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)…

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,…

You spent years studying mental health, human behavior, and how to guide clients through trauma and transformation. But no one gave you a manual for building a sustainable business. Financial planning? Tax strategy? Retirement plans? None of that was on the syllabus. Many therapists steer clear of financial professionals. Some think it’s too expensive. Others…

A private practice incurs a wide range of business expenses, including office rent, utilities, administrative tasks, and marketing costs. As a business owner, you have to track deductible business expenses carefully to ensure compliance with tax regulations and optimize financial performance. Understanding the differences between deductible expenses and personal expenses will help you separate business…

Running a therapy practice extends beyond client care. Financial challenges like a slow season, a decline in client appointments, or unexpected expenses such as office repairs or software upgrades can quickly disrupt cash flow. Without proper financial planning, these situations can lead to stress, debt, and difficult financial decisions. That’s why you need an emergency…

Financial stability in private practice requires strategic financial planning, informed decisions, and a business-minded approach. Without a structured financial strategy, therapists may find themselves overwhelmed by operational expenses, fluctuating patient volume, and unpredictable income. Implementing key financial strategies such as diversifying income streams, optimizing business finances, and managing operational expenses can help therapist build a…