Our Latest Articles
There are Riches in the Niches – The Benefits of Specializing Your Therapy Practice
When first launching a private practice, it’s common to want to appeal to as many clients as possible—after all, it…
Billy AngeloThe 3 CPA Relationship Styles: Finding Your Perfect Match for Financial Peace of Mind
Introduction Even the best CPAs and the most dedicated practice owners don’t always mesh well—and it’s not about skill or…
The 5 Hidden Risks of Commingling Business & Personal Finances
What Is Commingling? Commingling is when business and personal expenses are mixed together. If someone looked at your business bank…
How to Build a Financial Advisory Dream Team for Your Private Practice
Imagine avoiding a $50,000 mistake because someone in your network spotted the red flag before you signed on the dotted…
PeteHow to Fill Out a W-4: 4 Simple Steps
One of the most common tax questions I get is, “How do I fill out a W-4?” In typical IRS…
The Perfect Bank Account Setup for Therapists: Simple System for Tax Savings & Financial Clarity
As a therapist running your own practice, managing finances shouldn’t add to your stress. The right bank account structure is…
How To Find The Right CPA For Your Therapy Practice
Running a private practice—especially in mental health or other healthcare settings—comes with unique financial challenges. This is where a good…
Tax Projections: Why December 31st Matters More Than April 15th
For many private practice owners, April 15th looms large as the be-all, end-all of tax season. However, there’s an often-overlooked…
How Much Money Do You Really Need to Start a Private Practice?
So how much money do you really need to start your own practice? Answer: $10,432. Just kidding, you didn’t think…
Do Therapists Need to Collect Sales Tax?
Short answer: No. Providers generally do not need to collect sales tax. Sales tax is determined at the state or…
Estimated Taxes: The Ultimate Guide to Saving for and Paying Estimates
Are you confused and stressed about quarterly estimated tax payments? Believe me, you’re not alone. Private practice owners waste hours…
How to Pay Yourself in Private Practice
Key Takeaways: S-Corp owners must pay themselves a “reasonable salary” to comply with IRS requirements Distributions allow S-Corp owners to…
“Can I Put My Kids on Payroll?”
I’ve answered this question from more practice owners than I care to remember. The answer, as always, is “it depends.”…
Retirement Planning for Therapists in Private Practice
Choosing the right retirement plan is a decision that confuses and intimidates many therapists in private practice. With complex tax…
S-Corp vs LLC vs Sole-Proprietorship: The Complete Guide to Choosing the Correct Entity Type for your Private Practice
There’s one business decision – that you typically only make once – which can have a huge impact on how…
How Therapists Can Avoid Tax Surprises
Tax Surprises: A Therapist’s Worst Nightmare Taxes and surprises don’t mix. For busy therapists juggling client care and practice management,…
Tax Refunds for Therapists: Should You Let the IRS Keep It or Take the Cash?
The Big Question: Take the Refund or Let the IRS Keep It? When therapists receive a tax refund, the natural…
How Creative Therapists Thrive in Private Practice Management
How “Right-Brained” Therapists Can Thrive in a “Left-Brained” Business World As a therapist, your strengths—empathy, creativity, and intuition—are at the…
Most Generous Interpretation: A Powerful Tool for Business Leadership
The Power of Most Generous Interpretation Dr. Becky Kennedy’s Good Inside is a parenting book brimming with insights, but one…
Unlock New Growth: Corporate Partnerships for Mental Health Professionals
The Opportunity in Corporate Partnerships Corporate partnerships are a growing avenue for mental health practitioners to expand their impact and…
Tax Deductions for Mental Health Therapists: What Can You Write Off?
The Big Question: What Can I Write Off? If you’re a private practice owner, one of the first questions you…
Hourly vs. Salary: How to Choose the Right Compensation Structure for Your Private Practice
The Big Question: Hourly or Salary? As a private practice owner, deciding how to compensate your employees—hourly or salary—is one…
What’s a P&L? A Quick Guide for Private Practice Owners
Embarrassed to Ask What a P&L Is? You’re not alone. Picture this: Your CPA or bookkeeper emails you your practice’s…
Masterclass Malarkey: Stop Falling for the Hype
The Masterclass Trap Imagine this: You’re running a successful private practice. Your clients trust you, your team appreciates you, and…
Why Secure Portals Are Worth the Extra Step
You send an email with an attachment to your CPA and they respond, “Can you please upload that to our…
A Guide to Charitable Donations
Understanding Charitable Donations Charitable giving comes in many forms: donating money, decluttering with item donations, or volunteering your time to…
Understanding Tax Brackets: A Private Practice Owner’s Guide to Progressive Taxation
The Truth About Moving Up Tax Brackets Ever heard someone say, “I don’t want to earn more because it might…
Bookkeeper vs. CPA: Who Should Handle Your Therapy Practice’s Books?
Who Should Handle Your Practice’s Books? Managing QuickBooks is essential for any therapy practice, but it doesn’t have to be…
Year-End Financial Planning for Private Practice Owners
Beware of Tax-Driven Spending If you’ve ever found yourself rushing to buy office furniture, technology, or other big-ticket items just…
A Costly Lesson in Coordinating Your Financial Advisors: Tips for Private Practice Owners
The Price of Poor Coordination Picture this scenario: You open a retirement plan for your private practice, start funding it…