April 3, 2025 • 32 mins
Get your step by step guide to private practice. Because you are too important to lose to not knowing the rules, going broke, burning out, and giving up. #counselorsdontquit.
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Episode Transcript
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Speaker 1 (00:45):
Thank you.
Hey, I'm Dr Kate Walker.
Welcome to your Tuesdaycoaching.
I see we've got people in thewaiting room, so let's let
everybody in.
All right, I think we've almostgot everybody, and I will keep
that open just so I can keeppulling people in.
And I will keep that open justso I can keep pulling people in.
(01:07):
And we've got meeting notesgoing on in the chat as well,
which is super fun because itremembers what I say.
So I love that.
All right.
So welcome to your Tuesdaycoaching.
I'm so glad you're here and isit is the season, right, is the
season to get our taxes goingand in order, and so I mean I do
(01:36):
this every year.
In some years I hire an expertto come in and talk to us.
So remember, as Step it Upmembers, you have access to a
great training in there, andit's by Dr Olivia Waddell.
In fact, she's done it for ustwo years in a row and those are
recorded and if you watch thoseand take the quiz, you can
actually get the ce for that.
It's one of it's part of yourunlimited ce.
So obviously, do the mostrecent one.
We keep the older courses inthere, because that's how you
(01:59):
keep your certificates, right?
Not everybody remembers todownload the certificate, so we
always keep the older courses inthere as well.
But I wanted to do things alittle bit differently, and this
is a members only thing.
I'm not even offering this toeverybody out there in the world
.
I want you guys to have anopportunity to ask questions and
remember, you don't have to askquestions about what I'm
(02:20):
presenting.
You can ask questions aboutanything.
We're going to offer a bunch ofstuff coming up here in 2025
for our Step it Up members, butI thought, well, you know what.
We need to stick to the scripttoday, because taxes are going
to come up upon us before weknow it.
But you know I love AI and youknow that I'm trying to get you
(02:42):
guys to love AI.
Not that I'm telling you how tofeel, but AI is just so doggone
handy and it's not like and Idon't want to say it Siri right
or Alexa right.
When those things get triggered, you never know what response
they're going to give.
And with what I've done, atleast in my research, there are
(03:03):
different AI platforms to choosefrom.
You don't have to do chat GPTthat's the one I'm going to be
using today and, of course, thedisclaimer is please do not make
AI, your accountant, doublecheck all of this.
I can spout rules, I can lookthings up, but you guys know
that's that's what I'm here forthe accountant's there to check
(03:23):
your taxes, your attorney'sthere to make sure you don't get
in trouble, all the thingsright.
So I'm going to keep ourwaiting room open.
I have our chat open and youguys know the deal If you unmute
while I'm recording, you willbe part of the recording.
So if you want to wait to theend, totally okay, and I will
keep an eye on the chat.
So I wrote down some questions,some common questions that I get
(03:48):
and that we see when we'restalking the social media
threads, and I'll just read themoff.
I'll read all of them off toyou and then I'm going to take
them one by one and then if youguys want to add to that in the
chat, great, we will tackle thatas well.
Great, we will tackle that aswell.
So obviously, the title of thisis what's a write-off?
So, yes, get asked that all thetime what's a write-off?
(04:15):
But I went ahead and kind ofdivided this into what is a
counseling practice write-offand what is a new business
write-off, like if you arestarting your private practice
this year and you're considereda new business, sometimes you
get extra stuff as yourwrite-off that you won't get
later on.
That is down the years.
So I put two things herecounseling write-off, new
(04:38):
business write-off and then onething a lot of folks don't
realize sometimes the standarddeduction is actually more
advantageous to you than writingoff expenses.
I mean, if you were a freelancemusician and everything you got
was 1099s for the year, yes,absolutely you're going to want
to write things off.
(04:59):
But I know most of the folks inmy audience you're not
freelancing out there, right,you are running your business,
you have other expenses, youhave a household, some of you
have partners that you're goingto file taxes with.
So I'm going to leave thisquestion here, because sometimes
we put in the headache foritemizing and at the end of the
(05:21):
year our accountant says, well,just do the standard deduction.
And you're like, oh, why did Ido all the work?
But that's a good thing.
And then organizing, let's see.
Oh, I know what I put here.
Okay, yeah.
So one of the things Dr Waddelltalks a lot about when you go
back, if you're going to dothose trainings which, again, I
(05:42):
highly recommend you do, themost recent one.
She is a huge advocate oforganizing I am as well, and she
uses a lot of paper.
I do not, and just so,recognize, if you don't have an
organizational system and youare a receipt keeper,
(06:07):
organizational system and youare a receipt keeper, okay, you
need to have an organization,organizational system right.
And some people, uh, they scanin receipts, they, they, you
know, take pictures with theirphone.
Whatever system you have, youhave to keep in mind what do I
keep?
What's important to keep forthe seven years or I believe
it's seven years what'simportant?
What's not important?
What can you throw away?
(06:27):
And you can ask me, but don'tdo as I do, because I just I'm I
Well, I'll talk about it when Iget to it.
All right.
And then, of course, peoplealways want to know the tax
advantages of your organization.
So, if you are a soleproprietor versus if you're an
LLC versus if you're an S-corp,now, everybody like those
(06:50):
questions.
Anything you want to throw intothe chat, we can.
But that's what I'm going tostart with.
And I'm pointing over herebecause I am going to ask
ChatGPT and so we are going tosee what Chat has to say about
these questions.
So and so we are going to seewhat chat has to say about these
questions.
So let's see if chatunderstands what a counseling
write-off is.
And one of the things aboutchat that I'm learning is, if
(07:13):
you ask it a couple of differentways, that's helpful, and you
guys are going to get the screenshare.
But if you are listening to meon a replay, don't worry,
because I always talk youthrough what I am sharing.
So let me make sure.
All right.
(07:33):
So if you are on the coachingcall, you now get to see my
screen.
So here I go.
I'm going to ask chat for 2024.
What are counseling write-offs?
Give at least 10 examples ormore samples or more.
(08:15):
And this we kind of knew, right.
And so not only is Chad givingus big categories, it's going to
give us subcategories.
So let me.
So we've got office space andutilities, we've got
professional liability insurance.
So that's your HPSO, your CHP,whatever it is, that you're
using Continuing education andlicensure memberships, office
(08:36):
supplies and equipment, ifyou're using scheduling software
, if you buy notebooks and pens,your telehealth and practice
management software, marketingand advertising, travel and
transportation, supervision andconsultation.
