Casey Moss Tax & Accounting

Tax Accounting and Bookkeeping Services for Private Practice Therapists

Why Are Accounting and Bookkeeping Important for Private Practice Therapists?

Therapists have many unique accounting and tax needs that require industry-specific knowledge. Having accurate accounting and bookkeeping done throughout the year allows therapists to keep an eye on their numbers, plan for taxes, and ensure that no income or expenses are missed. Some industry-specific accounting and tax needs are as follows:

  • Income recognition: Determining how and when you recognize income from both private billing and insurance billing.
  • Qualified business income deduction (QBI): Figuring out if your business is eligible for this deduction, as well as the implications of the limitations for specified service businesses.
  • Invoicing clients and patients: Ensuring that you are getting paid for your services by sending invoices directly to clients without insurance and making sure amounts billed to insurance companies are properly accounted for.
  • Reasonable salary calculations for S-corporations: For therapists that are taxed as s-corporations, determining a reasonable salary for owners that is in line with other therapists in your area.

Private Practice Therapist Accounting Services

Therapists that operate private practices have specific accounting needs that must be addressed carefully. When operating a private practice, there are additional expenses involved that need to be accounted for correctly. These can include things like office space, equipment purchases, home office deductions, vehicle and travel deductions, and many more. Involving an expert with industry-specific experience will ensure you are deducting everything you are entitled to while allowing you to focus on growing your business.

Bookkeeping for Therapists

Therapists have very unique bookkeeping needs. For example, they are required to keep certain documents related to income and expenses to ensure IRS compliance. Many therapists also need to invoice patients and clients directly. Allow Casey Moss Tax to provide an efficient, simple way to invoice your clients and keep your books in order. Our full-service bookkeeping package will also track your expenses for you, allowing you to focus on what you do best.

Therapist Tax Preparation Services

If you are a self-employed therapist, it is critical that you get your taxes done right. Whether you are an s-corporation or a sole-proprietor, tax preparation requires an expert with knowledge that is specific to your industry. With a service-based business such as a therapy private practice, it can be difficult to tell what the IRS allows for tax deductions and income recognition. Here art Casey Moss Tax, we will guide you through the basics and also help you consider more complex tax issues, such as the qualified business income (QBI) deduction.

Therapist Payroll Services

If you own or operate a private therapy practice, you almost certainly have a need for payroll services. Whether you employ additional therapists as contractors who need 1099’s or have staff members that require W-2’s, Casey Moss Tax has you covered. Our full-service payroll team will process your payroll, pay your payroll taxes, file your quarterly payroll tax forms, and file/send your year-end W-2’s and 1099’s to your workers. Payroll can be a headache. Let us take this responsibility out of your hands so you can focus on more important aspects of your business.

Get Back to What Matters Most with Casey Moss Tax and Accounting!

As a therapist, you don’t need to be wasting time learning about tax laws and what receipts you should keep. You went to school so you could help people, and we went to school so we could help you! Our full service bookkeeping and tax services will allow you to run your business while we take care of all of the paperwork. 

Are You A Therapist In Naperville, Illinois?

Contact us today! We work with many therapists in Naperville and the surrounding suburbs. We have industry-specific knowledge related to tax and bookkeeping, and are Illinois tax law experts. Book an appointment today to see how we can help you!


Not located in Naperville? No problem! We offer completely virtual bookkeeping and tax services. We can communicate over Zoom and stay on top of your books with our cloud-based accounting software. If you need a bookkeeper or tax accounting, reach out today to get started!