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

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

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

Since the pandemic, it’s been easier than ever for therapists to hang their shingle and start their own private practice. At GreenOak Accounting, we work with a lot of therapists in their first year of solo practice, and we want to clear up a few common myths about what that first year might look like.  Myth # 1: You can start a private practice on a shoestring Therapy is a relatively low-cost business to start compared to industries like restaurants or retail, but you’ll sti