Now I'm going to ask chat todive in that a little bit deeper
(08:58):
, because if you get your ownpersonal therapy and it is
related to your business, so I'mnot going to give an answer.
Yet we're going to ask chat ina second Employee and
independent contractor costs.
So if you're contracting outwith someone, if you pay them as
a 1099 to do things likeorganize your stuff, write your
blogs, social media manager,retirement contributions and
(09:21):
health insurance Okay, now,these are huge.
And for example, with travel andtransportation, just because it
says it's a write-off doesn'tmean you get to write all of it
off, right?
Every year they'll tell you andit changes.
It depends on the economy.
Some years it's like, yeah,write it all off, everybody, get
(09:42):
out there and travel, let'sstimulate the economy.
And then sometimes it's like,whoa, you can only write off 10%
of all of it, right?
So as you are going throughyour expenses for the year,
you're going to see that they'repretty much the same.
They're either monthly expensesor annual expenses.
So if you're listening to myvoice and you're kind of
(10:03):
freaking out like, oh my gosh,I've got to go back and figure
out all these things, well,usually it's a monthly recurring
thing, so it's not difficult togo back and remember if you're
not doing this.
This is one of those moments.
I'm not going to go down therabbit hole.
But you should have a dedicatedbusiness banking account, right
(10:25):
?
So all you have to do is lookat those statements and you know
every single one of those isfor your business.
Or I have a dedicated businesscredit card that I pay off every
month so I can get points andgo fly around and do all the
stuff.
So let's dive into a little bitof the consultation, supervision
and consultation.
I'm going to highlight thatcopy and I'm going to ask chat,
(10:50):
when you say that is a write-off, does that include personal
therapy therapy, all right.
(11:10):
So there we go.
It is not a tax deductiblebusiness expense.
But if you're listening to myvoice and you're an LPC
associate or LMFT associate andyou pay for clinical supervision
, that is a write-off.
Business consultation, such ascoaching on private practice
growth, that is tax deductible.
So personal therapy for yourown well-being, even if it makes
(11:32):
you a better therapist andcouples or family therapy Now
again, I would talk to youraccountant about this, because I
have seen that both ways.
But I hope all of you listeningto me and watching me now have a
great list of things that youcan at least go check and see
(11:54):
that those are write-offs.
And remember what the promptwas.
I asked what are counselingwrite-offs?
Okay, and Step it Up, members.
You're going to get this as areplay so you'll be able to stop
and go back.
You don't have to takescreenshots or anything like
that.
You'll be able to see this list.
Now I'm going to go to mysecond question.
(12:14):
Now I'm going to go to mysecond question.
(12:45):
Compare counseling write-offwith a new business write-off.
My first year of business,owning a practice, what can I
write off?
And while it's churning thatout, remember a write-off.
And I always think of thatSchitt's Creek episode where
he's talking to his dad aboutall the things he's bought.
He said it's a write-off, it'sa write-off.
And he's bought lamps, he'sbought rugs, he's bought all of
these things.
And his dad's just laughing athim, going what do you think a
write-off is?
Remember, a write-off lowersyour profit, right?
(13:09):
So if your business makes aprofit or if your household
makes a certain amount, yourwrite-off it's like a minus sign
.
You get to subtract that EHR,you get to subtract that
consultation.
So it's a math equation Awrite-off is a minus sign and it
makes your income or yourprofit lower and that means
(13:32):
hopefully you'll pay less taxes.
All right, oh goodness, look,chatgpt made me a chart.
Oh, that's cool.
So if you're in your first yearof business running a private
practice, you get access to bothstandard counseling write-offs
and additional new businessstartup deductions.
All right, so you can see,comparing here, same things
(13:56):
office and rent, office supplies, software and tech,
professional liability insurance, ceus and license fees.
And that can include yourmemberships to things like ACA,
marketing and website costs,supervision and consultation.
Now you'll see this isdifferent.
(14:17):
So legal and business formationfees that's not going to be an
ongoing write-off.
That's going to be a write-offyour first year.
And then pre-launch expenses upto $5,000.
You're going to want to checkthat with your accountant,
verify that up to $5,000.
I mean, imagine're going towant to check that with your
accountant, verify that up to$5,000.
I mean, imagine that.
(14:39):
I've always said starting acounseling practice is the
cheapest thing on the planet.
You either just need a webcamand a cell phone plan or an
internet plan, or you need torent one day in an office and
get a used couch and you knowsome a computer right.
So up to $5,000, that's huge.
But you can only do that afterup to your launch.
(15:03):
Once you've launched, you can't.
I'm gonna get a new couch andI'm gonna get a new computer
right Again, the computer, maybe, the couch, probably not.
First year business expenses upto over $5,000.
So that can be deductible as acounseling.
But amortized again, talk toyour accountant that just means
they take that expense and theychop it up into pieces.
(15:25):
So it makes more sense.
New equipment and businesscoaching or consulting.
So it's important to understand.
As a counselor, you get one set,right, you're a counseling
practice owner and or maybeyou're a counseling 1099, right,
if you're an independentcontractor, if you're an LPC
(15:46):
associate listen into the soundof my voice an LMFT associate,
and you are a 1099 contractorsomewhere.
Right, that's your business.
That's basically you runningyour business.
So talk to your accountantabout these counseling
write-offs and new businesswrite-offs.
I mean, who knows?
Right, it's interesting to mebecause I always love following
(16:11):
the 1099 versus W-2 argument.
Right, so if you are classifieda 1099 everywhere you go, you
might be entitled to some morewrite-offs.
All right, I'm going to now move.
Oh well, chatgpt, look at howhandy you are.
You're going to actually tellme the key differences for
(16:33):
first-year business owners andit goes through each one of
those things on the chart.
So, startup cost deductions,amortization of additional costs
over 5,000, home officedeductions and that's about if,
for instance, for me, I have ahome office, there is no bed in
this office, it is truly anoffice, and so that's a
(16:56):
write-off, that's a dedicatedbusiness expense.
New equipment deductions that'sif I need a new computer later
on.
And legal and professional fees.
All right, I see a question inthe chat.
When you pay estimated quarterlytaxes, is it acceptable
practice to deduct youranticipated write-offs from your
(17:18):
quarterly revenue before makingyour estimate, rather than
paying X amount on the entirerevenue?
Pay on your net instead of yourgross, yeah, and then when you
pay estimated quarter lease,does the IRS send you a form at
the end of the year stating howmuch you paid for reference?
