreenOak Accounting team members, real practice owners who tell their stories in the book, and the original creator of Profit First, Mike Michalowicz to celebrate this exciting event. We wanted to share the stories told during our launch event with our podcast listeners so you could be part of the celebration with us!On today’s episode, we’re joined by none other than the crea...2023-12-2218 min

Therapy For Your MoneyEpisode 121: Make 2024 your best year ever! (Setting financial goals for the next year)Setting Effective Financial Goals for 2024In this episode of 'Therapy for Your Money', host Julie Herres discusses tips on how to make 2024 the most productive financial year yet for private practice owners. She encourages listeners to evaluate previous successes and align future goals with their personal ambitions, focusing on both financial and non-financial targets. Additionally, she emphasizes the effectiveness of setting SMART goals. Finally, she announces an upcoming 'Make 2024 Your Best Year Yet Workshop' where attendees can work on their goals and financial plans.Aligning Personal Goals with Financial Goals: When...2023-12-1514 min

Therapy For Your MoneyEpisode 120: Retreat recap - What's on group practice owners minds right now? KPIs and systems!In this podcast episode, host, Julie Herres discusses the challenges faced by therapy practice owners. Topics covered include the ongoing trends of low referrals and low conversions in the fall of 2023, difficulty in achieving productivity goals, and the importance of tracking metrics and establishing robust financial systems. Julie goes on to recommend solutions that can improve the financial conditions of therapy private practices, underlining the importance of clarity and accessibility in financial systems while noting the difference between accounts receivable from different practices. The episode also delves into the significance of having an effective billing system for maintaining regular...2023-12-0813 min

Therapy For Your MoneyEpisode 119: Why you shouldn't prepare your own tax return as a business owner (Top 5 reasons)In this enlightening episode of “Therapy for Your Money,” we had the pleasure of hosting Emily and Julie Herres. Both experts dive deep into the intricacies of state taxes, the importance of hiring tax professionals, and the potential pitfalls of self-preparation. Their insights are particularly valuable for those in the counseling and therapy fields, aiming to strike a balance between their passion for helping others and the practicalities of running a profitable business.The Complexity of State TaxesEmily emphasizes the complexity of state taxes, noting that they can be even more intricate than...2023-12-0116 min

Therapy For Your MoneyEpisode 118: Q4 Industry UpdatesOn Episode 118, join our host, Julie Herres, and special guest, Jacquie Kiefer of Green Oak Accounting, for a guiding discussion about the fourth-quarter financial trends and challenges faced by therapy practice owners. In this captivating dialogue, they delve into issues that are impacting the industry's monetary climate, from dwindling referrals to the implications of accelerating inflation on private practices. The conversation also sheds light on the rising popularity of therapy applications, such as BetterHelp, and its corresponding effects on the industry.The discussion concludes with valuable end-of-year financial strategies designed specifically for private practice owners, aimed at...2023-11-1722 min

Therapy For Your MoneyEpisode 116: What is the number you need to feel financially secure as a business owner?In the ever-challenging landscape of the mental health industry, private practice owners often grapple with burnout. Julie Herres highlights the significance of having a clear financial goal or "number" to navigate these challenges. "It has been a hard couple of years in the mental health industry," Julie remarks, emphasizing the power of a financial target to bring clarity and direction.What You'll Learn:The importance of balancing income with liquid assets for financial security.The "comfort number": Why having 3-6 months' worth of personal expenses and 1-2 months of business expenses can be a game-changer.Why...2023-11-0316 min

Therapy For Your MoneyEpisode 113: Tips to increase income in your group practice without marketing (with Nicole McCance)Welcome to episode 119 of the "Therapy for Your Money" podcast! Host Julie Herres dives into effective ways to boost income in a group practice without solely relying on marketing efforts. Her guest, Nicole McCance, a former psychologist and founder of a thriving group practice, shares invaluable insights drawn from her journey of scaling her practice and transitioning into coaching. McCance emphasizes the importance of tapping into your existing client base and optimizing internal processes.To learn more about McCance's coaching program and insights, listeners can access her "Expand Your Practice Starter Kit 2023-10-1321 min

Therapy For Your MoneyEpisode 107: How do you know if you're working with the right accountant for you and your practice? (with Linzy Bonham)Choosing an accountant that best fits the needs of your practice can seem intimidating but today's episode will put your mind at ease! Julie's chatting with Linzy Bonham, the genius behind Money Nuts & Bolts, to discuss what kind of questions you should ask a new accountant, how to figure out your accounting needs, and how to manage your expectations of an accountants scope. Linzy Bonham is a private practice therapist turned money coach who helps private practice owners and health professionals feel calm and in control of their finances through her coaching at Money Nuts & Bolts and...2023-09-0119 min

