In 2024, we stayed focused on our mission: helping therapists like you spend less time on finances and more time building thriving practices. 

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Despite the challenges this year brought—from new care models to changing insurance requirements—your partnership helped us achieve some big wins: we gave our members back 49,000 hours they would have spent on bookkeeping.

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That's a lot of time back for what matters most, whether it's supporting clients or taking care of yourself.

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And there's more to celebrate. We filed an on-time 2023 tax return or an extension for 100% of our members, protecting therapists from costly failure to file penalties (and with a focus on savings, too). 

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Best of all, therapists using Heard saw their practices grow, with profits up 20% compared to last year.

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We grew our businesses together

Through over 50,000 unique connections with therapists–from advisory sessions to community webinars to feedback calls to the support questions we answer for our members–we gained invaluable insights into your evolving needs. 

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These conversations shaped every improvement to our platform and deepened our understanding of how to better serve you. Here are a few stories about how our members are using Heard to build their practices.

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• How Dr. Justin Dodson Started a Private Practice on His Friend’s Couch
• Michelle Vo and the Power of Taking Calculated Risks
• How Dr. Audra Horney Beat the Tax Season Blues with Heard

We saved time together

While you were there for your clients during their biggest moments, we took care of your finances behind the scenes. Thanks to our bookkeeping team and smart technology, we categorized over 2 million transactions for our members—double what we handled last year!

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This year, our members earned $381 million through their practices—from one-on-one sessions to social media content and other ventures. Even better? More than 35% of our members crossed the $100,000 revenue mark, showing just how much your practices are thriving.

We simplified taxes together

Your commitment to staying on top of taxes really paid off this year. 60% of you kept up with quarterly estimates, and a third of you breezed through your annual tax returns without a single question. Even better, zero Heard members faced an audit on their tax returns. That's what we call peace of mind!

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Speaking of smart tax moves, we helped many of you explore whether an S corp made sense for your practice. We guided over 30% of our members through this decision and helped those who were ready to file their paperwork with the IRS. For many growing practices, this continues to be one of the best ways to save on taxes.

What we launched in 2024

As we've evolved alongside your practice, your feedback has shaped our platform. Here are some of the key features we've introduced.

Smarter Bookkeeping & Financial Insights 

We've made keeping track of your finances easier than ever! Our plaid integration means your transactions are automatically categorized and reconciled each month. 

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Plus, we've rolled out clear, easy-to-understand financial reports that help you track your income, spot expense patterns, and plan everything from marketing campaigns to vacation time—all based on real data from your practice.

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Wealth Building Tools 

We launched a pilot program connecting therapists with Certified Financial Advisors. Why? Because we know your practice isn't just about business—it's about building the life you want. 

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While we started small, we're excited to expand this service to help more of you create personalized financial plans that align with your goals.

A Growing Community 

We're all about supporting you! Our support team responded within 4.5 business hours to your questions (and we got thousands each month!). 

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Plus, this year, we launched a community platform where you can connect with other practitioners facing similar challenges—a space where therapists like you share ideas, solve problems, and grow together.

Learning and Growing Together

2024 was full of learning opportunities! Our annual Financial State of Private Practice Report caught the attention of over 1,500 readers. ‍

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The Heard Business School podcast took off with fan favorites including Income Beyond 1:1 Therapy Sessions with Dr. Alex Auerbach followed by How to Build a 6-Figure Therapy Practice Using Instagram with Kelly McKenna. Check out the top 5 takeaways from this year on Heard Business School.

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As we step into 2025, we're excited to build on what matters most to you:

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• Making your day-to-day easier with even smarter automation
• Expanding our tools to help you plan for your financial future
• Bringing you more resources to grow your practice exactly how you envision it
• Keeping compliance simple, so it's one less thing on your mind

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Every day, you make a difference in the lives of your clients. It's our privilege to take care of the business details so you can focus on what you do best.

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Thank you for choosing Heard as your partner in this journey.

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This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult their own attorney, business advisor, or tax advisor with respect to matters referenced in this post.

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