So the first one I meandefinitely ask your accountant
(17:38):
about that.
I do not, because my accountantgives me a number and he says
pay this amount and pay it ontime, and that's because he
knows my projected net for theyear, for the following year.
So I'm trusting him to give methat projected net based on what
(17:58):
I'm making.
So that's what my quarterliesare.
They're already based on my net.
They're not going to be basedon my gross.
They're already based with allthe write-offs taken out,
because it's something.
Now, if you're a new businessowner and you don't have that
previous history, it's going tobe a little bit of a crapshoot
for you.
But again, with you and youraccountant working together,
(18:20):
you'll project the net and thatwill be your quarterly taxes.
Second question when you payestimated quarterly taxes, does
the IRS send you a form at theend of the year?
Not in my experience.
And you can access thatinformation by going to the
(18:41):
irsgov website.
I do that, so you know it's.
In fact my accountant has melog into the irsgov website.
I guess you know he can take myword for it.
Yes, I promise I made myquarterly taxes, unless you
listen to the episode that Irecorded I don't know about
three months ago about moneymistakes and I thought I had
(19:01):
written a check for $14,000 tothe government and I did not.
Just, you know one of thosethings.
I did it with my inside voiceinstead of with my check writing
hand.
So it's always good to go tothat irsgov and it will show you
the estimated payments that youhave made and when you get to
(19:21):
the end of the year you'rebasically your accountant is
going to say did you make themand did you make them on time.
So I hope that helps.
Good, all right.
And then the biggest takeawayChatGPT says in your first year
of business, you can write offstartup expenses plus standard
counseling deductions,maximizing your tax savings.
(19:41):
Would I like help?
It always asks at the end if Iwant help, probably, All right.
I'm going to go ahead and go onto my next question, which is
standard deductions versusitemizing, and I'm just going to
make it super general what isbetter?
It's hard to type and talk.
(20:02):
I found, okay, what is better?
Itemized deduct?
Oh, my goodness, deduct T-I-O-Nor standard, d-d-u-c-t-i-o-n or
standard, okay.
And for those of you listeningto me, you're not sure what a
(20:23):
standard deduction is, that'sGoogle that Every year the
government sets what a standarddeduction is, which is just a
blanket amount that a householdcan deduct because of certain
things, whether it's the numberof people in their house, the
number of kids in the house orthe number of just household
(20:44):
expenses, child care expenses,etc.
Etc.
So let's see what ChatGPT saysStandard deduction versus
itemized deduction.
Which is better?
It depends on how much you candeduct based on your expenses.
So, standard deduction this isa flat deduction amount set by
the IRS and it gives us that.
I'm assuming, since I askedinitially, this is for 2024,.
(21:08):
Single married filing separately$14,600.
Married filing jointly $29,200.
Head of household $21,900.
So this is best for, accordingto chat, people who don't have
enough deductions to exceed thestandard amount.
It's simpler no need to trackreceipts for deductions.
(21:29):
So if you know right now youritemized list of all the things
is less than, let's say, if youare married, filing jointly less
than $29,200.
You might have that itemizedstuff just kind of there, but
you won't actually use that.
(21:50):
Your accountant may advise you.
Hey, you really are better offif you take the standard
deduction, right.
You want to take the biggeramount right, because remember,
it's a minus sign we're tryingto subtract this amount from
your total household income oryour business income, so you pay
less taxes.
So, number two, itemizeddeductions Instead of taking the
(22:11):
flat, you list out specificexpenses.
Itemized deductions instead oftaking the flat, you list out
specific expenses.
And this is where it gets alittle bit more into what you're
allowed to take the max.
And then it says this is bestfor people who have high
(22:31):
deductible expenses.
So you're spending a lot ofmoney on your business, right?
If you know you are spending alot of money on your business,
then it might be better toitemize everything.
So what is better for you as aprivate practice owner?
Take the standard deduction.
If your total personaldeductions don't exceed the IRS
limit and most people fall intothat category itemize.
(22:53):
If you have big deductions,such as high medical expenses,
large mortgage interest,significant state and local
taxes, large charitabledonations, business owner and
self-employed, then it's goingto get into how you file.
Your business deductions are notitemized.
They go on Schedule C andthey're separate from personal
(23:16):
deductions.
I'll talk about that in asecond.
Most private practice ownerstake the standard deduction
while still maximizing businesswrite-offs on Schedule C.
What is a Schedule C?
When you itemize or when yousubmit your taxes, and those are
(23:47):
additional write-offs you getas a business owner.
And so when I'm going to goahead and skip the question,
what should I keep or toss, andlet's go ahead and see exactly
what are the tax advantages ofbeing a sole proprietor I knew
(24:19):
that was going to be wrong.
I got to spell check that one.
I told y'all there are likefour words that I will never be
able to spell and I think that'sone of them Sole proprietor,
llc.
And I know in Texas you must bea PLLC if you hold a license.
But just for the sake of chat,I'm just calling it an LLC for
(24:40):
now.
Or an S Corp, all right.
And so when people ask in thesocial media world, should I be
an LLC, should I be an S-corp?
And that's why most of the timeI respond it depends.
(25:02):
Do you need the tax advantagesafforded by this particular
structure?
Afforded by this particularstructure?
So tax advantages if you are ofa sole proprietor, versus LLC,
versus S Corp.
So if you're a single ownerbusiness, it's easy, it's a.
It just the money becomes partof your money.
(25:25):
It's called a pass through.
All business deductions applythrough.
All business deductions apply.
Downside it saysself-employment tax is owed on
all profits.
No liability protection, bestfor solo practice.
So what does that mean there?
No liability protection.
Y'all have malpracticeinsurance.
(25:45):
You are protected.
To a point Also, if in moststates listening to the sound of
my voice your primary house,place of residence and certain
assets are protected in case ofa lawsuit, et cetera, et cetera.
Llc is a way to protect yourassets from your business and or
(26:10):
protect other businesses youown from each other.
So if you have severalbusinesses and you set up
several LLCs, the idea is it'slike unruly kids you're just
wanting to make sure if one getsin a fight it doesn't mess up
the other one.
Mess up the other one, right?
(26:35):
So that's the liability piece.
Now LLC, the limited liabilitycompany.
Again.
If you're a license holder,that's put a P in front of that
Tax advantages.
You have some limited liabilityprotection, pass-through
taxation, just like with oursole proprietor, right.
Your business profits that isincluded in yours.
You don't have to do a big,complicated tax return.
