There are three common ways to structure a private practice: LLC, PLLC & S Corp. Which is best for your business? We scan your financials to figure out the most tax effective way to structure your private practice.
There are various tax deductions you can make depending on the structure of your practice. Do you use a home office? Do you commute to work? How much do you spend on office supplies? These are all things to take into consideration that may not be top of a mind for a general accountant.
Tax laws around deductions, credits & reimbursements are constantly changing. It's important to work with an accountant that knows the ins and outs of your industry in order to stay full across all benefits & tax advantages for each year's return.
Are you running a private practice?
This is our in-house resource for getting started with your finances in the first year.
We wish starting a therapy practice in Washington was as simple as getting a few clients and slapping an “open” sign on the door. Unfortunately, that’s just not the case. From insurance and licenses to accounting software, you’ll have a lot of ducks to keep in a row.
This article is for only those individuals who pay estimated taxes: Business owners, self-employed people, and others whose income situation necessitates quarterly payments. If you’re