Most Recent Salary Blog Posts

Therapy Practices: What’s Your Average Sesson Fee (ASF)?

24

Jun

Salary, Therapists

Therapy Practices: What’s Your Average Sesson Fee (ASF)?

As a therapy practice, know that your clients are anything but average. They all have their own feelings, personality traits, needs, and dreams. These are the people you heal, each with their own unique story. While your clients and sessions are anything but average, there are some quantitative metrics that you can (and should!) average. The #1 statistic that you should track is Average Session Fee, or ASF — the average amount of money that you are paid per session. Watch Toni explain Average Session Fees in detail over on our YouTube channel. Why Is It Important to Track…

Year-End Tax Prep for S-Corporations

https://youtu.be/7FSzuG0l0PY There are specific steps you can do at the end of the year to legally reduce your company’s tax liability. As long as the tax reduction is greater than the value of the time and money you put into these steps, it can be great for your bottom line! Indeed, some deductions were specifically put into place by the government in order to incentivize small business owners. Many business owners go on a shopping spree at the end of the year in order to reduce their taxes by taking business expense deductions on what they buy. A few things…

Taking Money Out of an S-Corp: Draws vs. Salary

https://youtu.be/VSnRp2qnXkM When you do business in your own name as a sole proprietorship, there isn’t really such a thing as a “salary” or a “distribution.” Clients and customers pay you, you pay taxes, done and done. As long as you keep your personal and business expenses separate, ideally using separate bank accounts, you’re good. As an S-Corporation, suddenly you have a choice to make every time money leaves the company’s “hands” and gets into yours: is it a draw or a salary? Draws Owner draws: Are usually either for estimated taxes, due to a specific event, or from business growth…