Can choose to become an S-corplater, all business write-off
(27:00):
supply Downside.
You still pay the fullself-employment tax and LLC fees
vary state by state.
That's annual reports,franchise taxes, et cetera.
And Texas just changed theirfranchise taxing thing and it's
weird.
I just got a notification theywanted me to file my franchise,
(27:25):
which is always zero for me.
But anyway, if you live inTexas, go to the Comptroller
account Comptroller website andsee if you're curious about your
franchise tax.
Llc is best for private practiceowners who want liability
protection but don't yet needS-corp tax savings.
(27:48):
So again, if you're out thereand you're listening to me and
you're just, oh, should I becomean LLC?
Should I become an LLC?
Ask yourself what are the taxadvantages and what am I trying
to protect and why, all right.
Last thing S-Corp.
Now this has the biggest taxadvantage, but it depends on how
(28:12):
much profit or income you make.
So pass-through taxation nocorporate tax can reduce the
self-employment tax by thousands.
All business right off supplyDownside.
The IRS takes a look at you alittle bit harder, more
administrative work and there'spayroll and accounting costs.
(28:33):
So it's important if you decideto do an S-Corp, you have an
accountant.
But in my opinion, unless anaccountant tells you to become
an S-Corp, I wouldn't just outof the blue say I want to be an
S-Corp today.
Ask the question why?
Because the LLC gives you thatlimited liability protection.
See what the S-Corp will do foryou.
(28:56):
That's different.
It's best for private practiceowners making $75,000 plus in
net profit that's not just takehome, that's just not the cash
running through your practice.
That's after write-offs, thatis profit and those wanting to
reduce self-employment taxes.
(29:16):
So which business structure isbest If you're just starting out
, sole proprietor or LLC, if youwant or need the liability
protection, want or need theliability protection LLC, if you
make 75K more in profit S-Corp,and then it goes on to tell you
(29:39):
how much you can save with theS-Corp, again only if you have a
Buku profit, all right.
Going back to the what should Ikeep or toss question, it's
really it's up to you, right,and I want you and I'm up
against time, so I wanna open itup to your questions.
Talk to your accountant.
I mean, I rely on electronicrecords and if anybody else is
(30:03):
listening to this and they'relike Kate, don't do that, you
need to have paper.
I totally respect that.
Again, what I try to do is touse one bank, one credit card
for all of those expenses.
So you know that's.
There is a paper trail if I hitprint.
Not everybody's comfortablewith that.
So, again, this was thispresentation is all about
(30:25):
getting you ready for taxes.
I'm going to hit the recordbutton, which means I'm going to
turn it off and open it up forquestions.
All right, do y'all have anyquestions or do you have any
comments?
Do you have any advice?
Anything that you're doing thatwe might benefit from doing
(30:59):
that we might benefit from.
Rosa says can I get moreclarity?
Pllc versus LLC, especially ifwe are providing therapy,
consulting, presentation,workbooks can it all be under
one umbrella or do I need toseparate them?
Great question, and I'm goingto give you the rule and then
I'm going to give you my opinion.
So PLLC is a rule in Texas ifyou are offering services under
(31:19):
your license and if you are alsooffering workbooks and things
that are non-clinical, that's aquestion for your attorney.
So for me, when I first openedmy counseling practice, I also
offered non-clinical servicesand so I did not organize as a P
(31:41):
, but that was like 20 years ago.
I really recommend talking toan attorney who understands okay
, I'm offering these multiplethings, which holds more weight,
right, if I'm?
It's like I've always wonderedokay, so if you offer any like
one single clinical service,does that mean okay, you got to
do the P for everything, likeit's got to be a P.
(32:04):
Or if you offer non-clinicalstuff, does that offset all the
P?
Or non-clinical stuff, doesthat offset all the P?
So that's part of my answer,rosa.
The second part is it depends onthe impact these different
businesses will have.
I think somebody actually askedthat this morning and I think
(32:24):
it was in the Texas SupervisorCoalition.
They were just starting theirsupervision practice and they
said do I need an LLC?
And I didn't type anything inthe response.
But I'll tell you my thoughtshere.
Remember what I said earlierabout protecting a business from
each other, two businesses fromeach other.
You know, if you're concernedthat your counseling practice
(32:46):
could negatively impact yoursupervision practice or vice
versa and I don't know what kindof clientele you do, I don't
know what kind of supervisingyou do, what your specialties
are that would be the reason forme that you would separate them
.
That's one.
The second reason to separatethem is for marketing clarity,
(33:07):
branding clarity.
You know we all think about ArmHammer.
You know baking soda, right?
Well, if Arm Hammer startedselling magazines and they were
going to brand it as Arm Hammermagazines, right, it would be
confusing, like it's okay, areyou a magazine company or are
you still selling baking soda?
So that, for me, is one issue,and it's a pretty big one for
(33:29):
SEO and making sure the rightpeople are finding you and that
Google is delivering you to thepeople who are searching for the
right service.
So those are three things toconsider when you're thinking
about doing a PLLC, llc or justdividing things all together.
All right, kathy wants to know.
I get stuck not knowing whichcategory specific things go in
(33:52):
and end up with everything in amiscellaneous category.
I get that, but I think I willask chat GPT Yay, I'm so glad.
Yeah, when my my firstaccountant, he kind of warned me
.
He's like, if you ever come tome with miscellaneous expenses,
I will send you home.
And so I was like, oh, itscared me.
So I use a lot of advertisingand marketing category, I use a
(34:20):
lot of software category.
So those two those are hugeones for me.
And when you think marketing,it's got to be reasonable, right
.
Like, if I take a trip tosomewhere and I'm going to do an
Instagram post or I'm going todo a presentation from there,
right, I can't say like thewhole trip was for that purpose,
(34:41):
right?
So that's part of the marketingthing.
You want to make sure you'vegot a savvy accountant, somebody
who's up to date with currentmarketing strategies, and not
someone who's like, well, Idon't like that internet thing
and you know I don't do thatsocial media, right, if you're
using social media andtechnology for your marketing,
get an accountant whounderstands that I can't
(35:04):
emphasize that enough and ask AIGreat questions.
What else All right?
Well, if you have any othercomments or questions, y'all.
And if you are on Facebook,don't forget to tag me.
(35:26):
Tag me and ask me questions.
I don't generally see it unlessyou tag me, because I'm looking
at all kinds of things inFacebook.
You know, stalking thosethreads.
So please, please, tag me ifyou have questions about today.
And thank you all for coming.
