Category: Accounting
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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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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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How Accountants Help Therapists Manage Quarterly Taxes Without Stress
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…
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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…
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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…
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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…