ABSTRACT
This chapter presents five common financial mistakes made by therapists in private practice. Notice that they all derive from failing to think about the financial dimension from a good employer’s perspective. A good employer would provide a sound retirement package from the business’s revenue stream-not spend all the business’s revenues on salary. A good employer would make prudent investment decisions for the retirement plan, obtain adequate insurance, and set up a business structure that minimizes taxation. These considerations are simply fundamental to doing business in a professional way. Let’s look at how therapists often neglect such fundamentals and how such mistakes can be addressed.