I'm so glad you're here and Ihope you got something out of it
.
I hope you have a wonderful dayand I will see y'all soon.
(35:46):
Bye.
Thank you.
Hey, I'm Dr Kate Walker.
Welcome to your Tuesdaycoaching.
I see we've got people in thewaiting room, so let's let
everybody in.
All right, I think we've almostgot everybody, and I will keep
that open just so I can keeppulling people in.
And I will keep that open justso I can keep pulling people in.
(01:07):
And we've got meeting notesgoing on in the chat as well,
which is super fun because itremembers what I say.
So I love that.
All right.
So welcome to your Tuesdaycoaching.
I'm so glad you're here and isit is the season, right, is the
season to get our taxes goingand in order, and so I mean I do
(01:36):
this every year.
In some years I hire an expertto come in and talk to us.
So remember, as Step it Upmembers, you have access to a
great training in there, andit's by Dr Olivia Waddell.
In fact, she's done it for ustwo years in a row and those are
recorded and if you watch thoseand take the quiz, you can
actually get the ce for that.
It's one of it's part of yourunlimited ce.
So obviously, do the mostrecent one.
We keep the older courses inthere, because that's how you
(01:59):
keep your certificates, right?
Not everybody remembers todownload the certificate, so we
always keep the older courses inthere as well.
But I wanted to do things alittle bit differently, and this
is a members only thing.
I'm not even offering this toeverybody out there in the world
.
I want you guys to have anopportunity to ask questions and
remember, you don't have to askquestions about what I'm
(02:20):
presenting.
You can ask questions aboutanything.
We're going to offer a bunch ofstuff coming up here in 2025
for our Step it Up members, butI thought, well, you know what.
We need to stick to the scripttoday, because taxes are going
to come up upon us before weknow it.
But you know I love AI and youknow that I'm trying to get you
(02:42):
guys to love AI.
Not that I'm telling you how tofeel, but AI is just so doggone
handy and it's not like and Idon't want to say it Siri right
or Alexa right.
When those things get triggered, you never know what response
they're going to give.
And with what I've done, atleast in my research, there are
(03:03):
different AI platforms to choosefrom.
You don't have to do chat GPTthat's the one I'm going to be
using today and, of course, thedisclaimer is please do not make
AI, your accountant, doublecheck all of this.
I can spout rules, I can lookthings up, but you guys know
that's that's what I'm here forthe accountant's there to check
(03:23):
your taxes, your attorney'sthere to make sure you don't get
in trouble, all the thingsright.
So I'm going to keep ourwaiting room open.
I have our chat open and youguys know the deal If you unmute
while I'm recording, you willbe part of the recording.
So if you want to wait to theend, totally okay, and I will
keep an eye on the chat.
So I wrote down some questions,some common questions that I get
(03:48):
and that we see when we'restalking the social media
threads, and I'll just read themoff.
I'll read all of them off toyou and then I'm going to take
them one by one and then if youguys want to add to that in the
chat, great, we will tackle thatas well.
Great, we will tackle that aswell.
So obviously, the title of thisis what's a write-off?
So, yes, get asked that all thetime what's a write-off?
(04:15):
But I went ahead and kind ofdivided this into what is a
counseling practice write-offand what is a new business
write-off, like if you arestarting your private practice
this year and you're considereda new business, sometimes you
get extra stuff as yourwrite-off that you won't get
later on.
That is down the years.
So I put two things herecounseling write-off, new
(04:38):
business write-off and then onething a lot of folks don't
realize sometimes the standarddeduction is actually more
advantageous to you than writingoff expenses.
I mean, if you were a freelancemusician and everything you got
was 1099s for the year, yes,absolutely you're going to want
to write things off.
(04:59):
But I know most of the folks inmy audience you're not
freelancing out there, right,you are running your business,
you have other expenses, youhave a household, some of you
have partners that you're goingto file taxes with.
So I'm going to leave thisquestion here, because sometimes
we put in the headache foritemizing and at the end of the
(05:21):
year our accountant says, well,just do the standard deduction.
And you're like, oh, why did Ido all the work?
But that's a good thing.
And then organizing, let's see.
Oh, I know what I put here.
Okay, yeah.
So one of the things Dr Waddelltalks a lot about when you go
back, if you're going to dothose trainings which, again, I
(05:42):
highly recommend you do, themost recent one.
She is a huge advocate oforganizing I am as well, and she
uses a lot of paper.
I do not, and just so,recognize, if you don't have an
organizational system and youare a receipt keeper,
(06:07):
organizational system and youare a receipt keeper, okay, you
need to have an organization,organizational system right.
And some people, uh, they scanin receipts, they, they, you
know, take pictures with theirphone.
Whatever system you have, youhave to keep in mind what do I
keep?
What's important to keep forthe seven years or I believe
it's seven years what'simportant?
What's not important?
What can you throw away?
(06:27):
And you can ask me, but don'tdo as I do, because I just I'm I
Well, I'll talk about it when Iget to it.
All right.
And then, of course, peoplealways want to know the tax
advantages of your organization.
So, if you are a soleproprietor versus if you're an
LLC versus if you're an S-corp,now, everybody like those
(06:50):
questions.
Anything you want to throw intothe chat, we can.
But that's what I'm going tostart with.
And I'm pointing over herebecause I am going to ask
ChatGPT and so we are going tosee what Chat has to say about
these questions.
So and so we are going to seewhat chat has to say about these
questions.
So let's see if chatunderstands what a counseling
write-off is.
And one of the things aboutchat that I'm learning is, if
(07:13):
you ask it a couple of differentways, that's helpful, and you
guys are going to get the screenshare.
But if you are listening to meon a replay, don't worry,
because I always talk youthrough what I am sharing.
So let me make sure.
All right.
(07:33):
So if you are on the coachingcall, you now get to see my
screen.
So here I go.
I'm going to ask chat for 2024.
What are counseling write-offs?
Give at least 10 examples ormore samples or more.
(08:15):
And this we kind of knew, right.
And so not only is Chad givingus big categories, it's going to
give us subcategories.
So let me.
So we've got office space andutilities, we've got
professional liability insurance.
So that's your HPSO, your CHP,whatever it is, that you're
using Continuing education andlicensure memberships, office
(08:36):
supplies and equipment, ifyou're using scheduling software
, if you buy notebooks and pens,your telehealth and practice
management software, marketingand advertising, travel and
transportation, supervision andconsultation.
Now I'm going to ask chat todive in that a little bit deeper
(08:58):
, because if you get your ownpersonal therapy and it is
related to your business, so I'mnot going to give an answer.
