If you have ever looked at your bank account and wondered where all your money actually went, the right tax strategies might be exactly what you have been missing. Most of us started a private practice because we love the work, not because we wanted to become experts in cash flow, pricing, and taxes. So it makes sense that this is the stuff that trips us up.
In this episode of The Traveling Therapist Podcast, I sit down with Emily Bowie, a CPA and cash flow strategist with Thorne Advisors, to talk about why so many therapists end up profitable but broke. Emily has a real gift for making the money side feel doable instead of overwhelming, and she shares the kind of tax strategies that can genuinely change what you take home. If you have ever felt a little unsure about your own numbers, this one is worth a listen.
n This Episode, We Explore…
Connect with Emily Bowie:
Website: https://www.thorneadvisors.com/
Instagram: https://www.instagram.com/thorneadvisors/
Free Resource (5 Cash Leaks & 5 Missed Tax Deductions): https://www.thorneadvisors.com/cashleaks
Kym's Resources:
Bill Like a Boss: https://kymtolson.kartra.com/page/Bill-Like-A-Boss
100 Side Hustles for Therapists: https://kymtolson.kartra.com/page/opt-in-100-side-hustles
Thera AI Hub: https://kymtolson.kartra.com/page/AI-Tools-for-Therapists
Coaching with Kym: https://calendly.com/kymtolson/30min
The Traveling Therapist Facebook Group: https://www.facebook.com/groups/onlineandtraveling
Connect with me:
Instagram: @thetravelingtherapist_kym
The Traveling Therapist Facebook Group: www.facebook.com/groups/onlineandtraveling/
Signup to learn more about life as a Traveling Therapist: https://www.portablepracticemethod.com/free-training
Revolutionize Your Private Practice with AI Course: www.kymtolson.kartra.com/page/ai
Bill Like A Boss Insurance Billing Community: www.kymtolson.kartra.com/page/blab
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Transcript
[00:00:00] Kym: Hey, everybody. Welcome back to another episode of the Traveling Therapist Podcast. We have a very interesting guest today. She's not a therapist. You guys know sometimes I bring in guests that are not therapists but have really important information for us to learn about and from. We have Emily Bowey here with us.
[00:00:17] I'm gonna let her introduce herself, but Emily is a CPA. She's with Thorn Advisors. She's gonna talk to us about lo- a lot of things that she sees therapists doing financially that they could be doing better because we're not, we don't know how to run businesses really, not necessarily. So we get into this.
[00:00:35] We're like, "We're gonna start a private practice. This is so great." And then it's like, "Oh my God, wait, I've got, like, taxes and, like, what do I do?" So Emily's here to talk to us a little bit more about that, what she does, how she helps therapists, but also give us some tips, strategies, and understanding of some of the common things that come up with therapists, like in solo private practice or even group practice.
[00:00:56] So Emily, welcome. Thank you for being here.
[00:00:58] Emily: Thanks for having me. So my name is Emily. I'm one of the partners at Thorne Advisors, and we are really passionate about helping business owners and therapists turn profit into cash. And I know that sounds like, what does that mean? But often we see people have profit on their income statement, but not cash in the bank.
[00:01:21] And so we're really passionate about helping them turn that into real cash, reduce their taxes strategically and not just willy-nilly, and then help them build wealth and legacy, because we all got into business for this bigger, better life and a different way to do things. And so we're really passionate about helping people figure that out for themselves.
[00:01:44] But we know everybody's situation is unique, especially um, I love what you are doing here and really reimagining therapy and having therapists on the go, because that's kind of what brought us into business and creating an accounting firm is because we both came out of public accounting and we were like, "There's gotta be a better way to do this where we can be present and be able to do what we want to do, travel, be available for our children, whatever the case may be, while still making an impact and doing the thing we were technically trained to do."
[00:02:22] Kym: I love that so much. And before we hit record, we were even talking about, like, your travel aspirations. Maybe you could share a little bit about your, your situation. And I love that you've made this sort of a remote situation for you, 'cause I think accountant, right, they're, they're, like, in a stuffy office in a big, big skyscraper somewhere.
[00:02:39] You have to go in and see them in their office, that kind of thing. So maybe share a little bit about, like, your goals with us.
[00:02:45] Emily: For sure. That was my life, if I'm being honest. I, I was in Big Four accounting, so I was very much your typical accountant. I was more on the audit side of the house. But the idea of having to ask for time off and really never knowing what the week looked like because it was dependent on everybody else and whatever they told me I was
[00:03:06] Kym: Yeah. Ugh
[00:03:07] Emily: it really pushed me to make some changes.
