Business Articles for Therapists & Other Practitioners
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Extension time: What to do on the March 15 S-corp tax deadline
What You Need to Know If you own an S Corporation (S-Corp), the annual federal tax filing deadline is March 15. S-Corps don’t pay federal income taxes directly. Instead, profits and losses pass through
Extension time: Your Apr 15 responsibilities
Extension time: Your Apr 15 responsibilities as a taxpayer Many of our customers file their taxes by Apr 15. Many file an extension and finish their taxes by the extended deadline on Oct 15,
Income statements and balance sheets for your business: Understand them in 8 minutes
We love helping you save on your business taxes. Having these two statements gets us both off on the right foot when preparing those taxes accurately and efficiently. 1. Recommendation: Use QuickBooks QuickBooks is
Wave App’s stance on PHI and HIPAA compliance – Protecting client data and running your practice smoothly
Wave is a tool we’ve recommended many times. It’s simple and fast. It’s easy to understand. Overall, we like its features for the price at least as well as Quickbooks, if not much better.
New Requirement for Small Businesses: the Beneficial Ownership Information Report
Starting January 1, 2024, most small businesses will have to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network. What is the BOI report? It is a report that
Public Information Reports in Texas: Beyond Franchise Tax Reports
Texas businesses have long been familiar with the annual requirement of filing franchise tax reports. However, recent changes in regulations have eliminated this obligation for many businesses. Despite this, one crucial document that continues
Home office deductions: Accountable Plans
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
Streamlining Finances: Bookkeeper-Friendly Banks for Your Practice
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
Ever considered selling your Private Practice?
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,
Therapists! When you’re doing things right, but the money is tight.
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
How to Start a Private Practice in Counseling: 2023 Checklist
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
Therapy Office Decor Ideas in 2023
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
11 Best Self Employed Therapist Tax Deductions in 2023
Takeaway: Figuring out your taxes and finances can be overwhelming, especially when you have your own business. In this post, we share some insider tips that can help you make sure you’re getting all
Therapy Practice Names: How to Name Your Private Practice
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
How to Hire a Therapist for Your Private Practice: Do’s and Don’ts
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
How Much Should I Spend On Marketing Or Advertising for My Therapy Practice & Non Spend Ideas
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
Should I Use Tax Software Like TurboTax For My Mental Health Private Practice?
I think I should be able to do my own taxes, would you suggest a program? You could certainly use TurboTax or TaxAct. Both are user friendly. However, it’s not ideal to do it
Bookkeeping for Therapists: Private Practice Accounting Solutions
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
Pros & Cons of a Group Private Practice
Takeaway: You’ve made the decision to venture into private practice–now it’s time to decide whether you want to start a solo practice or join an existing group practice. There is no right or wrong
How To Calculate & Pay Quarterly Estimated Tax Payments For Your Therapy Private Practice
Quarterly Tax Payments – Paying quarterly taxes is one way to make sure you’re giving the Internal Revenue Service (and state) enough money during the year to avoid owing them a lump sum at filing time –
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Extension time: What to do on the March 15 S-corp tax deadline
Extension time: Your Apr 15 responsibilities
Income statements and balance sheets for your business: Understand them in 8 minutes
Extension time: What to do on the March 15 S-corp tax deadline
Extension time: Your Apr 15 responsibilities
