Episode 149: Partners in Practice Series Part I: Partnership Agreements 101 (with Dan Mayer & David Yood)

Navigating Partnerships in Private Therapy Practices In this episode of 'Therapy for Your Money,' host Julie Herres discusses the intricacies of partnerships in therapy practices with attorney Dan Mayer and practice owner Dave Yood. They explore the importance of having a well-crafted partnership agreement, key elements that need to be included, and potential sources of friction among partners. Dan and Dave share their experiences and share the key ingredients to maintaining successful partnerships. Episode Highlights 00:00 Introduction to Therapy for Your Money 00:49 Today's Topic: Partnerships 01:26 Meet the Guests: Dan Mayer and Dave 01:31 Dan Mayer's Expertise in Mental Health Practices 02:36 Dave's Journey in Forming a Partnership 04:12 The Importance of Partnership Agreements 07:27 Key Elements of a Partnership Agreement 10:46 Legal and Tax Considerations 16:18 Dave's Experience and Advice on Partnerships 17:06 Navigating Partnership Agreements 18:20 Tax Challenges and Solutions 18:56 The 'Eat What You Kill' Model 19:30 Avoiding Partnership Conflicts 20:44 Handling Partner Exits and Deaths 24:05 Importance of Clear Rules and Roles 27:42 Final Thoughts on Partnerships 31:23 Where to Find Us Links and Resources Protecting Your Practice - https://www.protectingyourpractice.com/ 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