Author: David Leichter
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How to Balance Personal and Business Finances as a Therapist
As a therapist, you spend your days helping others find clarity. But when it comes to your own finances, things can start to blur. It’s common for therapists, especially in private practice, to mix personal and business money without realizing it. One account for everything. A few Venmo transfers here and there. Groceries and office…
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What to Look for in an Accountant Who Specializes in Therapy Practices
Managing a therapy practice means more than seeing clients. Taxes, bookkeeping, and financial planning can pile up quickly if you do not have the right support. Choosing an accountant who understands your business protects your practice finances, saves time, and helps you make better long-term decisions. Why Your Therapy Practice Needs the Right Accountant Therapists…
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From Sole Proprietor to LLC or S-Corp as a Therapist: What You Need to Know
Running your own therapy practice is rewarding, but the business side can feel overwhelming. Many therapists start as sole proprietors because it’s simple: you report your income on Schedule C and you’re in business. But as your private practice grows, you may wonder if switching to a Limited Liability Company (LLC) or S corporation (S-Corp)…
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Should Therapists Use Cash or Accrual Accounting? A Quick Guide.
Running a therapy practice means more than focusing on sessions with clients. Behind the scenes, your method of accounting changes how your income, expenses, and tax return look. It also impacts how you manage money, view your financial health, and plan for the future. Choosing between cash basis accounting and accrual accounting for therapists is…
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5 Reasons Therapists Need a Bookkeeping Team
While the main goal behind running a therapy practice is helping clients, it involves a lot more than that. It also means managing behind-the-scenes details: money, records, taxes, and the decisions that shape your long-term stability. These can easily get complicated, but that’s okay. As a therapist, you were trained to help patients — not…
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How Therapists Save Thousands with Professional Tax Preparation
Most therapists I’ve worked with are excellent at caring for clients, but when tax season comes around, the stress is real. Taxes for a therapy practice are complex. Between quarterly taxes, business expenses, self-employment taxes, and keeping track of deductions, it often feels like you’re fighting an uphill battle. The good news is you can…