Author: David Leichter
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Financial Red Flags Therapists Shouldn’t Ignore in Their Practice
Running a therapy practice means balancing care for your clients with care for your business. When your attention is pulled toward sessions, notes, and client needs, it’s easy for small financial warning signs to slip through the cracks. Aside from providing excellent mental health support, a healthy therapy practice’s success also depends on strong financial…
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What Is Accounting for Therapists? A Beginner’s Guide to Managing Your Finances
If you run a therapy practice, you already know how much energy it takes to care for clients, manage appointments, and keep up with documentation. But behind the scenes, there’s another layer that can quietly make or break your business: accounting. Understanding your money doesn’t mean you have to be an accountant. It means: Let’s…
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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…