22: A Few Thoughts About Taxes and Speech Therapy Private Practice

Welcome to the first episode of 2017! When a new year starts, the subject of taxes usually comes up. When you own a speech therapy private practice, you are responsible for making timely income tax and employee withholding payments to Federal and State governments. In this episode, I discuss 1099s, employee withholding, quarterly filings, quarterly payments, account reconciliation, profit-loss statements, and a simple solution that can make make the whole process easier for you.

In this episode:

01:12 – Over 9447 listeners

02:08 – Only one space available for the Perfect Student

03:20 – Tax Time

03:48 – Xpense Tracker

05:22 – The 1099 shuffle

07:04 – Certified Tax Preparer

08:01 – Monthly meetings with a Tax Preparer

08:14 – Quarterly Payments to the IRS and State

08:34 – More about filing withholdings

Don’t forget when you have a Speech Therapy Private practice and you take insurances or access plans or Medicare, when you get payment from those insurance companies, you’re going to get a 1099 in the mail at the end of the year. And it’s your job to make sure that the IRS knows how much money that you have coming in.

[Commercial]

Well, Hello everyone! You’re listening to the Speech therapy Private practice Startup Podcast; this is episode number 22. My name is Kyle Meades and I’m a speech pathologist since 1993 and these podcasts are designed to help you improve your business and your life one podcast at a time.

Welcome back to the show everyone, Happy New Year. As of today, today is January 8th 2017 we have over 9447 listeners to the show. I really appreciated it because when we first started a little over a year ago we only have two listeners. And you two listeners know who you are. And I appreciate you guys hanging in there and telling your friends and colleagues because we have listeners all over the world now, from the United states, United Kingdom, Australia, Canada, India, Israel, Philippines, South Africa and Turkey. Now when it comes to the United States breakdown. The biggest and highly listened states are California, Texas, Arizona, New York, Florida, Illinois, Pennsylvania, Massachusetts and it goes on and on. I am grateful that you guys are out there and I appreciate the opportunity to help you and give you that valuable information so you can grow, scale and develop your own Speech therapy private practice.

Also I wanted to tell you I do have one space available for the Perfect student and the Perfect student is where you can come in to Tucson, you can fly in at your own expense and learn from me and work side by side with me. I’ll show you everything you need to now about an Outpatient clinic or a Home health agency or both. And that’s where you have direct access to me. We can work weekly via Skype or GotoMeeting and have calls. I can show you all the things you need to know to grow, scale or even start your own Speech therapy private practice. But its got to be a good fit because I get a lot of emails from people who want to start their own Speech therapy private practice but they’re just not ready yet. So when you do contact me please go to privateslp.com/contact there you can reach me and I wanted you to give me as much information as possible about you and where you are in your Speech therapy private practice journey. Are you just starting out?