[00:03:10] But as far as travel and all of that is concerned, I started my first, like, travel endeavor when I studied abroad in college. So I came from not, let's just say humble beginnings. And so traveling was, like, not a thing in my family. No one had really flown on an airplane, let alone leave the United States.
[00:03:33] And so I was, like, super passionate to-- I love culture. I love seeing what's out there and being able to kind of get immersed in s- other cultures and, you know, learn about how they're doing life on this world while we're doing life differently. It's just amazing to me. And in my later early 20s, I spent a lot of time on the road traveling.
[00:03:58] I studied abroad in Brazil. I really made it, like, my available to go wherever I was called. And then I quickly had children in my 30s. And I have three kids. They are three, five, and seven. So I spent a lot of time just raising babies while I was building my business. And so now that things have settled down, they can kind of be a little more self-sufficient, my husband and I are talking about, like, where are these opportunities we can go and now that we have this flexible schedule.
[00:04:33] So we're looking at France in the fall, and he has a couple of other opportunities, and I'm like, "Let's go." And, like, teach my kids early on to, like, embrace being on the
[00:04:45] Kym: Oh my gosh, that's amazing. And you even took the kids hiking in Zion, which is, like, so cool.
[00:04:51] Emily: Yeah, I, I'm very much this believer that we need to have life experience in order to, like, determine what's for us and what's not, and being able to get them in and on a mountain and, like, make them hike it, make them know, like, what's required to do something like that. I think you do it young and you do it often, so
[00:05:11] Kym: I love it. You're just instilling that early, especially coming from a background where you didn't necessarily have that instilled in you, and to be able to give that to your kids is just amazing. Very cool
[00:05:21] Emily: Yeah. It definitely feels like such a blessing to be in a time where we can do things differently. Like, there was not a time before where you could be a high-producing accountant at home. And the fact that we have that opportunity now for us, and then being able to pay it forward to other CPAs to do that.
[00:05:44] And then even on the client side of it, giving, taking something like this off their plate so that they can go be about and do about whatever they
[00:05:54] Kym: Yeah. Oh, I love it. I love it so much. I, I love, like, partnering with companies like this that have the same values and, like, goals that we do, The Traveling Therapist do. You know, it's amazing. So something you talk about is profitable but broke. Can we talk about that? Like, what does that mean?
[00:06:11] Emily: Yes. Yes. Uh, So I think it's more common than not that business owners just don't understand how their cash flows in their business. So they are very familiar with generating income, but they don't know how it's actually moving in and out beyond that. And so what I do on my side of the house of the firm is helping people walk through their end-to-end customer journey and identifying where they're leaking cash or leaving cash on the table.
[00:06:41] Because there's so many times when your pricing isn't optimal that you're not actually making a profit after you pay all your overhead. Or on the flip side of it, you pay so much in taxes that your profit just kind of dissipates very quickly with your estimated payments. Or in other unfortunate times, not having any money available to make the payments 'cause you've paying yourself and compensating yourself in a way that you can't track and, quantify well.
[00:07:12] Kym: Mm-hmm. Oh my gosh. Yeah, I mean, that is such real, real stuff, especially with therapists. Like, one, we always underprice ourselves. Not all of us, but you've probably seen this if you're working in this population at all. It's like, you know, we learn in grad school that it's, like, not okay to, like, make money.
[00:07:28] You know? It's the craziest thing. Like, one of the few professions it's like you can't really, like, make money. It's, like, not okay. So I like hearing that, that they're not pricing themselves right. let's dig into that a little bit. Like, what are the strategies? Like, okay, so you help them identify the leaks.
[00:07:43] and then how to plug the holes or whatever. what are some strategies you would do with somebody that comes to you with a situation like that?
[00:07:50] Emily: So first and foremost, I always look at pricing because oftentimes we're pricing based on the market or what somebody told us or what we've priced in the past. And so what we encourage our therapists to do is, "Hey, send me your income statement and let me see how much your expenses are in relation to the income you're making."
[00:08:12] And this helps us because that shows us what your overhead is. And so then when I put your service price less your direct labor to do that, and then take that number, 'cause that's the number you think is profit, then I multiply it by that overhead percentage, and then you get what your real profit is.
