Navigating Partnerships in Private Therapy Practices

In 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 Highlights

• 00:00 Introduction to Therapy for Your Money
• 00:49 Today's Topic: Partnerships
• 01:26 Meet the Guests: Dan Mayer and Dave
• 01:31 Dan Mayer's Expertise in Mental Health Practices
• 02:36 Dave's Journey in Forming a Partnership
• 04:12 The Importance of Partnership Agreements
• 07:27 Key Elements of a Partnership Agreement
• 10:46 Legal and Tax Considerations
• 16:18 Dave's Experience and Advice on Partnerships
• 17:06 Navigating Partnership Agreements
• 18:20 Tax Challenges and Solutions
• 18:56 The 'Eat What You Kill' Model
• 19:30 Avoiding Partnership Conflicts
• 20:44 Handling Partner Exits and Deaths
• 24:05 Importance of Clear Rules and Roles
• 27:42 Final Thoughts on Partnerships
• 31:23 Where to Find Us

Links and Resources
Protecting Your Practice - https://www.protectingyourpractice.com/

GreenOak Accounting - www.GreenOakAccounting.com

Therapy For Your Money Podcast - www.TherapyForYourMoney.com

Profit First for Therapists - www.ProfitFirstForTherapists.com

Profit First Academy - www.ProfitFirstForTherapists.com/Academy

Podcast Production and Show Notes by Course Creation Studio

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