Author: David Leichter
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How to Stay Organized for Tax Season as a Therapist
Tax season can be stressful for therapists in private practice, but staying organized throughout the year makes the process smoother and more efficient. Keeping track of business income, deductible business expenses, and necessary documentation ensures compliance with tax laws, minimizes tax liability, and maximizes deductions. This guide will help therapists establish a system for financial…
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5 Bookkeeping Basics Every Therapist Should Know
Managing a therapy practice is more than just client care. For private practice owners, bookkeeping is essential to keep your finances in order, stay compliant with legal regulations, and maintain financial stability. Therapists face unique challenges, such as managing client billing, handling insurance reimbursements, and tracking business expenses like office rent and therapy tools. By…
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Retirement Planning for Therapists: What to Start Doing Now
Therapists face unique challenges when planning for retirement. Unlike traditional employees, many work in private practices, balancing therapy services with the administrative burden of running a business. Let’s dive into the specific hurdles and opportunities that mental health professionals encounter. Challenges specific to therapists in retirement planning Self-employed/private practice owners vs. W-2 employees Private practice…
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Ensuring HIPAA Compliance for Financial Records: A Guide for Therapists
HIPAA compliance is a cornerstone for mental health professionals. Protected Health Information (PHI), including financial records, must be managed securely to meet legal standards and maintain client trust. For therapists running private practices, this means handling patient records and financial information in a way that prioritizes privacy and complies with the law. Whether it’s safeguarding…
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Improve Work Life Balance: A Guide for Private Practitioners
Balancing a growing private practice and personal life isn’t easy for mental health professionals. As business owners, therapists often juggle client care, administrative tasks, and personal commitments, leaving little time for their own well-being. In this article, we’ll break down actionable strategies to help private practice owners achieve a healthier work-life balance without compromising professional…
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Goal Setting in Private Practice: A Guide for Success
Success in private practice requires intentionality, planning, and actionable steps. This applies whether you’re just starting or seeking to grow your established practice In this article, we’ll explore how private practice owners can set SMART goals, overcome challenges, and achieve sustainable growth while maintaining balance in their personal and professional lives. Why Goal Setting is…