The Private Practice Academy Podcast
Are you a psychologist looking to create a sustainable and profitable private practice, but you’re intimidated by how much you need to learn and worried about sacrificing your freedom in the process? Join Kerstin Anderson-Ridge, a clinical and counselling psychologist and business mentor, as she shares her journey and interviews other therapists to share theirs too. If you want to create, build and sustain a profitable private practice, this show is for you.
The Private Practice Academy Podcast
13. Accounting Essentials for Building a Profitable Private Practice with Phil from Panic Atax
Did you know that I used to be an accountant? Accounting and psychology might seem like completely different career paths, but my accounting days set me up to understand the importance of being across your financials in your business as a private practice owner.
Phil, an accountant with Panic Atax, is a wealth of knowledge (pardon the pun) when it comes to financial planning, tax, managing cash flow and so much more.
In this episode, he shares with us:
- The importance of financial planning and having an accountant for your private practice
- Budgeting, taxes, expenses and running a business profitably from a financial perspective
- Asset protection and tax planning strategies for different business structures
- Managing cash flow, leave pay, sick leave and holidays
- The different roles of a bookkeeper versus an accountant and importance of their collaboration
- Using business data and financial trends to identify and plan for potential problems early
Visit the Panic Atax website here.
Find out how to work with me: https://www.privatepracticeacademy.com.au/services
FREE content ideas for psychologists: https://www.privatepracticeacademy.com.au/content-ideas
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