Yet we're going to ask chat ina second Employee and
independent contractor costs.
So if you're contracting outwith someone, if you pay them as
a 1099 to do things likeorganize your stuff, write your
blogs, social media manager,retirement contributions and
(09:21):
health insurance Okay, now,these are huge.
And for example, with travel andtransportation, just because it
says it's a write-off doesn'tmean you get to write all of it
off, right?
Every year they'll tell you andit changes.
It depends on the economy.
Some years it's like, yeah,write it all off, everybody, get
(09:42):
out there and travel, let'sstimulate the economy.
And then sometimes it's like,whoa, you can only write off 10%
of all of it, right?
So as you are going throughyour expenses for the year,
you're going to see that they'repretty much the same.
They're either monthly expensesor annual expenses.
So if you're listening to myvoice and you're kind of
(10:03):
freaking out like, oh my gosh,I've got to go back and figure
out all these things, well,usually it's a monthly recurring
thing, so it's not difficult togo back and remember if you're
not doing this.
This is one of those moments.
I'm not going to go down therabbit hole.
But you should have a dedicatedbusiness banking account, right
(10:25):
?
So all you have to do is lookat those statements and you know
every single one of those isfor your business.
Or I have a dedicated businesscredit card that I pay off every
month so I can get points andgo fly around and do all the
stuff.
So let's dive into a little bitof the consultation, supervision
and consultation.
I'm going to highlight thatcopy and I'm going to ask chat,
(10:50):
when you say that is a write-off, does that include personal
therapy therapy, all right.
(11:10):
So there we go.
It is not a tax deductiblebusiness expense.
But if you're listening to myvoice and you're an LPC
associate or LMFT associate andyou pay for clinical supervision
, that is a write-off.
Business consultation, such ascoaching on private practice
growth, that is tax deductible.
So personal therapy for yourown well-being, even if it makes
(11:32):
you a better therapist andcouples or family therapy Now
again, I would talk to youraccountant about this, because I
have seen that both ways.
But I hope all of you listeningto me and watching me now have a
great list of things that youcan at least go check and see
(11:54):
that those are write-offs.
And remember what the promptwas.
I asked what are counselingwrite-offs?
Okay, and Step it Up, members.
You're going to get this as areplay so you'll be able to stop
and go back.
You don't have to takescreenshots or anything like
that.
You'll be able to see this list.
Now I'm going to go to mysecond question.
(12:14):
Now I'm going to go to mysecond question.
(12:45):
Compare counseling write-offwith a new business write-off.
My first year of business,owning a practice, what can I
write off?
And while it's churning thatout, remember a write-off.
And I always think of thatSchitt's Creek episode where
he's talking to his dad aboutall the things he's bought.
He said it's a write-off, it'sa write-off.
And he's bought lamps, he'sbought rugs, he's bought all of
these things.
And his dad's just laughing athim, going what do you think a
write-off is?
Remember, a write-off lowersyour profit, right?
(13:09):
So if your business makes aprofit or if your household
makes a certain amount, yourwrite-off it's like a minus sign
.
You get to subtract that EHR,you get to subtract that
consultation.
So it's a math equation Awrite-off is a minus sign and it
makes your income or yourprofit lower and that means
(13:32):
hopefully you'll pay less taxes.
All right, oh goodness, look,chatgpt made me a chart.
Oh, that's cool.
So if you're in your first yearof business running a private
practice, you get access to bothstandard counseling write-offs
and additional new businessstartup deductions.
All right, so you can see,comparing here, same things
(13:56):
office and rent, office supplies, software and tech,
professional liability insurance, ceus and license fees.
And that can include yourmemberships to things like ACA,
marketing and website costs,supervision and consultation.
Now you'll see this isdifferent.
(14:17):
So legal and business formationfees that's not going to be an
ongoing write-off.
That's going to be a write-offyour first year.
And then pre-launch expenses upto $5,000.
You're going to want to checkthat with your accountant,
verify that up to $5,000.
I mean, imagine're going towant to check that with your
accountant, verify that up to$5,000.
I mean, imagine that.
(14:39):
I've always said starting acounseling practice is the
cheapest thing on the planet.
You either just need a webcamand a cell phone plan or an
internet plan, or you need torent one day in an office and
get a used couch and you knowsome a computer right.
So up to $5,000, that's huge.
But you can only do that afterup to your launch.
(15:03):
Once you've launched, you can't.
I'm gonna get a new couch andI'm gonna get a new computer
right Again, the computer, maybe, the couch, probably not.
First year business expenses upto over $5,000.
So that can be deductible as acounseling.
But amortized again, talk toyour accountant that just means
they take that expense and theychop it up into pieces.
(15:25):
So it makes more sense.
New equipment and businesscoaching or consulting.
So it's important to understand.
As a counselor, you get one set,right, you're a counseling
practice owner and or maybeyou're a counseling 1099, right,
if you're an independentcontractor, if you're an LPC
(15:46):
associate listen into the soundof my voice an LMFT associate,
and you are a 1099 contractorsomewhere.
Right, that's your business.
That's basically you runningyour business.
So talk to your accountantabout these counseling
write-offs and new businesswrite-offs.
I mean, who knows?
Right, it's interesting to mebecause I always love following
(16:11):
the 1099 versus W-2 argument.
Right, so if you are classifieda 1099 everywhere you go, you
might be entitled to some morewrite-offs.
All right, I'm going to now move.
Oh well, chatgpt, look at howhandy you are.
You're going to actually tellme the key differences for
(16:33):
first-year business owners andit goes through each one of
those things on the chart.
So, startup cost deductions,amortization of additional costs
over 5,000, home officedeductions and that's about if,
for instance, for me, I have ahome office, there is no bed in
this office, it is truly anoffice, and so that's a
(16:56):
write-off, that's a dedicatedbusiness expense.
New equipment deductions that'sif I need a new computer later
on.
And legal and professional fees.
All right, I see a question inthe chat.
When you pay estimated quarterlytaxes, is it acceptable
practice to deduct youranticipated write-offs from your
(17:18):
quarterly revenue before makingyour estimate, rather than
paying X amount on the entirerevenue?
Pay on your net instead of yourgross, yeah, and then when you
pay estimated quarter lease,does the IRS send you a form at
the end of the year stating howmuch you paid for reference?
So the first one I meandefinitely ask your accountant
(17:38):
about that.
