Therapist's Tax Planner
Enter your information and click 'Submit' to generate a personalized tax planner.
Personal Information
Name
First Name
Last Name
Business Name
Full business name and/or DBA
Business Address
Physical address where you do business
Phone Number
Please enter a valid phone number.
Format: (000) 000-0000.
Email
*
example@example.com
Tax Year
Tax year in question
EIN/SSN
Your EIN number if you are filing as a business. Your Social Security Number if you are filing as an individual
Income Sources
All values below are in U.S. dollars
Private Practice Income
All fees collected from therapy, supervision, etc.
Insurance Reimbursements
Fees collected from billing insurance
Consulting Fees
Fees collected from consulting work
Speaking Engagements
Fees collected from speaking at events, interviews, etc.
Teaching/Workshops
Fees collected from teaching classes and/or workshops
Online Courses/Resource Sales
Fees collected from online courses and other therapy resources sold
Other Income
Any other forms of income that was brought into the practice.
Business Expenses
All values below are in U.S. dollars
Office Expenses
Rent/Mortgage
Rental or mortgage payments for office/practice space
Utilities
i.e. Heat, A/C, gas, water, electricity
Office Supplies
Any office supplies purchased for use in your practice (Printers, paper, pens, etc.)
Software & Subscriptions
i.e. magazine, website, app subscriptions, Software purchases for practice
Phone & Internet
Fees paid for office phone and internet
Professional Expenses
Liability Insurance
Total yearly premiums of all insurance policies
Licensing Fees
Fees paid for licenses and license renewal
Continuing Education
Therapy & mental health-related classes, seminars, etc.
Professional Memberships
i.e. membership dues, etc.
Supervision/Consultation Fees
Fees paid to supervisors or for consultation groups/sessions
Marketing & Advertising
Website Hosting
Fees paid for website hosting and other website-related services
Business Cards & Print Materials
Fees for therapy & mental health-related business cards, flyers, mailers, etc.
Online Ads
Fees for online marketing and online marketing materials
Networking Events
Fees incurred for networking purposes or while in the process of networking. i.e. event admission, meals, coffee, etc.
Client & Treatment-Related Expenses
Therapy Tools/Materials
Items used specifically for and/or during therapy sessions. i.e. EMDR tappers, etc.
Telehealth Platforms
Fees paid to platforms used for telehealth sessions. i.e. Zoom, Google Meet, Simple Practice, etc.
Books/Resources
Books, toys, games, EMDR paddles, etc. used for sessions/with clients
Travel & Transportation
Mileage
(Miles) x (Cost/per mile) = Milage
Business-Related Travel
Fees incurred during therapist and mental health-related travel. i.e. airline tickets, rental cars, etc.
Conferences and Seminars
Fees paid to attend therapist and mental health-related seminars, conferences, etc.
Employee & Contractor Expenses
Assistant/Receptionist Salaries
Salaries paid to employees
Contractor Fees
Fees paid to independent contractors
Payroll Taxes
Total of taxes paid to payroll
Retirement & Benefits
Health Insurance
Yearly health insurance premiums paid
Retirement Contributions
Any financial contributions made to retirement funds
Deductions & Credits
Home Office Deduction
(Square Footage of Home Office) × ($5.00) *This formula is only the most basic method of calculating your home office deduction. There are some other ways that might yield a larger deduction. Research for yourself or contact a tax professional to learn more about which formula works best for you.
Student Loan Interest
Interest paid on student loans
Qualified Business Income Deduction
A Qualified Business Income Deduction (QBI) is a tax deduction allowing eligible business owners to deduct up to 20% of their qualified business income from taxable income. Generally, owners of pass-through entities (sole proprietorships, partnerships, S corporations, LLCs) can qualify for this deduction if their taxable income is below $364,200 (marriedfilingjointly) or $182,100 (single) as of 2023. A Specified Service Businesses (e.g., law, mental health, health, consulting) may face limitations if income exceeds thresholds. Please contact a tax professional if you have any questions or need help.
Other Tax Credits
Estimated Tax Payments
1st Quarter (Due April 15)
This Field Will Be Auto-Calculated
2nd Quarter (Due June 15)
This Field Will Be Auto-Calculated
3rd Quarter (Due September 15)
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4th Quarter (Due January 15)
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Final Tax Liability
Total Income
This Field Will Be Auto-Calculated
Total Expenses
This Field Will Be Auto-Calculated
Taxable Income
This Field Will Be Auto-Calculated
Tax Rate
Input your Federal Tax Rate (%)
Total Owed (Taxable Income) x (Tax Rate) = Total Owed
This Field Will Be Auto-Calculated
Notes & Additional Considerations
Next Steps & Action Plan
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