Maximize your tax savings with the Heard Tax Hub
Explore articles, guides, and tools developed by our team of tax pros to help you navigate tax season with confidence as a self-employed therapist.
Tax Deadlines
Here are important deadlines for the 2023 tax season you need to know about.
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Tax Articles and Guides
Find fact-checked articles and guides for every tax entity type.
Taxes 101
Tax deductions
Notices and penalties
For 1099 contractors
For sole proprietors
Tax Resources
Prepare for tax season with our free checklists, cheatsheets, and calculators.
Preparing for 2023 Tax Season Webinar
Learn practical tips and strategies to prepare for tax season.
Home Office Deduction Calculator
Calculate how much you can write off for your home office.
Tax Deduction Cheatsheet for Therapists
Maximize your deductions and save money on taxes.
Tax FAQs
Get answers to your most common tax questions as a self-employed therapist.
Do I have to file taxes as self-employed therapist?
Yes, most likely.
According to IRS guidelines, self-employed individuals are required to file an annual tax return if they had net earnings from self-employment of $400 or more.
Read more about how much you have to earn to pay taxes as a therapist.
How do I file taxes as a self-employed therapist?
How you file taxes depends on your tax entity type.
If you’re taxed as a sole proprietor, then you’ll file Form 1040 and use Schedule C to report your income and expenses from your business.
If you’re taxed as an S corporation, then you’ll file Form 1120-S for your business tax return and Form 1040 for your personal tax return.
Where do I file taxes as a self-employed therapist?
You’ll file a federal income tax return with the IRS (online or mail) and a state income tax return with your state (online or mail).
Read our guide on how to pay income tax in every state.
Will I be penalized if I didn’t pay quarterly taxes as a self-employed therapist?
It depends.
The IRS requires you to make quarterly estimated payments if you have a tax liability of $1,000 or more. If you didn’t pay quarterly taxes this year and you owe more than $1,000 in taxes, then you may be penalized.
Can I file an extension as a self-employed therapist?
Yes, it’s common to file an extension.
The deadline to file Form 4868 and request an extension for sole proprietors is April 15, 2024. The deadline to file your extended return is October 15, 2024.
For partnerships and S corporations, the deadline to request an extension is March 15, 2024 and the deadline file your extended return is September 16, 2024.
Tax filing, specifically for self-employed therapists
We specialize in therapy practices, so you can trust we’ll find every deduction to lower your tax bill. Schedule a free consult to learn more.