Explore the Heard Resource Hub

Discover free articles, calculators, and other resources developed by our team of experts to help you better understand and manage your business and personal finances.

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Articles

Bookkeeping

Learn about bookkeeping, why it’s important, and how to categorize your transactions.

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Taxes

Discover tax deductions for therapists so you never miss a write off.

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Growing a Practice

Learn how to grow your practice and scale your impact.

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Starting a Practice

Explore how to start a private practice with these helpful guides.

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Accounting

Learn the most common accounting mistakes therapists & wellness practitioners make and how to avoid them.

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News

Read the latest news and updates from Heard.

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Featured

Bookkeeping

How to Start a Private Practice as a Therapist

Getting started in prvate practice can be overwhelming. This step-by-step guide explains everything you need to launch your therapy practice, from choosing a business structure and setting your fees to getting your first clients.

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Bookkeeping

The Therapist Tax Center

Taxes can be complex for private practices. This guide explains therapist taxes, entity types like sole proprietorships and S corps, and compliance tips.

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Bookkeeping

Tax Deductions for Therapists

Therapists in private practice can deduct most ordinary and necessary business expenses. This guide explains common deductions like office rent, continuing education, health insurance, mileage, to reduce your taxable income.

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Calculators

Use the free calculators to get the answers you need.

S Corp
Calculate potential S Corporation tax savings for your private practice.
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Fee Setting
Set your session fee to calculate your annual income for your private practice.
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Home Office Deduction
Calculate how much you can deduct on your taxes for your home office.
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Are You Compliant?
Take this 10 question quiz to see where your practice stands on tax and bookkeeping compliance.
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Is your practice ready for S Corp?
S-corps can save therapists thousands in taxes, but they're not right for everyone. See if you're ready.
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Want to save time and money managing your finances?

On average, Heard saves therapists and wellness practitioners more than 60 hours per year in financial record-keeping and over $5,000 per year in taxes. Schedule a free consult today to learn more.

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Resources

Free checklists and cheatsheets

Starting a Business
Business Ownership
Budgeting
Taxes
Other
LLC and PLLC Registration Checklist for Therapists
While the exact procedure varies from state to state, generally speaking, you can use this checklist as a guide to register a Limited Liability Company (LLC) or Professional Limited Liability Company (PLLC) for your therapy practice.
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Marketing Checklist for Therapists
Put these pieces together, and you'll have a full-fledged marketing machine for your therapy practice.
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Private Practice Startup Checklist for Therapists
Starting your own therapy practice can feel like a giant task. The best antidote for overwhelm? Breaking it up into manageable pieces. Use this checklist to prepare your practice for launch.
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HIPAA-Compliance Checklist for Therapists
Use this checklist to ensure your therapy practice is 100% compliant with HIPAA guidelines.
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Relocation Checklist for Therapists
Moving your therapy practice to a new state? Here's everything you need to tackle in one checklist.
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S Corp Election Checklist
Use this checklist as a rough guide to forming an S corporation for your therapy practice. As always, consult with an accountant before taking any steps that could affect your finances or tax status.
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The Heard Independent Contractor Checklist
This resource covers everything you need to know if you are hiring or employing an independent contractor for your therapy practice.
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Budget Template for Therapists
Want to create a budget for your therapy practice, but feeling overwhelmed? Use the Heard therapy practice budget template to get started.
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Chart of Accounts Template for Therapists
This free chart of accounts includes most assets, liabilities, revenue, expenses, and equity relevant to the majority of single person therapy practices.
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DIY Bookkeeping Spreadsheet Template for Therapists
Use this do-it-yourself bookkeeping spreadsheet to track your income, expenses, and profit.
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Paying Off Debt Worksheet for Therapists
Most therapists have debt, and most want to get rid of it. Here are some resources to help you on your debt repayment journey.
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Retirement Planning Cheatsheet for Therapists
Whether you're flying solo or heading up a team of therapists, you have a number of options in terms of retirement plans.
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The Heard Monthly Financial Planning Checklist
Use this checklist to stay on top of your therapy practice's finances and set yourself up for success each month.
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How to Prepare Your Therapy Practice for Tax Season
Use this guide to help get your therapy practice ready for tax season
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Tax Deduction Cheatsheet for S Corporation Therapists
Use this cheatsheet to maximize your deductions and save money on taxes for your S corp therapy practice.
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Tax Deduction Cheatsheet for Therapists
Use this cheatsheet to maximize your deductions and save money on taxes for your therapy practice.
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Tax Prep Checklist for S Corp Therapists
Here's everything you need to bring to your accountant when you file your S corp taxes.
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Tax Season Checklist for Therapists
If your therapy practice operates as a sole proprietorship, S corporation, or partnership, use this list to prepare you for your tax season visit to the accountant’s office.
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Tax Tips Cheatsheet for S Corp Therapists
Follow these 10 tips to reduce your tax burden and set your S corp therapy practice on track for savings.
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The Quarterly Estimated Tax Worksheet for S Corp Therapists
If your S corp therapy practice owes over $1,000 in taxes, you're required to pay in quarterly installments. This worksheet gives you the tools to calculate how much you should pay.
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The Quarterly Estimated Tax Worksheet for Therapists
If your therapy practice owes more than $1,000 in taxes, you’re required to pay in quarterly installments. This worksheet gives you the tools to calculate how much you should pay.
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Income Stream Cheatsheet for Therapists
Use this cheatsheet to explore which additional income streams or "side hustles" may be available to you as a therapist.
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Invoice Template for Therapists
When you run your own therapy practice, good invoicing helps you get paid faster. Use this template as a guide to invoice clients for your therapy practice.
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The Heard 2023 Financial State of Private Practice Report
Using data collected from over 1,000 therapists, we’re sharing insights about how much clinicians are earning, spending, and how they feel about their financial future.
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The Heard 2024 Financial State of Private Practice Report
For the second year in a row, we surveyed therapists nationwide to better understand the state of private practice finances in the United States today.
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The Heard 2025 Financial State of Private Practice Report
For the third year in a row, we surveyed therapists nationwide to better understand the state of private practice finances in the United States today.
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The Heard 2026 Financial State of Private Practice Report
For the fourth year in a row, we surveyed therapists nationwide to better understand the state of private practice finances in the United States today.
Download Now

State Guides

Learn how to start a private practice in a certain state.

California

Colorado

Florida

Illinois

Massachusetts

New York

North Carolina

Oregon

Texas

Washington

Which plan is right for me?

Here are some definitions to help you determine which plan is right for you.
Your practice is a Sole Proprietorship or Single Member LLC
If you start seeing clients without forming an LLC, then you’re taxed as a sole proprietor. You have one tax return (Form 1040) which you submit with a Schedule C to report your self-employment income and expenses.

If you form an LLC, then you’re still taxed as a sole proprietor, unless you elect to be taxed as an S corporation by the IRS.
Your practice is an S Corporation
If you’re taxed as an S Corporation, then you have two tax returns. You file a business tax return (Form 1120-S) and personal tax return (Form 1040).
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In order to be taxed as an S corporation, you need to first form an LLC (or professional corporation in CA) and then submit Form 2553 to the IRS.
Still not sure? Book a free demo with our team and we’ll help you pick the right plan for your practice.
CloseBook a demo

Heard is the only financial management software built for therapists and wellness practitioners that enables you to manage your bookkeeping, taxes, and payroll-all in one place.

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Get our Tax Deduction Cheatsheet for Therapists

Use this cheatsheet to maximize your deductions and save money on taxes for your therapy practice.

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