At GreenOak Accounting, we work with private practice owners every day—and one thing we see over and over is that HR is often the last  thing on your mind when you start hiring. But having good HR support isn’t just for the big companies. It’s what keeps your team happy, your practice protected, and your business moving forward. But let’s get something straight right out of the gate: HR is not accounting, and it’s not legal. As an accounting firm, we know exactly where our ex

Happy (almost) Halloween, practice owners! 🎃 The candy bowls are out, the skeletons are hanging in your neighbor’s yard, and everywhere you turn, someone’s in costume—sometimes even in your inbox. But did you know that the spookiest  tricks this season might not be coming from little goblins at your door, but from scammers looking to grab a piece of your hard-earned business profits? Nope, this isn’t a ghost story—it’s just good business sense! Today, we’re walking through s

Every physical therapy practice grows through five main stages—and each one comes with its own financial opportunities (and pitfalls). At GreenOak Accounting, we know that keeping your eye on the right financial moves at the right time can make all the difference between barely getting by and truly thriving. Here’s what to expect—and what to do—at every stage of your practice’s growth. Stage 1: Basics and Solvency Starting your practice is all about survival—and your very fir

Learn how to read and use financial reports—P&L, balance sheet, and cash flow statements—to grow a profitable physical therapy practice. Expert advice from GreenOak Accounting.

Discover the true startup costs of growing your PT group—time vs. money debt—and how to build a profitable, sustainable physical therapy practice.

What if we told you that building a profitable practice doesn’t start with spreadsheets, EHRs, or finding the perfect office space—but with a calculator, a little visioning, and some strategic reverse engineering? No, it’s not magic. It’s just math. Too many therapists build their practices by accident. They start solo. Cash pay practice owners pick a rate based on what feels “reasonable”. Some will say yes to every expense that comes their way in the name of “you have to spe

Why they matter, how they work, and what your accountant really needs to know to help! Taxes might not be the most glamorous part of running a private practice, but they’re a critical  part of making sure your business stays healthy, sustainable, and profitable. If you’re a therapist in private practice—whether solo or group—there’s a good chance you’ve heard the term “estimated taxes.”  But what exactly are  estimated taxes? Why are they so important? And why do they never  

If you’ve ever Googled “Who should do my taxes?” you’ve probably seen a whole alphabet of professional titles pop up: CPA, EA, tax preparer, accountant... It’s enough to make your head spin. While most people are familiar with CPAs (Certified Public Accountants), there’s another highly qualified—and federally licensed—accounting professional you might not know much about: the Enrolled Agent (EA) . And if your accountant is an EA? You’re in very capable hands. What Exactly Is

If you're a therapist in private practice, you may have heard rumblings about a new tax bill making waves in Washington. It’s called the One Big Beautiful Bill Act  (yes, really), and while the name might sound a bit over-the-top, the tax law changes it introduces are very real—and very relevant to you as a business owner. While the IRS hasn’t released final guidance or updated tax forms yet, there are already several key takeaways you should be aware of as you plan for the r

Hiring is one of the most exciting parts of growing a group practice. It means more clients served, more revenue potential, and a bigger impact. But there’s a key mistake we see even the most thoughtful practice owners make: They plan for growth... but forget about attrition. If you’ve ever said something like, “I want to add 8 new clinicians next year,” you’re not alone. That’s a fantastic goal—but unless you account for the team members you’re likely to lose along the way,

Hiring a part-time clinician might seem  like a safe move. They're not relying fully on your practice, and that can feel like less pressure on you. Maybe you think it’s easier, more flexible, or even financially savvy. But here’s a surprising truth we see all the time: part-time team members often cost more  than they bring in. And not just in dollars. If you're growing a group practice, it’s time to take a closer look at what it really means to hire part-time. 📃 Same Softwa

When I sat down to write Profit First for Therapists  nearly four years ago, I had no idea what was coming. I certainly didn’t have a crystal ball. I just knew one thing for sure: therapists needed a system. A system that put their financial well-being at the center. A system that was simple enough to start with, strong enough to sustain growth, and wise enough to weather the storms of private practice. Now, here we are— 14,000+ copies sold  and two years into publication —an

If you’ve been watching the headlines lately, you’ve probably seen the news about new tariff announcements and the resulting turbulence in the stock market. Even if you don’t consider yourself a “financial person,” it’s hard not to feel a little unsettled. When big economic changes hit the news, it can trigger all kinds of questions — especially when you’re responsible for running a business. You might be wondering things like: “Is my practice at risk?” “What happens if my re

Here’s What You Need to Know! As a private practice owner, you’ve probably invested a lot of time, energy, and passion into building your business. But at some point, every therapist reaches a stage where it’s time to think about the next chapter—and while in some cases that means retiring, pursuing a new passion, or just stepping back—in many cases it means selling your practice. That’s where exit planning comes in.  Exit planning is all about preparing for a smooth transiti

Hiring is one of the most critical decisions you make as a practice owner. It’s not just about filling open spots on your team—it’s about planning for sustainable growth, managing attrition, and making sure your practice thrives for years to come. Whether you’re building a team for the first time or scaling an established group practice, having a clear hiring strategy can make all the difference. Let’s break down how to plan for success. Budgeting for Hiring: It’s Just Math B

The barriers to starting a solo practice have never been lower. With a few clicks, a therapist can set up a website, join a telehealth platform, and start taking clients. But while it’s easier than ever to start a private practice, that doesn’t mean it’s a road paved with rainbows. Running a practice is hard work . Many solo practitioners find themselves working long hours for less pay than expected, barely breaking even in their first year. And let’s not forget that a practi

Starting a solo therapy practice is an exciting and rewarding journey. But in the early stages, it’s not uncommon to feel like your finances are stretched to the limit. Perhaps you're balancing your practice with a full-time job, or maybe you’ve just started seeing a handful of clients each week and are barely covering expenses. That’s okay. Implementing the Profit First  system—even in small steps—can help you prioritize your financial health and set your practice up for lon

Owning a thriving private practice is an incredible achievement! As your hard work pays off and the practice becomes more profitable, it’s natural to want to enjoy the rewards. After all, one of the ultimate goals of running a business is to create financial freedom and stability—for your business and  yourself. But there’s a sneaky trap many successful practice owners fall into: lifestyle creep.  It can happen to anyone, and it often starts without you even realizing it. Thi

Hiring is one of the most exciting (and nerve-wracking) parts of growing a private practice. It’s your chance to bring in amazing new team members, grow your impact, and expand your business. But deciding whether to hire therapists as employees or contractors? That can get a little tricky. Over the years, rules around hiring have shifted, and in 2024, it’s harder than ever to justify hiring therapists as independent contractors. But why? And what does that mean for your pract

The Therapist’s Guide to Tax Deductions: Whether you’re just getting familiar with the concept of tax deductions or looking for those hidden