S3E7: Everything you need to know about purchasing a home in private practice and as a self employed business owner with Austin Lampson

On today’s episode of the Flourishing Therapreneur, we are joined by Austin Lampson.  

 

This episode is for you if you are:

 

• Unfamiliar with the financial jargon related to loans and taxes as a private therapy practice owner.
• Curious about what the four building blocks of a loan are and why it’s important for you to understand them. 
• Wondering if you should separate personal and business debt, and the best ways to go about doing that. 
• Interested in learning which expenses from your business (or personal life!) can be deducted on your income taxes.
• And curious how much debt (including buying a home) you should take on as a therapist in private practice. 

 

Gosh, I learned SO much from this week’s conversation with Austin Lampson on everything you need to know about purchasing a home in private practice and as a self-employed business owner! Austin and I had a vibrant discussion breaking down the four building blocks of a loan, including income, assets, credit, and property, and she outlines how each one is important for us as therapists to understand. We break down what it means to separate business from personal debt, along with what benefits you can tap into when it comes to income taxes as a self-employed business owner. Austin really helped me understand some of the financial and technical jargon that we often are not taught in our graduate programs, including what to take advantage of and which pieces to look out for. I am so excited to share this information with you and hope you find this conversation as valuable as I did!