Therapy For Your MoneyEpisode 85: Profit First For Therapists Official Book Announcement!Drumroll please... Julie is ecstatic to announce that her book, Profit First For Therapists, is available for pre-order! Take a listen to Julie’s personal Profit First journey, her process with writing the book, and all the special bonus offers available to anyone who pre-orders a copy. CLICK HERE if you are interested in pre-ordering your own copy of Profit First for TherapistsAlso, make sure to visit www.ProfitFirstForTherapists.com to register your pre-order and gain access to your bonus content!LINKS & RESOURCES:GreenOak Accounting - www.GreenOakAccounting.comTherapy For...2023-01-1316 min

Therapy For Your MoneyEpisode 76: Adding a Revenue Stream with Clinical Supervision Directory (with Dr. Amy Parks)At Therapy For Your Money, we're big believers in supporting the therapists and clinicians that make such a great impact on our communities. Today, we're talking about a great way to increase your revenue, offer new opportunities to your clinicians, and widen the impact your practice can have through the Clinical Supervision Directory! Today, Julie's chatting with Dr. Amy Parks all about the Clinical Supervision Directory and how you can implement it into your practice.Dr. Amy Parks has over 30 years of experience working with children, adolescents, and families as both an educator and psychologist. She has...2022-10-1426 min

Therapy For Your MoneyEpisode 75: Selling Your Private PracticeSince the inception of Therapy For Your Money, we have received so many requests to do this episode, so here it finally is... all about selling your private practice! Julie collaborated with a Development & Acquisition Specialist to answer all of our listener's burning questions about what it entails to sell their practices. If you're interested in finding out where to start, how to go into negotiations confidently, and what all a buyer might be looking for, then today's episode is for you.DISCLAIMER - The details of this episode should not be used for professional advice. Please...2022-10-0712 min

Therapy For Your MoneyEpisode 74: All About Julie & Her StoryWelcome back to Season 3 of Therapy For Your Money! We're kicking off this season with a unique episode composed of some personal questions our listeners have asked over our previous 2 seasons, and Julie's sitting down today to answer them.Julie is the owner of GreenOak Accounting, an accounting firm dedicated to helping private practice owners and therapists grow their financial knowledge and expand their businesses. Over the years, Julie's niche client group came naturally (and by total accident!), but it turned out to be a blessing in disguise! GreenOak Accounting has allowed Julie to expand her reach...2022-09-3012 min

Therapy For Your MoneyEpisode 73: 3 Reasons to Take A VacationWe couldn't think of a better way to wrap up Season 2 than with a vacation episode! Today, we're kicking back and looking forward to the summer ahead, and want you to do the same.Make sure to check out our summer reading list at the end of this episode!Episode Highlights:Reason #1 To Take A Vacation - You need it!Running and managing a private practice can be exhausting and overwhelming... You deserve a break!It's important to relax, recharge, and refreshReason #2 To Take A Vacation - Find inspiration!Ideas tend to come to...2022-06-2406 min

Therapy For Your MoneyEpisode 70: Tax Deductions - Personal Therapy (with Heidi Stepzinski)We have our last Tax Deduction episode of Season 2! If you've been wondering if you can consider your own personal therapy as a tax deduction, we've got the answer. Julie is joined again by Heidi Stepzinski, and they are talking about the different instances where meeting with a fellow therapist can be a tax deduction!Episode Highlights:Most of the time, personal therapy does NOT count as a tax write-offPersonal therapy is a personal expense, not something related to your businessWhen can meeting with a therapist be considered a tax deduction?When meeting with...2022-06-0306 min

Therapy For Your MoneyEpisode 67: When should you give team members access to your finances? (with Heidi Stepzinski)Whether your team is growing or your practice is going through leadership changes, there can be a number of reasons why it might seem efficient to share the financial picture of the business with certain team members. However, this can definitely be a slippery slope! Julie's chatting with Heidi Stepzinski of the GreenOak Accounting team to talk about when it makes sense to share the finances of the business, and some alternative solutions that can help keep your finances private.Heidi Stepzinski is the Accounting Director and one of the licensed CPAs at GreenOak Accounting. Heidi is...2022-05-1310 min

Therapy For Your MoneyEpisode 65: Tax Deductions - International Business TravelWe're coming back this week with another episode of our Tax Deduction mini series all about International Business Travel! Julie's inspiration for this episode came from an invitation to participate in an international conference, which got her thinking about how international travel for business may be deductible.Take a look at IRS Publication 463 by clicking here!Episode HighlightsMost areas of tax are usually black and white; however, deductions pertaining to international travel for business can fall in a bit of a grey area so it's always important to consult your tax...2022-04-2916 min