[00:08:34] You're like, "Uh-oh. I'm only making a dollar a session, $2 a session." Some people are making negative, and they feel it because they're not having enough money to cover their expenses
[00:08:49] or the timing doesn't work out, especially if they utilize insurance and do different things like that. And so that is like one of my really party
[00:08:59] Kym: Yeah, I bet
[00:09:01] Emily: like-- Because as soon as I do that, they're-- it makes them realize how much sense it makes that everything has felt so tough. And once you feel like grounded in that, then you can start making decisions like, "Oh, I actually need to be able to turn the lights on to be able to continue this business.
[00:09:20] And if I don't make more money, I can't do that." And then I'm limiting my impact and I'm limiting the person on the other end's impact because I can't serve
[00:09:29] Kym: Yeah, absolutely. Oh my gosh. So yeah, that's kinda hitting me hard too. I'm like, "I wonder what my number is." Like, I've never looked at that. I mean, I have enough to live comfortably, but I've never looked at, like, seriously, like what is that actual number I'm making based on everything I'm paying out? That's so interesting. Wow.
[00:09:47] Emily: For sure. I think it's one of those things where you probably already know that something's off, right? Like, there's something there where you're like, "Ugh, why does this feel misaligned?" And what I encourage people to do, especially if they feel sticky around raising prices, is remind themselves that they don't wanna build resentment towards doing their job because they can't make ends meet, but then they still have to show up and counsel and help people.
[00:10:16] And so it really does prevent heartache in the end by making the changes now. And you don't have to change everybody's prices. It's just the new patients. That's how I encourage people to start, is start with the new patients 'cause you're setting what the standard and expectation is. And then you can maybe raise standing clients 5, $10 at a time, whatever you're comfortable with once you land on a price that you think is going to not only cover what it costs you, but then also give you margin to be able to grow and scale for whatever your dream is, you know?
[00:10:57] Kym: Oh, that's such good advice. Oh my gosh, look at the numbers, y'all.
[00:11:01] Emily: Well, and I think that's, you know, when I talk to therapists often, a lot of them are doing their own bookkeeping. That's the first thing I tell them to outsource because it's really hard to make strategic decisions if you don't know the numbers are right. And you already have such a capacity I don't know a better word for this, but like a job that requires a lot of your capacity.
[00:11:24] So to then do it in something that is not your expertise, you might as well outsource it. It's just gonna serve you better. But also it gives you some comfort that you're not making this up. This is actually what's happening. And then you can use those numbers to decide if it's time to transition into an S corp, if it's time to change your prices, you know, all of those things.
[00:11:49] And I think it's super important that as the business owner, you have enough of an idea of what's going on, but also when it's time to delegate it and outsource it to somebody who knows it a little bit better, you
[00:12:03] Kym: Yeah, 'cause you don't know what you don't know, especially with stuff like this. You know, like, uh, I mean, it's, you can enter numbers in, but you probably have so much experience around strategically, like you just said, like raising, raising with the new clients only and then working up to this number that you need to hit. Like, that's really smart. It's really smart to scale that way
[00:12:22] Emily: And I think too, along those same lines, I just see so many therapists paying an absurd amount of taxes.
[00:12:29] Kym: Yeah
[00:12:30] Emily: so if we're going back to, like, where people are profitable but they feel broke, that's another area that I see often with therapists because they go into practice 20 years ago and an S corp election didn't make a lot of sense then.
[00:12:46] And then they've never re- um, like revisited it. And I had one client, we saved him over $90,000 in taxes because he was a very high earning individual and he was just paying so much in taxes, and just making the S corp election alone changed the game. And we didn't even apply all the strategy that's available to you once you become an S corp.
[00:13:15] We're doing that this year. So, like, just keeping that in mind is, like, the S corp election is a strategy in itself, but then you open this whole avenue of levers to pull that you can't do as a taxed as an sole prop, so
[00:13:32] Kym: can you talk about, like the S corp and when, it is smart to... I mean, I'm sure it's, like, individualized, but there's probably, like, a general, like, this is when you would opt into it. And why would somebody wanna do that? And somebody that's listening, they're like, "I have no idea what you're even talking about."
[00:13:46] Emily: Yes. Yes. So normally everybody encourages you to become an LLC or a PLLC depending on your licensure and how it-- what is required of it. And that will then automatically make you a sole prop unless you elect to be an S corp. So the difference between the two is that it's just the tax election. It's basically saying, "I want to be taxed as an S corp versus just myself."
[00:14:14] And when you are getting taxed as a sole prop, you're paying all the sides of the taxes. When you become an S corp, you're paying the employment side because you are now paying yourself through payroll. And you then have a lower percentage that you pay taxes on of what remains in the business.
