How do taxes work for private practice?

💰TAXES💰...dun dun dun. This is one of the most common topics that I receive questions about...
Well..what if we told you that taxes do not need to be scary?!
The general rule of thumb is to put aside 30% so that you are prepared! But that doesn't always mean that you'll end up paying 30%! Many factors play into your final amount of tax owed.
PRO TIP: Most business expenses are tax deductible! Save those receipts to owe less at tax time. 🤑
While we recommend always seeking out an accountant with experience with private practice, we cover the basics to get your started (and do it legally) in the Start Your Private Practice program!
Want to learn more about how to start seeing private clients without the worry and overwhelm? click on any of the links below - and be sure to subscribe!
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Website: www.IndependentClinician.com
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Programs:
www.PlanYourPrivatePractice.com
www.StartYourPrivatePractice.com
www.GrowYourPrivatePractice.com
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Free Resources:
Private Practice Roadmap: www.startyourp...
Private Practice Success Stories Podcast: independentcli...
Free Training: How to Start Your Private Practice: www.startyourp...
Free HIPAA Forms: www.privatepra...
Grow Your Private Practice Blueprint: www.growyourpr...
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Order Jena’s book, The Path to Private Practice: How Any Speech-Language Pathologist or Occupational Therapist Can Become a Successful Private Practitioner: www.PrivatePracticeBook.com
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About Jena:
Jena Castro-Casbon, MA, CCC-SLP is a speech-language pathologist who ventured into the world of private practice when she’d had enough red tape and restriction from higher-ups who had no idea what SLPs really do with our patients. She started her own practice in a quest for more freedom, flexibility, finances, and family time.
Jena has helped over 15,000 SLPs and OTs find the same for themselves since 2008. Her flagship program, Start Your Private Practice, will help you get your ducks in a row, get legal, and get started. From the decision to make a change to seeing your first clients, and everything in between, this course and community have you covered.
She’s the host of the Private Practice Success Stories Podcast and the author of the book, The Path to Private Practice: How Any Speech-Language Pathologist or Occupational Therapist Can Become a Successful Private Practitioner.
Jena is a wife and mom to two energetic boys and one fluffy pup. She’s passionate about personal development, helping clinicians and clients, and pickleball. Jena is a New Orleans native and current Bostonian.