Therapy For Your MoneyEpisode 64: Distilling Your Dreams into Business Ideas (with Diane Tarshis)When you have an idea for an expansion to your business - such as an online course or a therapy retreat - it can be difficult to know where to start! Julie's chatting with Diane Tarshis of Startup Distillery to talk about how to focus on your ideas, create a plan, and turn to experts in places you may need help.Use code "therapy" to receive 1 FREE hour of consulting with Diane!Diane Tarshis is a seasoned business advisor and the founder of Startup Distillery. Working with entrepreneurs across the US and around the globe...2022-03-1221 min

Therapy For Your MoneyEpisode 63: Treat Your Practice Like an Investment (with Eric Miller)One of the biggest investments you will make in your life is your practice! In order to make sure you get the most out of your investment down the road, it's important to sit down with a financial advisor and figure out how to increase the value of your investment and transition it into a forever plan. Today, Julie's chatting with Eric Miller of Econologics Financial Advisors about approaching financial planning with your best future in mind.Eric Miller has been in the financial planning industry for over 20 years. He is Co-Owner of Econologics Financial Advisors and...2022-03-0530 min

Therapy For Your MoneyEpisode 61: The Pros + Cons of Different Income Streams for Therapists (with Nicole Liloia)There are many opportunities to create a source of passive income in the therapy industry! Today, Julie’s sitting down with Business Coach & Strategist, Nicole Liloia, to talk about the pros & cons of passive income streams and how to decide which avenue would be best for your business.Nicole Liloia's first business was a private practice where she worked with counseling clients and supervised other therapists, but she quickly added in new income streams so that she could travel while still running her business online. She got her Master's in Social Work from Columbia University and has co...2022-02-1836 min

Therapy For Your MoneyEpisode 60: Tax Deductions - Meals & EntertainmentToday launches a new mini-series... Tax Deductions! Meals & Entertainment is the most common deduction we get questions about, and Julie's here to give you the scoop on which meals you can deduct, what kinds of entertainment qualify, and examples of some meals that aren't deductible.DISCLAIMER - Always consult with a tax professional to determine what tax deductions you are eligible for.Links & Resources:GreenOak AccountingTherapy For Your Money Podcast 2022-02-1205 min

Therapy For Your MoneyEpisode 56: How to Diversify Your Income and Get More Out of Group Programs (with Annie Schuessler)Many private practice owners seek out different revenue streams through group programs or online coaching services... but it can be difficult to start! Today, Julie's chatting with Annie Schuessler about diversifying your income and giving you some tips for finding your niche.Annie Schuessler is a business coach and the host of the podcast Rebel Therapist® Podcast. With her Rebel Therapist® Programs, she helps therapists, healers and coaches make an impact beyond a traditional private practice.Episode Highlights:Once private practice owners diversify their practice with additional programs or services, how do th...2022-01-0729 min

Therapy For Your MoneyEpisode 55: Questions with Julie (Q&A Series) (with Sarah Riley)It's time for another episode in our Q&A Series! Julie's sitting down with the Business Development Manager of GreenOak Accounting, Sarah Riley, to answer YOUR questions about taxes, savings, and buying property!If you're interested in submitting a question for a future Q&A episode, click HERE to visit our submission page on our website!Links & Resources:GreenOak AccountingSchedule a ConsultationTherapy For Your Money Podcast 2021-12-1713 min

Therapy For Your MoneyEpisode 54: Is SEO a solid investment for your practice? (with Jessica Tappana)SEO (Search Engine Optimization) is a critical piece to your private practice's marketing puzzle - especially if you're a private-pay practices. SEO can greatly improve the traffic that comes to your website and increase your leads, but is it worth the money? Julie is sitting down with Jessica Tappana of Simplified SEO Consulting to talk about all things SEO!Jessica Tappana understands both the world of private practice & SEO. She is a Licensed Clinical Social Worker with a private pay group psychotherapy practice in Missouri. In the course of building her practice, she learned SEO and founded...2021-12-1030 min

Therapy For Your MoneyEpisode 53: Getting Your Books Ready for the End of the Year2022 is right around the corner and we want to make sure you are fully prepared to close out your books and start the year out fresh! Julie's gathered her top tips to make closing out your 2021 books a breeze.Episode Highlights:Step 1: Make sure that all of your transactions are captured and your books have been reconciledStep 2: If you have a payroll provider, take some time to sit down and do an annual payroll reviewStep 3: Prepare to send out 1099's to any service vendor you have paid more...2021-12-0410 min

