Therapy For Your Money

By Julie Herres

Welcome to Therapy for your Money, a podcast about all things money and finance for private practice owners! If you are ready to feel confident and in-control of your financial life, then you are in t... more

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FAQs about Therapy For Your Money:

How many episodes does Therapy For Your Money have?

The podcast currently has 186 episodes available.

Therapy For Your Money episodes:

August 05, 2025OBBB: What does the new tax law mean for your private practice?
Special Episode: Navigating New 2025 Tax Laws for Therapy Practice Owners
In this special summer edition of 'Therapy for Your Money', host Julie Herres, owner of Green Oak Accounting, discusses important updates from the new tax bill that affect small business owners and private practice therapists. Julie provides a concise breakdown of business changes, personal tax updates, and some unique deductions that may have fine print, offering key insights and practical advice for therapy practice owners to stay informed and prepared. Key topics include maintaining the QBI deduction, the return of bonus depreciation, pass-through entity tax benefits, and adjustments to personal deductions like the SALT deduction and child tax credit. Julie emphasizes the importance of consulting with tax professionals to navigate these changes effectively.
Episode Highlights
00:00 Introduction to Therapy for Your Money
00:44 Special Edition: New Tax Law Overview
01:57 Context: Tax Changes Since 2017
03:46 Business Tax Updates
08:30 Personal Tax Updates
13:32 New Deductions with Caveats
23:00 Medicare and Medicaid Changes
25:23 Conclusion and Final Advice
Links and Resources
Free Guide: 7 Things Private Practice Owners Should Know about OBBB - https://www.greenoakaccounting.com/obbb
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
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
Get our free KPI tracker to see how you practice measures up to others in the industry!
www.therapyforyourmoney.com/kpi
...more
28min
May 30, 2025Episode 182: Quarterly recap with Jacquie
Therapist Finances in 2025: What’s Working, What’s Risky, and What to Watch
In 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 profits
When a new revenue stream is the right move (and when it’s just a shiny distraction)
If you’ve been wondering whether to grow, pivot, or hold steady—this episode is for you.