I do not, because my accountantgives me a number and he says
pay this amount and pay it ontime, and that's because he
knows my projected net for theyear, for the following year.
So I'm trusting him to give methat projected net based on what
(17:58):
I'm making.
So that's what my quarterliesare.
They're already based on my net.
They're not going to be basedon my gross.
They're already based with allthe write-offs taken out,
because it's something.
Now, if you're a new businessowner and you don't have that
previous history, it's going tobe a little bit of a crapshoot
for you.
But again, with you and youraccountant working together,
(18:20):
you'll project the net and thatwill be your quarterly taxes.
Second question when you payestimated quarterly taxes, does
the IRS send you a form at theend of the year?
Not in my experience.
And you can access thatinformation by going to the
(18:41):
irsgov website.
I do that, so you know it's.
In fact my accountant has melog into the irsgov website.
I guess you know he can take myword for it.
Yes, I promise I made myquarterly taxes, unless you
listen to the episode that Irecorded I don't know about
three months ago about moneymistakes and I thought I had
(19:01):
written a check for $14,000 tothe government and I did not.
Just, you know one of thosethings.
I did it with my inside voiceinstead of with my check writing
hand.
So it's always good to go tothat irsgov and it will show you
the estimated payments that youhave made and when you get to
(19:21):
the end of the year you'rebasically your accountant is
going to say did you make themand did you make them on time.
So I hope that helps.
Good, all right.
And then the biggest takeawayChatGPT says in your first year
of business, you can write offstartup expenses plus standard
counseling deductions,maximizing your tax savings.
(19:41):
Would I like help?
It always asks at the end if Iwant help, probably, All right.
I'm going to go ahead and go onto my next question, which is
standard deductions versusitemizing, and I'm just going to
make it super general what isbetter?
It's hard to type and talk.
(20:02):
I found, okay, what is better?
Itemized deduct?
Oh, my goodness, deduct T-I-O-Nor standard, d-d-u-c-t-i-o-n or
standard, okay.
And for those of you listeningto me, you're not sure what a
(20:23):
standard deduction is, that'sGoogle that Every year the
government sets what a standarddeduction is, which is just a
blanket amount that a householdcan deduct because of certain
things, whether it's the numberof people in their house, the
number of kids in the house orthe number of just household
(20:44):
expenses, child care expenses,etc.
Etc.
So let's see what ChatGPT saysStandard deduction versus
itemized deduction.
Which is better?
It depends on how much you candeduct based on your expenses.
So, standard deduction this isa flat deduction amount set by
the IRS and it gives us that.
I'm assuming, since I askedinitially, this is for 2024,.
(21:08):
Single married filing separately$14,600.
Married filing jointly $29,200.
Head of household $21,900.
So this is best for, accordingto chat, people who don't have
enough deductions to exceed thestandard amount.
It's simpler no need to trackreceipts for deductions.
(21:29):
So if you know right now youritemized list of all the things
is less than, let's say, if youare married, filing jointly less
than $29,200.
You might have that itemizedstuff just kind of there, but
you won't actually use that.
(21:50):
Your accountant may advise you.
Hey, you really are better offif you take the standard
deduction, right.
You want to take the biggeramount right, because remember,
it's a minus sign we're tryingto subtract this amount from
your total household income oryour business income, so you pay
less taxes.
So, number two, itemizeddeductions Instead of taking the
(22:11):
flat, you list out specificexpenses.
Itemized deductions instead oftaking the flat, you list out
specific expenses.
And this is where it gets alittle bit more into what you're
allowed to take the max.
And then it says this is bestfor people who have high
(22:31):
deductible expenses.
So you're spending a lot ofmoney on your business, right?
If you know you are spending alot of money on your business,
then it might be better toitemize everything.
So what is better for you as aprivate practice owner?
Take the standard deduction.
If your total personaldeductions don't exceed the IRS
limit and most people fall intothat category itemize.
(22:53):
If you have big deductions,such as high medical expenses,
large mortgage interest,significant state and local
taxes, large charitabledonations, business owner and
self-employed, then it's goingto get into how you file.
Your business deductions are notitemized.
They go on Schedule C andthey're separate from personal
(23:16):
deductions.
I'll talk about that in asecond.
Most private practice ownerstake the standard deduction
while still maximizing businesswrite-offs on Schedule C.
What is a Schedule C?
When you itemize or when yousubmit your taxes, and those are
(23:47):
additional write-offs you getas a business owner.
And so when I'm going to goahead and skip the question,
what should I keep or toss, andlet's go ahead and see exactly
what are the tax advantages ofbeing a sole proprietor I knew
(24:19):
that was going to be wrong.
I got to spell check that one.
I told y'all there are likefour words that I will never be
able to spell and I think that'sone of them Sole proprietor,
llc.
And I know in Texas you must bea PLLC if you hold a license.
But just for the sake of chat,I'm just calling it an LLC for
(24:40):
now.
Or an S Corp, all right.
And so when people ask in thesocial media world, should I be
an LLC, should I be an S-corp?
And that's why most of the timeI respond it depends.
(25:02):
Do you need the tax advantagesafforded by this particular
structure?
Afforded by this particularstructure?
So tax advantages if you are ofa sole proprietor, versus LLC,
versus S Corp.
So if you're a single ownerbusiness, it's easy, it's a.
It just the money becomes partof your money.
(25:25):
It's called a pass through.
All business deductions applythrough.
All business deductions apply.
Downside it saysself-employment tax is owed on
all profits.
No liability protection, bestfor solo practice.
So what does that mean there?
No liability protection.
Y'all have malpracticeinsurance.
(25:45):
You are protected.
To a point Also, if in moststates listening to the sound of
my voice your primary house,place of residence and certain
assets are protected in case ofa lawsuit, et cetera, et cetera.
Llc is a way to protect yourassets from your business and or
(26:10):
protect other businesses youown from each other.
So if you have severalbusinesses and you set up
several LLCs, the idea is it'slike unruly kids you're just
wanting to make sure if one getsin a fight it doesn't mess up
the other one.
Mess up the other one, right?
(26:35):
So that's the liability piece.
Now LLC, the limited liabilitycompany.
Again.
If you're a license holder,that's put a P in front of that
Tax advantages.
You have some limited liabilityprotection, pass-through
taxation, just like with oursole proprietor, right.
Your business profits that isincluded in yours.
You don't have to do a big,complicated tax return.
Can choose to become an S-corplater, all business write-off
(27:00):
supply Downside.
You still pay the fullself-employment tax and LLC fees
vary state by state.
