Feeling intimidated by the financial aspects of starting your own private practice? Let Heard help! In this episode, Heard CEO, Andrew Riesen, explains how his company provides financial assistance to therapists breaking out on their own. Host Kelley Stevens asks all the right questions as they walk through solutions to all the "scary stuff" –from paying yourself and creating bank accounts to setting up your business entity and filing taxes.

Guest Bio:

Andrew Riesen is a mission-driven entrepreneur, financial accountant, and CEO of Heard, the financial back-office for therapists in private practice. Prior to Heard, Andrew worked at PWC, where he worked as a financial accountant, helped build an internal software incubator, and co-founded an affordable sales tax solution for small to medium-sized businesses. When not supporting mental health professionals in private practice, Andrew can be found exploring the nooks and crannies of the Pacific Northwest trail-running, cycling, or snowboarding, or at home with his nose in a book or journal.

About Heard:

Heard combines smart software with real humans to manage bookkeeping, taxes, and payroll for therapists. On average, Heard saves therapists 60 hours per year in financial record-keeping and $5,400 per year in taxes.

In this Episode:

• The value of speaking with a professional
• How to separate your personal self with your business self financially
• The different types of business entities and how to determine yours
• How Heard can help private practice therapists with bookkeeping, taxes, payroll and financial reporting
• Paying yourself and saving for taxes
• Planning for PTO and maternity leave
• Operating in multiple states

Highlights:

(0:36) – Guest introduction

(1:15) – Introduction of Heard

(2:50) – Navigating the different types of business entities

(10:35) – Planning for payroll while saving for taxes

(16:46) – Utilizing SimplePractice or TherapyNotes in conjunction with Heard

(20:08) – Operating in multiple states

(23:25) – The process of paying yourself

(29:11) – How to get started working with Heard

(32:06) – Kelley responds to listener's question about going back to an office space vs. telehealth after the pandemic

References:

Book your FREE Consultation Heard → https://www.joinheard.com/partners/kelley

Check out Heard's free Facebook group → https://m.facebook.com/groups/5348635868578291/?ref=share&mibextid=SDPelY

Get 2 months FREE with Simple Practice → https://partners.simplepractice.com/tppp

Ask Kelley Anything → (805) 243-8241

This podcast is produced and manged by Jenga Creative → jengacreative.com