Therapy For Your MoneyEpisode 51: Tax Tips for 2021Tax season is right around the corner! Julie's sitting down with two members of the GreenOak Accounting Tax Team, Emily and Linda, to discuss our top tax tips for reducing your tax liability and optimize your benefits.Episode HighlightsTax Planning v. Tax PreparationTax Planning – proactive look at the business to evaluate opportunities to legally reduce the tax burden at the beginning of the yearTax Preparation - happens after the year is over and there are limited opportunities to change your tax amount owedTip #1 – Accelerating ExpensesIf you’re a cash-based business, it is more benefi...2021-11-2026 min

Therapy For Your MoneyEpisode 48: Coaching Series (with Kristen Ballard)Incentivizing your team members by incorporating PTO, insurance, and even retirement plan benefits into your private practice can greatly improve your overall employment retention and strengthen your relationship with your employees. Today, Julie's chatting with Kristen Ballard of The Ballard Clinic about the many ways she can incorporate benefits into her business in a cost-effective way.Links & ResourcesGreenOak Accounting Therapy For Your Money Podcast Ballard Clinic 2021-10-3029 min

Therapy For Your MoneyEpisode 45: Adding Benefits To Your Group PracticeIt’s that time of year again! We are receiving a TON of questions about adding benefits to your group practice for your team members, and there are several factors that play in to adding benefits in successfully. Julie’s talking through the 5 most common benefits added to group practices and which benefits could be a great fit for your business!*Disclaimer: We always recommend consulting with an employment attorney to make sure you are meeting all requirements of your state before implementing benefits for your employees.Episode Highlights:Continuing Educ...2021-10-0822 min

Therapy For Your MoneyEpisode 43: Financial ABC's of Starting Your Private PracticeWe want you to feel 100% confident about your finances when opening your first private practice! Julie has curated her top financial building blocks for therapists and is sharing them in today's episode.Episode Highlights:Take (A)ctionIf you are wanting to open your practice... go for it!The sooner you open, the faster you can start making moneyYou do not need to spend a lot of money on equipment or space to get started (especially in a world where teletherapy is growing!) - it's better to come up with an intentional plan on action...2021-09-2414 min

Therapy For Your MoneyEpisode 42: What kind of audits are out there?Audits are COMPLICATED. There are a number of audits that can be performed at the local, state, and federal levels, and Julie is here to break them down. Today's episode gives you the 4-1-1 on different kinds of audits, steps to take when you're being audited, and some info on how to avoid a scam audit.As always, we recommend consulting with a CPA, an EA, or a tax attorney for any legal advice.Episode Highlights:What are some common types of audits?Worker Classification Audit - employee v...2021-09-1715 min

Therapy For Your MoneyEpisode 41: Coaching Series (with Dr. David Goode-Cross)Today, we're introducing a new series to the podcast - Client Coaching! Julie is chatting with Dr. David Goode-Cross about the challenges in his own business and how to tackle each problem including onboarding new clinicians, best practice when scaling his practice, and investing in real estate. Dr. David Goode-Crosse is the owner and a psychotherapist at East Towson Psychological Services, located outside of Baltimore, Maryland. His practice specializes in working with the LGBTQ+ community, as well as people of color. David also enjoys mentoring new clinicians who are entering their professional fields from their educational programs, an...2021-09-1036 min

Therapy For Your MoneyEpisode 40: All About Quarterly Estimated TaxesFederal Quarterly Estimated Taxes can be tricky. You may not be sure if you’re required to pay them, how much or when to pay, or even how to make the payments… but that’s what we’re here for! Today, Julie talks about all things E.T.P. (Estimated Tax Payments) and how to navigate them. Episode Highlights:Who is required to make Federal Quarterly Estimated Tax Payments?If you are self-employed, a house-hold employer (nanny, landscaper, etc.), or have a high income householdIf you're going to owe above $1,000 in taxes for the following...2021-09-0316 min

Therapy For Your MoneyEpisode 27: Questions with Julie (Q&A Series)This week, we’re answering YOUR questions! We asked our listeners to submit questions and we are excited to sit down and work through them. Today, we will be covering topics from credit card processing and Profit First, to compensation and legal entities. If you are interested in submitting a question for a future Q&A episode, make sure to click HERE! LINKS & RESOURCES: GreenOak Accounting Therapy For Your Money Podcast Q&A Submission Form 2021-04-0230 min

