Private Practice Business Entities with David

Starting a private practice involves somewhat of a learning curve, especially when it comes to business entities. David Frank, the founder of Turning Point Financial Life Planning, a business dedicated to helping therapists with their finances, made a guest appearance on the podcast to help answer your questions about business entities as they relate to mental health clinicians.

Here are a few pieces of advice from the episode:

• You want to find an attorney who asks questions about your particular situation. If you notice they’re generalizing and not really getting to know you, that’s a major red flag!

• It’s important to know the basics and work with an attorney who you trust. Laws are complex and may change and being an expert on business finances is NOT a necessity.

• The ideal scenario is hiring an attorney who specializes in working with mental health clinicians or, more generally, professionals currently licensed by the state government.

• Be involved with the big legal/financial decisions relating to your business. Check in regularly to ensure everything is going smoothly and know that mistakes are okay!

Ready to learn even more about business entities? Check out the full episode here:

P.S. On Wednesday, June 2nd, we’re hosting a free training with David on business entities. You’ll learn about the benefits of business entities, the types and which one could work best for your needs, S Corps and how they could save you money on taxes, and how to keep everything in good standing. Click here to learn more and sign up for the upcoming LIVE training!