I’m often asked by clients if it’s better for them to be filing their tax returns jointly or separately. Let’s take a few minutes to review your options in this regard, and highlight the pros and cons of each. First of all, you may not even realize that you have a choice in the matter. …
Should You Be Filing Taxes Jointly or Separately? Read More »
Maintaining a cash reserve is essential for the sustainability of your mental health practice, especially during unexpected income fluctuations such as the recent United Healthcare data breach which shutdown the processing of insurance reimbursements for many practitioners. Here are some practical strategies to build up a cash reserve and protect your practice during uncertain times. …
Five Tips for Building a Cash Reserve in Your Mental Health Practice Read More »
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 …
New Federal Filing Requirements May Subject Business Owners to Hefty Fines Read More »
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 …
The ABCs of Estimated Taxes for Mental Health Pros: Why You Can’t Afford to Ignore Them Read More »
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 …
Deep Dive Into Inflation Reduction Act Tax Credits Read More »
