Hi friends! Whitney here — and today's Wise Practice episode is one every single practice owner needs in their back pocket. Whether you're brand-new to private practice or scaling into a thriving group, the same question always surfaces: "What should I actually pay myself?"

It sounds simple… until taxes, entity types, self-employment rules, "reasonable salary" requirements, and quarterly payments make your head spin. That's why I brought on someone who makes money talk feel human — Barry Roach Jr., enrolled agent and owner of Core Accounting & Consulting Group.

Barry has spent years helping therapists understand their numbers, strengthen their financial foundation, and navigate tax decisions with confidence. And in this episode, he breaks down:

✨ When (and when NOT) to elect S-Corp status
✨ What "reasonable salary" really means — no guesswork
✨ The mistake new practice owners make when paying themselves
✨ How to avoid a painful April tax bill
✨ The simple formula for deciding what to take home today

If you've ever wondered whether you're paying yourself too little, too much, or totally wrong… this episode will save you stress, money, and confusion.

Trust me — you're going to walk away feeling empowered and clear on your next steps.

Tune in now and finally get the answers you've been searching for.

02:42 The #1 question practice owners ask: "What should I pay myself?"
07:30 Sole prop vs. LLC vs. S-Corp
09:33 Ouch: the 43% tax reality check 😬
11:16 The S-Corp advantage (a.k.a. how to keep more of your money)
12:48 Paying yourself when your practice is tiny but mighty
14:34 When an S-Corp actually hurts you
16:00 Reasonable salary: the "many hats" method
19:37 The IRS wants its money… quarterly 😅
21:11 Safe harbor rules, in plain English
23:10 Partnerships + guaranteed payments

Barry's Resources

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Wise Practice Mastermind

In this episode of the Wise Practice Podcast, I sit down with Davia Ward — CEO and founder of Healthcare Partners Consulting & Billing — and one of the most mission-driven leaders I've ever met. With over 37 years of experience in healthcare, Davia has built a nationwide billing firm grounded in accuracy, compassion, and Christ-centered service. But what struck me most in our conversation wasn't just her expertise… it was her heart.

Davia shares her powerful personal journey from file clerk to registered nurse to founder of a thriving billing company that now employs and empowers women across the country — military wives, single moms, survivors, and those who simply needed someone to believe in their potential. Her story alone is worth listening to.

But this episode is also packed with practical, timely tools for insurance-based practice owners, especially as we head into the end of the year. Davia breaks down:

✨ What every practice owner needs to know about open enrollment
✨ How to communicate with patients about insurance changes (without stress)
✨ The biggest billing mistakes clinics make in December
✨ How to avoid claim rejections related to year-end transitions
✨ Why therapists must stop assuming what clients can or can't afford
✨ A powerful mindset shift around reimbursement, value, and leadership

Plus — Davia created an end-of-year billing SOP toolkit just for Wise Practice listeners. Yes, really.

This conversation is equal parts heart, wisdom, and highly actionable guidance. If you've ever felt overwhelmed by insurance billing, unsure how to navigate the year-end chaos, or simply needed encouragement from a strong Christian leader… this episode will bless you.

Tune in and learn how to streamline your billing, strengthen your leadership, and serve your clients well — one claim at a time.

03:10 Meet Davia Ward
04:18 Why She Created a Patient-First Billing Company
07:52 Empowering Women Through Hiring & Leadership
08:44 Integrating Faith Into Business & Service
10:38 What Practice Owners Must Know About Open Enrollment
11:57 Smart December Reminders to Prevent Claim Issues
13:29 Teaching Clients to Understand Their Benefits
14:53 Avoiding Year-End Claim Rejections
17:51 When Insurance Stops Paying: How to Have the Conversation
18:59 Stop Assuming What Clients Can Afford

Davia Ward's Resources

Website
Facebook
LinkedIn

Annual Patient Insurance Update Communication

Links and Resources

Looking for support and connection: Join the Wise Practice Community

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Wise Practice Mastermind

In this episode of the Wise Practice Podcast, I'm excited to welcome my dear friend and trusted colleague, Alison Pidgeon. Alison is the founder and CEO of Move Forward Counseling, a thriving multi-location practice in Pennsylvania with eight offices and more than 65 clinicians. I've had the joy of watching her grow from a single-location practice to a seven-figure business, and her insights on scaling are truly invaluable.

Before we dive in, I share a quick story about a long-running joke between us—our shared dream of owning hot tubs. Alison bought hers years ago; I kept putting it off. And then, in the most unexpected way, I ended up being gifted a blow-up baptism hot tub from our church. It felt like the perfect metaphor for business growth: sometimes the things we hesitate on finally come together in surprising ways.

Today, Alison and I talk about what practice owners often get wrong when scaling, how to hire and retain strong clinicians, when to invest in leadership, and why delegation is essential if you want to grow to seven figures without burning out.

If you're dreaming of a bigger practice—or wondering what sustainable scaling really looks like—you're going to love this conversation.

06:22 From One Location to Eight
07:48 Common Pitfalls When Scaling
10:17 What It Takes to Reach Seven Figures
11:57 When to Hire HR
14:41 Hiring Therapists Who Stay
17:33 Values-Based Hiring
18:09 The Power of Delegation
22:47 Investing Before You're Ready
23:29 Why Bigger Doesn't Mean More Work
24:48 Systems, Bonuses & Accountability
27:49 Building Connection Across Locations

Alison Pidgeon's Resources

Website
Facebook
Instagram
LinkedIn

Links and Resources

Looking for support and connection: Join the Wise Practice Community

Learn More about Wise Practice Consulting

Connect with Wise Practice on Instagram

Connect with Whitney Owens on Facebook

Check out all of the podcasts on the PsychCraft Network

Wise Practice Mastermind