Author: David Leichter
-
The Top Accounting Tools for Therapists Running Private Practices
If you’re a therapist running a private practice, you’ve probably figured out that managing your clients is the easy part. It’s everything else, especially the finances that tends to create stress. From sorting out tax deductions to tracking session payments to staying on top of cash flow, the financial side of your business can start…
-
Tax Tips for Therapists Who Are Expanding Their Practice
Your private practice is growing. You’re hiring, maybe opening a second office, investing in tools and support so you can help more clients. But once your practice starts expanding, your taxes become bigger and more complicated. Whether you’re shifting from solo to group, reinvesting profits, or working across state lines, there are tax decisions that…
-
How Therapists Can Avoid Audit Risks With Accurate Accounting
No one starts a therapy practice thinking about tax audits. But whether you’re working solo or running a growing group practice, your business structure and financial habits can raise red flags, especially with the IRS and insurance companies keeping a closer eye on healthcare providers. The good news? Avoiding an audit doesn’t require fancy software…
-
A Therapist’s Guide to Managing Practice Debt Effectively
How to pay down loans and credit without compromising your practice’s financial health Debt has a way of creeping into private practice. Maybe it started with startup costs. Maybe a slow season pushed you to lean on credit cards. Or maybe student loans have been hanging over your head since day one. However it started,…
-
Top 3 Bookkeeping Mistakes Therapists Make and How to Fix Them
When you’re running a private practice, you’re a mental health professional and a business owner. And while you’re trained to track moods and progress notes, tracking your business finances might feel like a completely different beast. Unfortunately, a few simple bookkeeping mistakes can cause cash flow issues, inaccurate financial statements, and painful tax time surprises.…
-
The Real ROI of Hiring a Bookkeeper for Your Private Therapy Practice
Let’s be honest: you didn’t start your therapy practice because you love tracking expenses and reconciling bank statements. But here’s the thing — your financial health is just as important as your clinical work if you want your practice to thrive long-term. And after decades as a CPA working with mental health professionals, I can…