Highlights:
00:44 – Why private-pay practices are pivoting to insurance (and how to think about the tradeoff)
03:39 – Summer slowdown or summer surprise? How to plan for seasonal shifts
04:37 – Why marketing is becoming non-negotiable—and how to track your ROI
07:11 – “The math has to math”: The cost of people pleasing in your payroll strategy
08:52 – The truth behind that controversial Facebook ad about overpaying clinicians
10:20 – Is group practice really the path to passive income? (Spoiler: No.)
12:37 – Why chasing $1M revenue doesn’t always make sense
15:37 – What to do when you ignore professional advice—and how to recover
18:24 – Are you spending money to look successful instead of being profitable?
20:09 – One of the riskiest financial decisions Julie has ever seen a client make
25:01 – “You might be the problem”—the hard truth about self-sabotage in business
29:33 – Why “boring” financial advice often leads to long-term success
Links and Resources
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
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
Get our free KPI tracker to see how you practice measures up to others in the industry!
www.therapyforyourmoney.com/kpi
...more
34min
May 23, 2025 Episode 181: How the ultrarich avoid paying taxes
Understanding Tax Inequities: Why Billionaires Pay Less
In 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. This episode aims to educate listeners about these discrepancies and inspire more informed conversations around tax reform.
Show Highlights
00:00 Introduction to Therapy for Your Money
00:44 Why Do Billionaires Pay Less in Taxes?
03:18 Understanding the Buy, Borrow, Die Strategy
10:46 The Impact of Tax System on Small Business Owners
11:55 Estate Tax and Wealth Transfer
15:04 Conclusion and Final Thoughts
Resources
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
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
...more
17min
May 16, 2025Episode 180: Don’t Freak Out: Smart Money Moves in a Shaky Economy
Smart Money Moves for Therapists in a Shaky Economy
Feeling 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 reassurance.
Why listen:
Understand what market volatility really means.
Learn how to protect your business from revenue concentration risks.
Get proactive steps to ease anxiety and make grounded decisions.
Show Highlights:
01:45 – Why anxiety is rising and what’s really happening in the market
03:00 – Zooming out: what history tells us about bear markets and recovery
05:00 – Julie’s “set it and forget it” investing strategy
08:00 – Dollar-cost averaging explained—and why it works
09:30 – How to think like a CEO if you rely on Medicaid/Medicare
10:40 – Revenue concentration risk: what it is, and why it matters
11:30 – Using “fear-setting” to prepare without panicking
14:00 – The value of securing a line of credit before you need it
20:00 – The difference between tracking for action vs. emotional reassurance
22:00 – How missing a few big days in the market can hurt long-term returns
23:00 – Julie’s closing reminder
Closing Thought:
“If you’re feeling unsure, that’s okay. You don’t have to hustle harder, but you can plan smarter. You’ve got this—and I’m cheering you on.”
Links and Resources
Turning Point HQ – David Frank’s Financial Planning Services https://turningpointhq.com/
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
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
Get our free KPI tracker to see how you practice measures up to others in the industry!
www.therapyforyourmoney.com/kpi
...more
27min
May 09, 2025Episode 179: From Contractors to Employees — What Therapists Need to Know
Episode Summary
Thinking 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 is a must listen:
You’ll learn what to expect (including some hard truths) when you make the W-2 switch
You’ll understand how misalignment between your business model and operations can shrink your profit margin
You’ll get honest insight into what happens after the dust settles—and why Amy has no regrets
Episode Highlights
00:45 – Why this is one of the most requested topics among therapists
02:00 – Amy’s rapid growth—and early red flags
03:40 – The legal wake-up call: “This is a W-2 setup in disguise”
05:50 – Choosing alignment: why Amy shifted to employees
07:15 – Rolling it out: legal prep, communication, and transparency
08:30 – When kindness isn’t enough to avoid legal risk
10:00 – The emotional weight of leadership and unexpected team changes
11:50 – Over half the team left—what Amy learned through attrition
16:00 – Julie: “We can’t invest in growth if the numbers don’t work”
18:20 – “No one keeps their full fee”—a reality check for therapists
20:00 – Life after the storm: alignment, faith, and steady referrals
22:00 – Transition timelines: why 12+ months is realistic
23:00 – Julie and Amy: the sooner you decide, the smoother it goes
Resources
Wise Practice Consulting – Amy Dover's Bio & Services
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
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
Get our free KPI tracker to see how you practice measures up to others in the industry!
www.therapyforyourmoney.com/kpi
...more
26min
May 02, 2025Episode 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 hiring more clinicians but are worried about cash flow, you’ll learn how to budget and finance growth.
If you need a reliable client‑generation system, you’ll discover the metrics and processes to track.
If your office feels maxed out, you’ll get practical tips to squeeze more value from every square foot.
Highlights:
00:00 – Julie opens Therapy for Your Money and today’s growth topic
00:32 – Introducing Profit First for Therapists book
00:45 – The four pillars of fast scaling: Clinicians, Clients, Cash, Space
01:25 – Building recruiting systems and runway planning
03:19 – Why you must start hiring months before you need capacity
04:23 – Factoring team attrition into your hiring goals
05:00 – Budgeting for clinician recruitment ads (Indeed, LinkedIn, ZipRecruiter)
05:59 – Setting up client‑attraction systems (ads, referrals, tracking)
07:48 – Speed of response: converting inquiries in 24 hours
10:01 – Planning for a temporary profit dip during rapid growth
11:39 – Financing options: owner’s pay, lines of credit, loans
14:00 – Maximizing physical space: shifts, weekend hours, telehealth
15:46 – Knowing when to add locations or telehealth roles
16:53 – Integrating all systems for efficient, profitable expansion
17:46 – Key takeaways and next steps for scaling success
Need Help Growing:
Need a tailored growth plan? Visit Green Oak Accounting for free guides and tools. If you found this episode helpful, share it with a colleague or leave a review!
Links and Resources
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
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
...more
19min
April 25, 2025Episode 177 Beyond Therapy: Positioning Your Practice as a Supervision Hub for Growth
Adding Supervision to Your Therapy Practice for Financial Stability
In 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 insurance, setting up contracts, and potentially separating supervision services from the core practice for legal and business reasons. This episode provides valuable insights into expanding revenue streams by offering supervision, making it a must-listen for therapy practitioners looking to enhance financial security.
Show Highlights
00:00 Introduction to Therapy for Your Money
01:01 Meet Brittany Schank: Group Practice Owner
01:59 The Financial Benefits of Supervision
03:30 Setting Up Supervision Services
04:30 Determining Supervision Rates
06:44 Group Supervision: A Profitable Approach
10:38 Advertising and Finding Supervisees
12:09 Legal and Logistical Considerations
18:35 Final Thoughts and Resources
Links and Resources
Solace Directory: https://solacecodirectory.com/
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
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
...more
21min
April 18, 2025 Episode 176: What's the Balance? Frugal Spending vs. Investing in the Future
Budgeting vs. Investing: Smart Financial Decisions for Therapy Practice Owners
In 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 budget, dividing funds strategically, and continuously evaluating financial needs as your practice grows. Julie emphasizes the need for using accounting software and saving for taxes to ensure a financially healthy practice.
Show Highlights
00:00 Introduction to Therapy for Your Money
00:45 Deciding When to Spend or Save in Your Practice
01:57 Setting Up Your Startup Budget
03:32 Allocating Your Budget Wisely
09:22 Marketing and Growth Strategies
11:43 Managing Debt and Financial Caution
15:18 Final Tips and Resources
16:57 Disclaimer and Legal Information

