Traktion has been so helpful for my solo private practice accounting needs. They provide thoughtful support and are always there when I have questions, making the billing portion of my practice a bit more seamless for me!
Wondering what it’s like to have a dedicated financial team focused on your success? At Traktion, our private practice accounting team becomes your team. Whether you need CFOs, financial analysts, accountants, a billing team, bookkeepers, or payroll specialists, we provide the financial support you need, when you need it. As your business grows, we ensure your finances keep up. Experience the peace of mind that comes with having a dedicated financial team by your side.
A therapy practice earns money in ways a generalist firm rarely sees: insurance reimbursements that arrive weeks after a session, private pay and sliding-scale clients, superbills and no-show fees. We keep insurance revenue and private pay revenue separate in your books and tie deposits back to sessions, so your monthly reports show what each payer really pays and how much of your income depends on each one. Our bookkeeping for therapists team keeps those day-to-day records clean, and the accounting, tax and planning work on this page sits on top of them.
Most private practice therapists pay their own income tax and self-employment tax through quarterly estimates, and the IRS sets the self-employment tax rate at 15.3%. For 2026, federal estimated payments are due April 15, June 15 and September 15, 2026, with the last one due January 15, 2027, and our estimated tax payment deadlines guide has the details. We use your monthly numbers to set those payments, so the bill in April is not a surprise.
Part of our job is telling you whether your spending is on track for a practice your size. Rent, EHR and billing software, malpractice coverage, continuing education and supervision all fall into typical ranges, and we compare your numbers against them as part of each monthly review. Our breakdown of private practice expenses walks through what is normal and what tends to raise questions.
Once a practice is steadily profitable, an S-corp election can lower self-employment tax, but it also adds payroll, a separate business return (Form 1120-S) and a reasonable salary you need to be able to defend. You can get a first estimate from our S-Corp Tax Calculator, and we will walk through the result with you before you file anything.
Ready to talk through your practice’s numbers? Book a call with our team and we will start with where your practice is today.
This content is for informational purposes only. Tax and financial situations vary. Consult with a professional for advice specific to your practice.
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Traktion has been so helpful for my solo private practice accounting needs. They provide thoughtful support and are always there when I have questions, making the billing portion of my practice a bit more seamless for me!
They explain things in a way that finally makes sense.
It feels like having a partner, not just an accountant.
Everything’s organized and easy to understand now.
Mebea and the team are patient, communicative, and generous with their time. It is clear that they are small business owners who care about helping other small business owners succeed.
Traktion has been the best find and the most cost-effective solution to my bookkeeping and tax needs. I’m newly in private practice and have no idea what I’m doing with deductions, withholding, quarterly tax payments, etc. Within a few weeks and with only a few short zoom calls, my books were up to date, my quarterly taxes were estimated and paid, and I had saved almost $2000. Every interaction has been seamless. Highly recommend Traktion!
Your monthly accounting doesn’t need to be complicated or confusing. Schedule your introductory call to see how our team can help: