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…

Managing quarterly taxes in your therapy practice can feel like juggling too many things at once… Clinical hours, client care, business finances, and staying on top of IRS rules. For most therapists and mental health professionals, this part of running a business isn’t the most exciting, but it’s critical for avoiding penalties, protecting your cash…

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…

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…

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…

  Why raising rates is essential for your private practice Raising rates in a private practice is about sustaining the quality of care you provide and ensuring your practice remains financially viable. While discussing rate increases with clients can feel uncomfortable, it’s a necessary step to keep your therapy practice growing. Impact of inflation and…