“Do You Want to be a Practice Owner or a Renter?”

I recently conducted a consultation with an Early Career Psychologist regarding the state of her practice and what future route she should take in her career path.  She was a member of a group practice. She was not one of the practice owners, but rather she was an...

Why accept credit card payments?

If you don't accept credit card payments, you're probably losing money. "What?" you may ask. "Doesn't it cost me money to accept credit cards?" Well, yes and no. You do pay a fee for every credit card payment you process, and sometimes for refunds. Depending on...

It’s The End of the Year: Practice Tax Planning

One frequently asked question by those early in practice is “What expenses are deductible on my taxes?” In my book with Jeff Barnett, Financial Success in Mental Health Practice:  Essential Tools and Strategies for Practitioners we present a list of business expense...