Links and Resources
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
GreenOak Courses: https://www.greenoakaccounting.com/courses
Profit First Academy - www.ProfitFirstForTherapists.com/Academy
Podcast Production and Show Notes by Course Creation Studio
...more
17min
April 11, 2025Episode 175: Managing Online Course Revenue Alongside Your Private Practice
Adding 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 already selling, Julie offers grounded guidance to help you build a profitable and sustainable second stream of income.
Listen in to learn:
Why courses won’t fix a struggling practice—and what to do first
What legal and licensing implications to consider when launching a non-therapy offer
How to structure bank accounts using Profit First to track course income clearly
Episode Highlights
00:45 – Why a course isn’t the solution to a struggling practice
02:50 – How to evaluate whether your course should be part of your practice or a separate entity
04:15 – The potential risk of licensing board oversight for non-clinical offerings
05:40 – When it’s worth creating a separate LLC
06:50 – Using Profit First to allocate a start-up course budget
08:10 – Why separate bank accounts give you clarity and control
09:00 – Treating your course income like a solo practice inside a group model
10:00 – How to handle taxes, reinvestment, and owner’s pay for your course
12:00 – Final thoughts on making your course pay you back—not just take your time
Links and Resources
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
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
If this episode resonated with you, consider sharing it with a fellow clinician or checking out our free resources at GreenOak Accounting. Your financial clarity starts with a single step—and you don’t have to take it alone.
...more
13min
April 04, 2025 Episode 174: Mastering Insurance as a Revenue Stream
Optimizing Insurance for Therapy Practices with Jeremy Zug
In 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 processes. Jeremy introduces his new book as a resource for maximizing insurance revenue and offers practical advice for therapy practice owners.
Show Highlights
00:00 Introduction to Therapy for Your Money
00:44 Welcoming Jeremy Zug: Discussing Insurance
01:34 Why Take Insurance in Private Practice?
03:20 Navigating Insurance Reimbursement Rates
05:07 The Credentialing Process: Start Early
06:07 Hurdles in Accepting Insurance
09:11 Managing the Revenue Cycle
12:32 Insurance vs. Private Pay: Making the Decision
17:00 Practice Solutions: Maximizing Insurance Revenue
24:07 Conclusion and Final Thoughts
Links and Resources
Practice Solutions: https://www.practicesol.com/
Special Deal for Therapy For Your Money Listeners: https://www.practicesol.com/therapyforyourmoney
Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
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
Get our free KPI tracker to see how you practice measures up to others in the industry!
www.therapyforyourmoney.com/kpi
...more
26min

FAQs about Therapy For Your Money:

How many episodes does Therapy For Your Money have?

The podcast currently has 186 episodes available.

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