[00:14:32] Whereas when you're a sole prop, it's everything that remains plus the money you pay yourself that you get taxed on. So like, it saves you a lot, but there are rules and specific things you need to do. So this is where I say for therapists specifically to outsource it to somebody who knows, because your state has different requirements, and then your licensing board has different requirements based on the state you're in.
[00:15:00] And so my rule of thumb in general for everywhere except New York, your net income, so that bottom line income, not top line revenue, but that bottom line after all your expenses should be at 100K, 70 to 100K. And that would be the time to switch. Now, if you are in New York, because of the way their taxation works, we recommend that to be around 250.
[00:15:26] So 250,000 net income would be like the ideal time to switch. And it's just different there, but we've learned working with an actual um, it was a couple therapists actually in New York that one converted too soon, so we took-- like we made them back into just a normal LLC. And then one who hadn't switched, and then they saved lots and lots of money.
[00:15:54] And so, you'll hear kind of other places, like 40 to 60K net income, and we don't agree with that because we don't want your cash flow to be stunted, and we wanna make sure you're not taking on those extra expenses that it's not gonna actually give you a benefit on the other end.
[00:16:15] Kym: That makes sense. Yeah. that's one of the best things that ever happened to me was early, early I got an accountant and they were like, "You need to be an S corp, like immediately." And I was like, "Oh." Like, I didn't even realize, like, the benefits to it. You know, you're paying stra- you're paying taxes on a salary instead of, like, everything you bring in essentially, and the rest is just left over, but you don't, you don't have to pay taxes on that. I mean, that's how I think of it, right? Yeah
[00:16:40] Emily: and I think that's, like, very simply put. You're paying on your salary, and then you're paying a very low percentage on the what remains. Whereas when you're in that sole prop designation where it comes straight to your Schedule C, not to get too technical, but, like, if you're in that realm, you're paying self-employment tax, you're paying the employee side of tax, you're paying all these other taxes on everything.
[00:17:06] So whether or not you take the money out of the business or you leave it in, you're paying it on everything. So that in itself makes a world of difference. But then there's this, like, strategy that can be unlocked when you become an S corp, which is just not available to you as a sole prop because of what you report or don't report to the IRS.
[00:17:29] So basically, when you become an S corp, they have a better idea of what you're earning. They know how much you're paying yourself. They have a little bit of an idea what's going on. And so they are actually the least audited tax election. Yeah. People think, yeah, people think and they are, you know, discouraged and they're like, "Oh, I don't ever wanna make that because it's gonna put a flag on my head." And it's actually less audited because they know more about your business.
[00:18:00] Kym: interesting. That's a good tip.
[00:18:02] Emily: at least that's my theory on it. I don't know that that's, like, the technical side of it. But when you become an S corp, you then can start reimbursing yourself for expenses that you say it is an expense of doing the business here, it's called an accountable plan.
[00:18:20] You can rent your home back to yourself for meetings and other things like that. Instead of going to a conference room to rent that out, you can do comps nearby and use that to cover some of your taxable income. So there's options that you just don't have available to you until you become an S corp.
[00:18:39] Kym: Wow, very interesting. I live at Airbnb, so I can't probably do that, but that's interesting to know
[00:18:45] Emily: Yeah. Well, but so I did find out, so I'm not the tax expert, right? So I, my business partner is the tax expert, but I know enough to be dangerous and to tell people they need to do this part. But I did find out even if you rent, you can still take that rental income and show the difference and put that as like cover some of your taxable income.
[00:19:09] And then there's just so many different options out there that, you know, this is where you want to engage a tax strategist to say, "Hey, have you considered this? Have you considered that?" And even if you are making that transition in the first year, I always recommend to do tax strategy that year just so you know what levers are available to you.
[00:19:32] And then from there, if everything stays the same, it's not super complicated, whatever, you don't need to do tax strategy again for ever or for a while, depending on what your situation is. Now, if you own Airbnbs in addition to your practice and all of those things, that then becomes like, hey, there's probably rules that change from year to year that give you a little bit more strategy that can be used too.
[00:19:57] Kym: Interesting. Yes. let's talk about the P&L. I mean, I get a P&L, right? I d- I mean, I look at it. I don't know. Like, what, should somebody that's getting it... Like, I know that you talk about a little bit, like the one thing, the one number you should know in your P&L. Like, could we talk about that on here, and what is a P&L?
[00:20:17] Emily: Yeah. What is the P&L? Yeah. I think this is so common, and even if you're a seasoned business owner or not, I think a lot of people spend a lot of time on the P&L, and that's your profit and loss or your income statement. Those are kind of interchangeably used. But they forget about the balance sheet, but the balance sheet has how much money you have in your bank account.
