From Therapy to Tax Strategy: How Becky Spence is Helping SLPs and OTs Save Thousands
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What challenges do clinicians face when starting a private practice?
Starting a private practice isn't what it used to be. Today's clinicians are starting private practices much quicker, easier, and cheaper than before. And they aren't guessing their way through it or getting stuck in analysis paralysis, they're following a tried and true roadmap in order to save time, money, and frustration. There is no reason to reinvent the wheel or struggle to figure out how to start a private practice on your own. We've helped thousands of SLPs and OTs through this process and now we want to help you too. For a limited time, I'm offering a free copy of our private practice roadmap, specifically for SLPs and OTs who are curious about private practice and want to see what the journey looks like.
To download your free copy, please visit startyourprivatepractice dot com backslash roadmap to sign up. Now on to the episode.
Becky Spence is a speech language pathologist who made an incredible pivot from owning a thriving private practice to becoming a certified tax advisor specifically for healthcare professionals and small business owners. Becky launched her private practice achieved therapy back in 2014 and scaled it into a large and very successful multidisciplinary clinic. During the pandemic, her business boomed thanks to her existing teletherapy infrastructure, but what came next was a big wake-up call, tax time. After experiencing serious sticker shock despite paying estimated taxes, Becky dove deep into the tax code, got certified, and completely transformed her career. Now she helps SLPs, OTs, and other small business owners understand their finances, maximize their tax deductions, and create lasting wealth through smart financial planning.
In this episode, Becky shares how she bridged the gap between clinician and CEO, what private practice owners don't know about tax savings, including two amazing tax deductions that you may not know about, and other practical tips for setting up your business to thrive financially, including how to create your own retirement plan so that you can comfortably leave your job. Whether you're just starting out or already running a private practice, if you want to learn how to have a more profitable practice and save more in taxes, then this conversation is packed with gems that you won't want to miss. So stay tuned.
I'm Jenna Castro-Kasbon, speech language pathologist, business coach, and creator of the Start Your Private Practice System. And I'm on a mission to turn stuck SLPs into successful private practitioners. If you're tired of dealing with high productivity requirements, high caseload sizes, and low pay, it's time to take control of your professional, personal, and financial life and finally get the freedom, flexibility, and financial abundance that you deserve by working with private clients in your own practice. Join me here each week as I share tips, best practices, and inspirational interviews on the Private Practice Success Stories podcast. If you're a private practitioner or one in the making, you're in the right place, so let's get started.
All right, so before we dive in, can you please share your name, your location, and also the name of your former private practice as well as the name of your current business?
Yeah, so my name is Becky Spence and I'm located in northern Colorado. I serve pretty much the whole northeast area of Colorado. And my private practice was achieved therapy. And we started as just a speech clinic added OT. And then I sold my clinic. And I'm kind of back to a solopreneur scene just a few Special cases, but my new business is Spence Tax Advising, where I really dial in helping. small businesses and service-based businesses like private practices keep more of their money and pay every tax dollar they're supposed to, but keep every penny that they should be keeping for themselves.
I love that, Becky. There are so many people that we have listening right now who absolutely need to hear more about this topic. So before we start diving into the financial aspect, can you just share a little bit about your life as a private practice owner and how that went for you and anything that has to do with finances along that story, I think would be super helpful.
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1 identifiedMore from Private Practice Success Stories
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