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New Federal Filing Requirements May Subject Business Owners to Hefty Fines

New legislation, a long time in the works, will finally take effect starting January 1, 2024, and it will impact the vast majority of business owners in the United States. The Corporate Transparency Act, enacted in 2021, mandates additional Federal reporting requirements for most small businesses. Specifically, any new business entity that was formed after …

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The Therapist’s Guide to Hiring: Employee vs. Contractor – What You Need to Know

Hiring your first staff member is an exciting milestone for your mental health practice. Whether you need a part-time receptionist or another therapist, you must decide if they will be an employee or contractor. This decision isn’t as straightforward as it may appear. Let’s delve into the details together, taking a closer look at control, …

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The ABCs of Estimated Taxes for Mental Health Pros: Why You Can’t Afford to Ignore Them

Today we’re going to venture into the often-overlooked realm of estimated taxes. Whether you’re a seasoned therapist or fresh out of grad school, if you’re self-employed, this is for you. When it comes to financial health, understanding estimated taxes is kind of like understanding billing codes for your insurance claims – get them right, and …

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Deep Dive Into Inflation Reduction Act Tax Credits

  If you received our recent newsletter, you know that the Inflation Reduction Act was recently signed into law by President Biden, and there are a number of interesting tax credits that are worth learning more about.  <Insert self-promotion here: If you don’t get our newsletter, feel free to sign-up here!> While the newsletter was …

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Is ERTC the Most Lucrative COVID-Related Stimulus Funding for Your Business?

During the COVID-19 pandemic there was a slew of various relief packages and initiatives passed to help businesses that were suffering, including PPP loans, Economic Injury Disaster Loans and perhaps most importantly – the Employee Retention Tax Credit (ERTC). The one that probably got the most attention were PPP Loans, which provided businesses with loans …

Is ERTC the Most Lucrative COVID-Related Stimulus Funding for Your Business? Read More »

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