Profitability – it’s the end goal for most business owners, the key marker of success. Yet, in traditional accounting practices, profit often gets sidelined, treated as the remainder after all expenses have been taken care of. This is where Profit First Accounting, an innovative financial management system, comes into play. Unraveling Profit First Accounting The…

Running a mental health private practice is no different from running any other business. And just like any business, it’s crucial to maintain accurate accounting records. Sadly, many mental health practitioners tend to make common accounting mistakes that can hurt their business. These slip-ups may be common, but they can be costly. So it’s vital…

When it comes to finding a CPA for therapists, it’s crucial to have someone who understands the ins and outs of your unique accounting needs. Accurate accounting practices and staying on top of industry-specific regulations are very important for your therapy practice’s success.  As a therapist, you’ve got specific financial considerations like industry-specific regulations, tax…

When it comes to managing the financial aspects of your medical practice, partnering with a CPA who specializes in the medical profession can be a game-changer. This would ideally be someone who only possesses a strong financial background but also in-depth knowledge of the specific challenges faced by medical practitioners.  In this article, we’ll explore:…

Medical practices, like any other business, need proper accounting practices in place in order to be successful and thrive over the long term.  In fact, not doing your due diligence when it comes to your accounting can cause your practice to fail financially. Taking the time to optimize your practice’s accounting leads to: In this…

As a business owner, it’s important to understand the accounting essentials that will help you get a handle on your business finances. Accounting, while it may not be your favorite thing in your practice to do, provides insight into how well your business is running and helps you make informed decisions. You have a lot…