Episode 179: From Contractors to Employees — What Therapists Need to Know Artwork

Therapy For Your Money

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 the right spot. Therapy for our Money is hosted by Julie Herres, the CEO and Founder of GreenOak Accounting. She and her firm specialize in working with private practice owners across the United States, and have assisted hundreds of private practices with increasing their financial stability and profitability. She is on a mission to share her best practices she's learned along the way through her successful career as an accountant, discusses financial topics with a wide variety of guests, and help her listeners make data driven decisions to help their businesses.

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Therapy For Your Money

Episode 179: From Contractors to Employees — What Therapists Need to Know

May 09, 2025

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

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