The nuances to managing quarterly tax payments for your therapy practice

Knowing how to manage quarterly tax payments is crucial for financial success. In our latest episode of Heard Business School, @Andrew Reisen joins host @Michael Fulwiler to dive deep into the ins and outs of quarterly tax payments for therapists in private practice.

He discusses:

👉 Missing or underpaying can lead to interest and penalties. Avoid this by making quarterly payments throughout the year—90% of your current year tax liability or 100% of the prior year's.
👉 Overpaying quarterly taxes can be a cushion at year-end with a potential refund. It's a balancing act between managing cash flow and not facing penalties.
👉 If you're juggling a W-2 job and a part-time private practice, Andrew explains how withholding extra from your paycheck or adjusting withholdings via the IRS worksheet can cover additional tax liabilities.

Understanding these nuances can empower you to navigate your financial responsibilities confidently, leaving you more energy to focus on your clients and grow your practice.

Catch the full episode to ensure you’re equipped with all the knowledge to keep your financials in check.


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