Accountable plans help businesses to optimize their tax footprint, especially for home office deductions. What is an accountable plan? It allows for the reimbursement of legitimate business expenses incurred with personal funds. Think home office setups, mobile phone bills, and even mileage. The key factor? Reimbursements are tax-free for the employee and deductible for the company. …
A new wave of bank accounts caters specifically to businesses like yours, making it easier than ever to stay organized and efficient. If you’re like I was for many years, you may be using the first business bank account you saw in an advertisement. As our businesses grow and our needs grow with them. Relay …
Streamlining Finances: Bookkeeper-Friendly Banks for Your Practice Read More »
There are several reasons why someone may choose to sell their private practice business, including: Retirement: If a practitioner is nearing retirement age or looking to transition into a new phase of their life, they may choose to sell their practice to someone else. Financial reasons: Selling a private practice can provide a significant financial …
You’ve done all the right things! Applied and accepted to grad school: Check Graduated with an advanced degree: Check Knocked out all your requirements for licensure: Check Started a private practice: Check Actually found paying clients: Check You’ve done everything you were supposed to do and yet… you’re not seeing the numbers on your bank …
Therapists! When you’re doing things right, but the money is tight. Read More »
Takeaway: Starting a private therapy practice can be empowering–and also completely overwhelming. If you’re not sure where to start, our checklist can walk you through the entire process of how to start private practice so you can do so with confidence. Many therapists dream of opening their own practice one day. The financial freedom, ability …
How to Start a Private Practice in Counseling: 2023 Checklist Read More »
Takeaway: As a therapist, you want your office space to reflect your personal and professional style, all while making your clients feel comfortable. In this post, we share our top therapist office decorating ideas to help you feel inspired. With mental health awareness on the rise over the past several years, more and more people …
There are a few different factors to consider when coming up with a name for your private therapy practice: If there’s a chance you want to have a group practice or sell the business down the road, it may be wise to use a brand name (Wise Path Counseling LLC) instead of a personal name …
Therapy Practice Names: How to Name Your Private Practice Read More »
Hiring is the hardest part of being a private practice owner, because it takes thought, planning, and practice to get right. The truth is, unless you’re lucky, you’ll run in to challenges with your hiring and employees throughout your time as the boss. These issues can typically be traced back to the hiring process, so …
How to Hire a Therapist for Your Private Practice: Do’s and Don’ts Read More »
If you’re a therapist running a your own practice, you may be wondering how much you should be spending on marketing or advertising; if at all. For some, marketing is essential to the continuity and growth of their business, especially group practices. For others, they just need to ensure they maintain a small waitlist …
Bookkeeping for Therapists: Private Practice Accounting Solutions In the business of mental health therapy and coaching, professionals are usually focused on their clients and providing the support that they need. This is good, of course, because that’s their job. However, for those private practice owners and independent therapists, running the business will also be a …
Bookkeeping for Therapists: Private Practice Accounting Solutions Read More »