That's annual reports,franchise taxes, et cetera.
And Texas just changed theirfranchise taxing thing and it's
weird.
I just got a notification theywanted me to file my franchise,
(27:25):
which is always zero for me.
But anyway, if you live inTexas, go to the Comptroller
account Comptroller website andsee if you're curious about your
franchise tax.
Llc is best for private practiceowners who want liability
protection but don't yet needS-corp tax savings.
(27:48):
So again, if you're out thereand you're listening to me and
you're just, oh, should I becomean LLC?
Should I become an LLC?
Ask yourself what are the taxadvantages and what am I trying
to protect and why, all right.
Last thing S-Corp.
Now this has the biggest taxadvantage, but it depends on how
(28:12):
much profit or income you make.
So pass-through taxation nocorporate tax can reduce the
self-employment tax by thousands.
All business right off supplyDownside.
The IRS takes a look at you alittle bit harder, more
administrative work and there'spayroll and accounting costs.
(28:33):
So it's important if you decideto do an S-Corp, you have an
accountant.
But in my opinion, unless anaccountant tells you to become
an S-Corp, I wouldn't just outof the blue say I want to be an
S-Corp today.
Ask the question why?
Because the LLC gives you thatlimited liability protection.
See what the S-Corp will do foryou.
(28:56):
That's different.
It's best for private practiceowners making $75,000 plus in
net profit that's not just takehome, that's just not the cash
running through your practice.
That's after write-offs, thatis profit and those wanting to
reduce self-employment taxes.
(29:16):
So which business structure isbest If you're just starting out
, sole proprietor or LLC, if youwant or need the liability
protection, want or need theliability protection LLC, if you
make 75K more in profit S-Corp,and then it goes on to tell you
(29:39):
how much you can save with theS-Corp, again only if you have a
Buku profit, all right.
Going back to the what should Ikeep or toss question, it's
really it's up to you, right,and I want you and I'm up
against time, so I wanna open itup to your questions.
Talk to your accountant.
I mean, I rely on electronicrecords and if anybody else is
(30:03):
listening to this and they'relike Kate, don't do that, you
need to have paper.
I totally respect that.
Again, what I try to do is touse one bank, one credit card
for all of those expenses.
So you know that's.
There is a paper trail if I hitprint.
Not everybody's comfortablewith that.
So, again, this was thispresentation is all about
(30:25):
getting you ready for taxes.
I'm going to hit the recordbutton, which means I'm going to
turn it off and open it up forquestions.
All right, do y'all have anyquestions or do you have any
comments?
Do you have any advice?
Anything that you're doing thatwe might benefit from doing
(30:59):
that we might benefit from.
Rosa says can I get moreclarity?
Pllc versus LLC, especially ifwe are providing therapy,
consulting, presentation,workbooks can it all be under
one umbrella or do I need toseparate them?
Great question, and I'm goingto give you the rule and then
I'm going to give you my opinion.
So PLLC is a rule in Texas ifyou are offering services under
(31:19):
your license and if you are alsooffering workbooks and things
that are non-clinical, that's aquestion for your attorney.
So for me, when I first openedmy counseling practice, I also
offered non-clinical servicesand so I did not organize as a P
(31:41):
, but that was like 20 years ago.
I really recommend talking toan attorney who understands okay
, I'm offering these multiplethings, which holds more weight,
right, if I'm?
It's like I've always wonderedokay, so if you offer any like
one single clinical service,does that mean okay, you got to
do the P for everything, likeit's got to be a P.
(32:04):
Or if you offer non-clinicalstuff, does that offset all the
P?
Or non-clinical stuff, doesthat offset all the P?
So that's part of my answer,rosa.
The second part is it depends onthe impact these different
businesses will have.
I think somebody actually askedthat this morning and I think
(32:24):
it was in the Texas SupervisorCoalition.
They were just starting theirsupervision practice and they
said do I need an LLC?
And I didn't type anything inthe response.
But I'll tell you my thoughtshere.
Remember what I said earlierabout protecting a business from
each other, two businesses fromeach other.
You know, if you're concernedthat your counseling practice
(32:46):
could negatively impact yoursupervision practice or vice
versa and I don't know what kindof clientele you do, I don't
know what kind of supervisingyou do, what your specialties
are that would be the reason forme that you would separate them
.
That's one.
The second reason to separatethem is for marketing clarity,
(33:07):
branding clarity.
You know we all think about ArmHammer.
You know baking soda, right?
Well, if Arm Hammer startedselling magazines and they were
going to brand it as Arm Hammermagazines, right, it would be
confusing, like it's okay, areyou a magazine company or are
you still selling baking soda?
So that, for me, is one issue,and it's a pretty big one for
(33:29):
SEO and making sure the rightpeople are finding you and that
Google is delivering you to thepeople who are searching for the
right service.
So those are three things toconsider when you're thinking
about doing a PLLC, llc or justdividing things all together.
All right, kathy wants to know.
I get stuck not knowing whichcategory specific things go in
(33:52):
and end up with everything in amiscellaneous category.
I get that, but I think I willask chat GPT Yay, I'm so glad.
Yeah, when my my firstaccountant, he kind of warned me
.
He's like, if you ever come tome with miscellaneous expenses,
I will send you home.
And so I was like, oh, itscared me.
So I use a lot of advertisingand marketing category, I use a
(34:20):
lot of software category.
So those two those are hugeones for me.
And when you think marketing,it's got to be reasonable, right
.
Like, if I take a trip tosomewhere and I'm going to do an
Instagram post or I'm going todo a presentation from there,
right, I can't say like thewhole trip was for that purpose,
(34:41):
right?
So that's part of the marketingthing.
You want to make sure you'vegot a savvy accountant, somebody
who's up to date with currentmarketing strategies, and not
someone who's like, well, Idon't like that internet thing
and you know I don't do thatsocial media, right, if you're
using social media andtechnology for your marketing,
get an accountant whounderstands that I can't
(35:04):
emphasize that enough and ask AIGreat questions.
What else All right?
Well, if you have any othercomments or questions, y'all.
And if you are on Facebook,don't forget to tag me.
(35:26):
Tag me and ask me questions.
I don't generally see it unlessyou tag me, because I'm looking
at all kinds of things inFacebook.
You know, stalking thosethreads.
So please, please, tag me ifyou have questions about today.
And thank you all for coming.
I'm so glad you're here and Ihope you got something out of it
.
I hope you have a wonderful dayand I will see y'all soon.
(35:46):
Bye.
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