[00:20:38] And so I'm a huge proponent of looking at that profit and loss aside your balance sheet and say, "Okay, that profit at the bottom, what does that look like in comparison to the cash in your bank?" Because if they do not look similar, they're telling me a story. And that story is that, you know, maybe you have built your business on debt, and so there's money that's going out that's not captured in your profit and loss statement.
[00:21:10] That's a high probability. It could be that you're taking owner's draws that are not reflected in your W-2 or they're not gonna be on your profit and loss, so you've extracted more cash out of your business than you do profit for the year, which you can do if you've been in business for multiple years.
[00:21:28] So it tells a whole story that helps you identify where you need the systems, the structure, the policies, the procedures, all of that. And I feel like I heard an episode with you where you were talking about SOPs and, like, being able to make things repeatable. This is, like, something that I often talk to people about because operating efficiency is your best opportunity to r- get that cash leak back into your business instead of letting it leak out.
[00:21:58] It is the best plug for most of them. It's having a policy and procedure, how you pay yourself, how y- and when you use debt and when you don't. And are you using credit cards? Are you getting a line of credit? Like, all of those things. I'm a cash girl, so
[00:22:15] I don't ever really recommend debt unless it's strategically used, there's a plan in play, and we know that if worse comes to worst, we could pay it
[00:22:27] Kym: Yeah
[00:22:27] Emily: Because to me, the growth won't... It could be stunted if you're stressed out, overwhelmed, can't figure out how you're gonna make ends meet. And usually what I talk to people about before we get into all of that is what their personal finances look like, because that also will tell me how responsible they'll be with their professional debt as well.
[00:22:52] Kym: Yes. Oh my gosh. I'm just, I'm thinking about my accountant. She probably hates me ' cause I have no like, Oh, I'm gonna take 5,000 a month and put it into my personal account and then pay my bills that way." It's like, like literally we just bought e-bikes the other day and it's like, oh, you know, I need to just pay that off.
[00:23:08] I gotta take the money out of the business account, just put it into my personal and pay it off, you know? She's probably like, "Where, where is this like $3,000 coming from, Kim?"
[00:23:16] Emily: Well, and to that point, so when you become an S corp, you have to determine what your reasonable compensation is.
[00:23:23] And so there's like a survey you can fill out or y- someone can do research to see like how therapists are paid for the number of hours you work, so on and so forth. But if your owner's draws are bigger than your reasonable comp, then you become a flag.
[00:23:41] and the most common audit when you become an S corp. So S corps don't really get audited that much, but when they do, it's typically around their reasonable comp, is are they actually taking a salary that is reasonable to pay somebody else to do the same thing they're doing?
[00:23:59] Kym: Interesting. Yeah. Oh
[00:24:02] Emily: And this is why you-- this is where I say, you know, there's seasons in your life and there are, like, levels you attain as you become a business owner. Hire the expert that can tell you things, that can monitor it with you, that can support you in making those strategic decisions, 'cause to your point, you don't know what you don't know, right?
[00:24:24] Kym: exactly. Oh my gosh, such good information. So how does, how do you guys help? Like, let's say I just, get off this call and I'm like, "Okay, I'm booking a call with her," like, seriously, what's the pro- like, how do you help us if we need it?
[00:24:36] Emily: For sure. So our main offer is the cash flow tax strategy bundle, and the way that works is we get on a discovery call regardless of what your situation is, and I really get to know where you're at now, where you wanna be, and then what's working for you and what's not working for you getting there. And then I will kind of go through my Rolodex of what we offer to see if it's a good fit.
[00:25:00] I am a huge proponent of, like, saying, "It's not the right time," or, "We might not be the right people," or whatever the case may be, because I always step in integrity, and I wanna make sure if I'm gonna offer you something like tax strategy, cash flow strategy, S corp election, it's gotta get you a return, because it does nothing for me if it doesn't make sense for you.
[00:25:25] And so that's why that call is so important, is for me to look at your specifics and know what you have going on, know what your goals are to figure that out. But when you engage with us for cash flow tax strategy, we do a goals call because we know your tax strategy, your cash flow strategy has to make sense with your lifestyle.
[00:25:45] So if you travel a lot, your strategy's gonna be different than somebody who is at home, has a home base all the time, you know, all of those things. and then we do the end-to-end customer journey, and we just hear and find anywhere that we feel like you either need to do an analysis over, you may want to make some tweaks and changes.
