Ever found yourself sitting in therapy talking about business stress, hiring decisions, or cash flow problems? You’re not alone—but guess what? That time isn’t tax-deductible. In this episode, we break down the difference between using therapy to vent about work (which the IRS sees as a personal expense) versus hiring a business coach or financial advisor (which could be a legitimate business deduction).

In this episode of What the Finance, host Katrina Keller, CPA dives into the often-overlooked financial distinction between therapy and business coaching. Many entrepreneurs and business owners find themselves discussing business strategy in therapy, yet those sessions aren’t deductible expenses. However, hiring a business coach, financial advisor, or strategic consultant is a legitimate business expense. So, should you be venting about cash flow problems to your therapist or strategizing with a business consultant who can actually help you make more money?

With her signature humor and real-world experience, Katrina breaks down the financial and tax implications of each, helping you understand the importance of keeping your business expenses categorized correctly. She shares real client experiences, the financial impact of making the right choices, and why working with a business advisor can not only provide guidance but also save you money in the long run.

Key Takeaways:

• ​ Therapy ≠ Business Advice – While therapy is great for personal well-being, using it for business strategy means you’re paying for non-deductible expenses instead of investing in real financial solutions.
• ​ Business Coaching is Deductible – Hiring a qualified business coach, financial consultant, or strategic advisor can provide valuable insights and be written off as a business expense.
• ​ The Cost of Bad Advice – Many business owners waste time (and money) in therapy discussing work problems that could be solved by a financial professional.
• ​ Understanding Off-Balance Sheet Transactions – Katrina explains how missing transactions, loans, and hidden financial issues can impact your financial health.
• ​ Investors Care About Clean Records – Whether you’re seeking funding or just trying to stay compliant, working with a financial expert helps keep your books in order.

Stop overpaying for advice in the wrong place! Tune into this episode to learn how to maximize your business expenses and make smarter financial decisions. Visit LearnWTF.com for expert insights, business tools, and financial guidance designed to keep you out of trouble—and in profit!