TL;DR: Accounting

3 Common Mistakes we see from Therapists New to Private Practice

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Jan

3 Common Mistakes we see from Therapists New to Private Practice

We see 3 common tax and accounting mistakes for therapists in private practice: Only using a Practice Management Software aka not keep track of expenses Not saving for taxes Formed as a sole proprietorship In the video, we discuss some simple solutions to each problem. Download our Steps to creating your PLLC guide TL;DR: If you are doing any of these, don't beat yourself up, correct it moving forward.

SEP-IRA Contributions: Everything You Need to Know

https://youtu.be/Xjew60bp-9Y Have you established a SEP-IRA and are wondering if you’re doing it right? Or perhaps you’re considering establishing a SEP-IRA for you and your employees. Or maybe you’ve never heard of it or otherwise don’t know what a SEP-IRA is. Don’t worry, we’ve got you covered. What Is a SEP-IRA? Let’s start by spelling out the cumbersome acronym: SEP-IRA stands for Simplified Employee Pension - Individual Retirement Account. You’ve probably heard of IRAs before, but even if you haven’t, here are some basic facts about IRAs and SEP-IRAs: First, let’s talk about the two different types of IRAs and…

TL;DR: Steps to a PLLC

Have you read our post on being a PLLC in Washington and realized you need to set one up? Here is our step by step checklist to switch to a PLLC from a Sole proprietorship. TL;DR: Check out the guide and let us know if you have any questions!