[00:26:06] But then Andrea comes in with the tax strategy piece, and she gives you different scenarios based on what we know what your goals are, where you're at today, the things you can implement for this year or for the next five to 10 years, depending on how much you think ahead. Because for us, we don't wanna give you a strategy that only makes sense for this year.
[00:26:30] We wanna make sure that you're set up, especially as business owners, when we need to buy a home, we need to qualify for a line of credit, it does not make sense to make your tax liability the smallest we can make it because we need to show that you're profitable, that you can cash flow things, that you can do that.
[00:26:47] So that's why doing those things in tandem are so helpful because if she like let's say Andrea comes back with a tax strategy and I'm like, "She doesn't have the cash for that. That's not gonna work," we can strategize together to get best of both worlds. Like, how do you make that make sense for you today?
[00:27:07] So that's kind of where we spend our time, and we kind of make it our business to know what's out there because one, we're a small business, so we wanna take advantage of what's out there. But two we are very big on integrity and making sure that what we're offering you, we make sure you have the proper documentation, you fully qualify for it, and do all of those things too.
[00:27:31] And the only way we can really do that is, like, knowing the ins and outs of your business, you know?
[00:27:36] Kym: That's so interesting. Do you guys, this is total side note, do you guys do anything with, like, foreign income tax?
[00:27:43] Emily: Yeah. Andrea, yeah, Andrea is... So she came out of public accounting in this like mid-tier level, so she is well-versed in lots of things I don't even really know about as a... we're both CPAs, but she's like your tax CPA, and I'm like your, "I know how to save you money"
[00:28:04] Kym: strategist. Yeah, that's very, that's a good combination though. That's very cool that you guys are doing this together. So interesting, yeah. So she would know about that, 'cause a lot of the listeners are, are like working out of the country, like, for what is it? More than 333 days a year or whatever, and then they've gotta like consider like, you know, foreign tax income and, and how to do that.
[00:28:24] So it's like a, you know, it's a whole thing. So I didn't know if you guys know about that or if you could help with that too if somebody's listening.
[00:28:31] Emily: Well, and that's where that scenario analysis would be huge. So like if you're planning out your year or your next few years of travel and all of that, she would be able to say, "If you do it this way, this is what it looks like. If you do it that way, this is what it looks like." Because that's like that next
[00:28:49] Kym: Yeah, right
[00:28:50] Emily: we're not just like, "Oh, I wanna go here because my heart says so." It's, "My heart said so, and my wallet approves."
[00:28:58] Kym: And I wanna make sure I pay the taxes in all the places and all that good stuff. Yeah.
[00:29:02] Emily: Yeah, 'cause you just don't want to get stuck with penalties, and you also, there's such strategy to be had when it comes with taxes too, and it would be crazy to try to do those things on your own when you start having a more complex situation, right? Because there are people out there that it is their business to know those laws in and out, and they change so frequently.
[00:29:26] You need to have somebody who knows what they're doing just so that you don't find yourself in a situation where you have to, like, shut down the business or you owe more than you've made in a year, 'cause that has happened before.
[00:29:40] Kym: Oh my gosh, that would be a total nightmare. Yeah.
[00:29:42] Emily: but I don't want the complexity of those things to discourage you from living your life well.
[00:29:49] You know what I mean? And that, for us, is why we started the firm the way we did, is because we knew that people needed this, and we knew that this is something a lot of people trip up on and get overwhelmed by and, like, don't do things fully because they just don't know. And we kind of take that out so you don't have to do it alone, and we partner with you in that way.
[00:30:12] Kym: Love it. that's so awesome. Yeah. Well, thank you very much. So where do they find you? If people are listening, they're like, "I need that in my life."
[00:30:19] Emily: Sure. You can find us at thornadvisors.com, and I can share a gift with you guys, and it is the five most common cash leaks, as well as the five tax deductions most people miss. And so that is at thornadvisors.com/cashleaks. And these are those things where you can kind of get that quick win that's like, "Oh, this is tax strategy.
[00:30:46] Oh, this is cash flow." Like, these are those things that, like, you can do on your own, or you look at it and you're like, "I can't do this on my own." And then you're like, then call us. Book a call with us. We love to simplify things that feel complicated.
[00:31:03] Kym: Amazing. Gosh, you guys sound awesome. Thank you so much for taking the time and coming today.
[00:31:08] Emily: Thanks for having me. I just love this
[00:31:10] Kym: Oh, thank you. Thanks a lot