Use this cheatsheet to maximize your deductions and save money on taxes for your therapy practice.
Tax season is behind you. If you ended up with a bigger bill than expected, or you have a feeling you missed deductions, there's usually a reason. Here's what to do about it.
If you used Safe Harbor to calculate quarterly taxes, your payments were based on last year's income. When earnings grow, that gap shows up as a bill in April. Understanding the rule means you can use it, not be caught by it.
The Safe Harbor rule for therapists
How it works, when it helps, and when it backfires
When business and personal spending share the same account, write-offs get lost. You can't claim what you can't find. This is the most common reason therapists leave money on the table.
Typical deductions — mixed vs. separate accounts
Do therapists need a business checking account?
The short answer is yes. Here's why it matters
How to choose a checking account for your practice
What to look for when you're ready to set one up
April is done. Q2 estimated taxes are due June 16. That's enough time to get your books in order, adjust your payments, and stop guessing.
Download the tax deduction cheatsheet
A quick reference for everything you can write off