by Pauline Wallin, Ph.D. | Jul 22, 2022 | Business matters
Here are 2 common scenarios that can be a source of bookkeeping confusion for mental health professionals in private practice. For illustrative purposes, these examples assume a hypothetical fee of $200 per hour: 1. Dr. A saw John in therapy for one session. John did...
by Pauline Wallin, Ph.D. | Oct 31, 2020 | Business matters, Office procedures
If you are seeing some or all of your clients remotely, it is good business to process payments electronically, rather than via cash or check. There is a small fee for electronic payments, but the process is efficient and funds are usually deposited into your checking...
by Pauline Wallin, Ph.D. | Mar 4, 2012 | Business matters
How do you decide what to charge for your services? If you participate in insurance networks, you don't have much choice for clients in these networks - although there may be some wiggle room. (TPI members can listen to Dr. Russ Holstein discussing this.) Even if your...
by Steven Walfish | May 1, 2011 | Business matters
Myth: If you do not collect your full fee, you can deduct the difference as a loss on your taxes. Fact: Unless you use a complex "accrual" book-keeping system (which most private practitioners don't) you can only deduct from your income expenses that you have actually...
