13. Accounting Essentials for Building a Profitable Private Practice with Phil from Panic Atax

Did you know that I used to be an accountant? Accounting and psychology might seem like completely different career paths, but my accounting days set me up to understand the importance of being across your financials in your business as a private practice owner.

Phil, an accountant with Panic Atax, is a wealth of knowledge (pardon the pun) when it comes to financial planning, tax, managing cash flow and so much more. 

In this episode, he shares with us:

• The importance of financial planning and having an accountant for your private practice
• Budgeting, taxes, expenses and running a business profitably from a financial perspective
• Asset protection and tax planning strategies for different business structures
• Managing cash flow, leave pay, sick leave and holidays
• The different roles of a bookkeeper versus an accountant and importance of their collaboration
• Using business data and financial trends to identify and plan for potential problems early

Visit the Panic Atax website here.

This episode is sponsored by Moonraker AI.

Find out how to work with me: https://www.privatepracticeacademy.com.au/services

FREE content ideas for psychologists: https://www.privatepracticeacademy.com.au/content-ideas

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