76 Bookkeeping for Therapists: Navigating Your Taxes in 2024

Texas Counselors Creating Badass Businesses

Embark on a journey to seamless tax management with Dr. Olivia Wedel, a beacon of wisdom in the labyrinth of tax law for professional counselors. Feel the empowerment course through your veins as we dissect the essentials of record keeping, navigate the chasms between 1099 and W-2 positions, and unpack the ethical considerations that are pivotal to your practice. Dr. Wedel brings her rich tapestry of experience to the table, ensuring you'll come away with a toolkit brimming with strategies to make peace with the IRS and keep your financial health in check.
Let's shift gears and explore the linchpin of business success: unshakeable organization and meticulous planning. Learn how honing your skills through training and education isn't just a career-booster; it's a lifeline for ensuring compliance with professional standards and laws. I'll illuminate the paths of setting competitive hourly rates and forecasting annual expenses, ensuring that every step you take in your private practice plants you firmly on the ground of prosperity.
Finally, we chart the territory of business entities and tax preparation, where choices like PLLCs, LLCs, and S-Corps shape your fiscal landscape. With recent changes stirring the federal waters on worker classification, understanding these nuances has never been more crucial. Dr. Waddell and I will guide you through the maze, offering financial tips and sage advice for managing your practice's wellbeing, striking the perfect balance between deductions and solid business decisions. Tune in for an episode that transforms daunting tax tasks into a mastered craft, exclusively for our dedicated listeners.

Get your step by step guide to private practice. Because you are too important to lose to not knowing the rules, going broke, burning out, and giving up. #counselorsdontquit.

Kapitler

1. 76 Bookkeeping for Therapists: Navigating Your Taxes in 2024 (00:00:00)

2. Tax and Business Best Practices (00:00:19)

3. Business Success Through Organization and Planning (00:14:15)

4. Record Keeping and Estimated Taxes Importance (00:26:24)

5. Small Business Structure and Tax Preparation (00:39:51)

6. Business Consulting and Financial Tips (00:53:11)