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

You’re out to lunch with a friend who snags the bill, slips her business AmEx into the check-holder and boldly states, “It’s on the company.” Except it’s not actually that  simple. How do you know if something “counts” as a business meal - and therefore as a business tax deduction? To get to the bottom of it, you’ll need to consider the   purpose of the meal, and who is benefitting from it. Business Owners & Personal Expenses Just because you’re a business owner who purchased

A recent Washington Post  article has me fired up. The article highlighted how insurance lobbyists have managed to block new rules that would require financial planners to put their clients' needs first. Can you believe that? They’re fighting against rules that would protect people from getting bad advice. It’s frustrating, to say the least. As someone who works with therapists in private practice, I’ve seen too many situations where therapists have followed financial advice

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

Starting a private practice is an incredible journey filled with both excitement and challenges. At GreenOak Accounting, we've seen countless therapists pour their hearts into their work, only to encounter financial hurdles that they didn't anticipate. It's easy to get caught up in the passion of helping others and forget to take care of your own financial needs. But here’s the truth: prioritizing your financial stability is not selfish; it’s essential. Without a solid financ

There are two things that a business owner MUST grasp to meaningfully participate in their business decisions

At some point, nearly every practice owner considers the prospect of exiting their practice. Whether you're looking forward to...

As we celebrate the first anniversary of my book's release, I'm thrilled to take you behind the scenes of the self-publishing journey...

I've heard from many practice owners that they are worried about making payroll next week . Many of our accounting clients are in a...

As a business owner, I’m sure you’ve heard the titles of different financial professionals from the first day you opened your doors, but...

If you’ve ever interacted with a toddler, or a teenager, or anyone with extreme opinions, you probably know that ‘reasonable’ isn’t a...

Need a speedy refresher on 1099s? Look no further! Quick Facts: Forms 1099 must be issued by January 31st (and filed with the IRS too!)...

A couple blog posts ago, I discussed the things that you could do to start preparing for year end.  Things like gathering all relevant...

If you’ve tried to hire over the past several years, I’m sure you’re very aware of how difficult it has been to hire. Between finding...

Are you horrified by the fact that it’s almost year end? Every time I schedule a new meeting for the next month, I’m stunned that I have...

Over the last year, we’ve seen a return to pre-Covid dips and lulls in the therapy industry. If you started your practice after 2020...

On first impression, starting a group practice with a friend sounds like a fantastic idea, and a good way to split the risk and...

Should I hire part-time clinicians? While it may seem like a great idea to compile a staff full of part-time clinicians, it can be...

We all know that taxes can be a bit of a headache, but fear not, because today we're here to shed some light on what happens to your...

I get this question a lot, “Do I also need my EHR if I have Quickbooks?” The answer is yes, as good as both of these software are, they...