Therapy For Your MoneyEpisode 25: Using TV Appearances to Market Your Practice (with Esther Boykin)Are you looking for a new way to market your private practice? We've got a great idea for you! Utilizing TV appearances, such as morning news shows or reality TV, can be a great benefit for your practice. There are a number of ways to get your foot in the door to get started in TV, and we're here to help!This week, Julie sits down with Esther Boykin to discuss TV appearances and how it's helped her grow her private practice! Esther Boykin is a psychotherapist who wants to live in a world where everyone believes...2021-03-1924 min

Therapy For Your MoneyEpisode 23: Let's Talk About Retirement Planning (with Ariel Ward)Adding a Personal Financial Planner to your business team can help you better manage your business by guiding you in clearly defining your goals. They can also help you tie your business goals into your personal life by explaining how much profit you should be making at each stage of your business and how to use that money to live comfortably.On this week's episode, Julie is joined by Ariel Ward! Ariel Ward, CFP® is a financial advisor at Abacus Wealth Partners. She has over a decade of experience in the field of personal financial services and i...2021-03-0521 min

Therapy For Your MoneyEpisode 22: How to Market a Cash-Pay Private Practice (with Whitney Owens)While insurance companies take care of the majority of client referrals for insurance-based practices, marketing a cash-pay only private practice is a different ball game! Generating your own leads can be a challenge, and we want to give you the basics to get started. Today, Julie is joined by Whitney Owens, a Licensed Professional Counselor and Private Practice Consultant in Savannah, Georgia. In addition to running her practice, she offers individual and group consulting through Practice of the Practice. Whitney places a special emphasis on helping clinicians start and grow faith-based practices. She hosts a podcast to h...2021-02-2627 min

Therapy For Your MoneyEpisode 18: Making Money with Clinical Groups (featuring Carrie Haynes)Adding groups into your private practice may seem intimidating or impossible, but in this week's episode, we make it easy! Julie sits down with Carrie Haynes, the genius behind The Art of Groups, and talks all about when it's a good time to implement groups into your practice, how to manage compensation of clinicians while adding groups, and some tips & tricks she's learned along the way!Carrie Haynes is a Licensed Professional Counselor who has been practicing for over 10 years. She is a specialist in group therapy, and has led numerous therapy groups, workshops, and retreats. She...2021-01-2931 min

Therapy For Your MoneyEpisode 17: Non-Profits in Private Practice (with Tosha Anderson)If you are wondering if it's time to shift your private practice to a non-profit, or if you're interested in adding a non-profit arm to your business, check out today's episode featuring Tosha Anderson! She and Julie chat all about non-profits in private practice from compliance to compensation. Tosha also mentions some great resources for when you are looking to get started!Tosha Anderson is the founder of The Charity CFO, an accounting firm that specializing in working with non-profits across the United States. She has years of experience as an auditor, non-profit board member, and a...2021-01-2234 min

Therapy For Your MoneyEpisode 16: Alternate Revenue Steams in Private Practice (with Katie Vernoy)Are you looking for some ideas of ways you can grow your private practice outside of regular clinical work? You're in luck! This week, Julie sits down with Katie Vernoy of Therapy Reimagined to talk about alternate revenues streams for you to incorporate into your own business!Katie Vernoy is a therapist, coach, consultant, and co-founder of Therapy Reimagined! She is also the co-host of The Modern Therapist Survival Guide Podcast, a podcast created to teach therapists how to approach their roles in a modern age. She believes in empowering private practice owners to create businesses that...2021-01-0836 min

Therapy For Your MoneyEpisode 15: Financial Hurdles Transitioning from a Solo to Group PracticeRegister for our FREE Live Profit First Webinar on Dec. 18th, at 1 PM EST - CLICK HERE!Growing from a solo practice to a group practice doesn't have to be a challenge! This week, Julie breaks down common financial hurdles that most therapists encounter when growing their private practice, and different ways you can avoid them to make your transition easy.Episode Highlights:Hiring: Your first hire is critical! You are setting the stage for all future hiresCompensation: This will become the highest expense of your practice once...2020-12-1818 min

Therapy For Your MoneyEpisode 13: Profit First in Private Practice (with Mike Michalowicz)"Every time revenue comes into your practice, you subtract a predetermined amount as profit, and you run your business on the remainder" - Mike MichalowiczThe Profit First methodology has transformed thousands of struggling businesses into money making machines! If you're interested in implementing Profit First into your private practice, today's episode is made for you.Register for our FREE Live Profit First Webinar on Dec. 18th, at 1 PM EST - CLICK HERE!This week, Julie sits down with the genius behind Profit First, Mike Michalowicz. Mike is a...2020-12-0426 min