IRS Tax Guides for Therapists
Before you read on, consider contacting a tax professional that specializes in taxes and accounting for therapists, like Heard Financial or GreenOak Accounting.
We’d also recommend that you purchase one of the many, easy-to-read tax guides available on Amazon or at your local book store.
They can save you a ton of time, money and missteps that are easily paid for by 4-5 additional client sessions annually.
We frequently get asked about tax rules, deductions, etc., for therapists, solo practices and group practice owners.
To make life easier, we’ve put together a list of IRS PDF publications and FAQ guides that will help you navigate a lot of the most common questions, with less misinformation than the Facebook groups for therapists.
We’d also recommend the IRS Small Business and Self-Employed home page as a good place to find the official answers to a lot of your questions. This has a lot of topical links that will save you trying to read the longer publications below.
One of the easiest ways to use these is open up the PDF or guide and search the entire document (using Command+F on Macs or Control+F on PC’s) for keywords on your topic.
For Therapists Employed as W2’s:
IRS Guide to Miscellaneous Deductions (Publication 529) – Main guide for W2 employees and what they can deduct while working for someone else
IRS Guide to Health Savings Accounts and Other Tax Favored Health Plans (Publication 969)
For Business Owners (Solo Practice, Group Practice and Independent Contractors / 1099):
IRS Guide to Starting a Business and Keeping Records (Publication 583)
IRS Guide for Small Business Owners (Publication 334) – Includes basic overview of what counts as income, basic expense categories, self-employment tax, etc.
IRS Guide to the Business Use of Your Home (Publication 587)
IRS Guide to Taxation of LLC’s (Publication 3402) – Covers how your business structure may impact your taxability.
IRS Guide to Small Business Retirement Plans (Publication 560) – Covers SEPs, SIMPLEs, 401k’s, etc.
IRS Business Casualty, Theft and Loss Workbook (Publication 584)
For Employers:
IRS Employer Tax Guide (Publication 15) – Covers withholding, deposits, required filing forms, etc
IRS Supplemental Employer Tax Guide (Publication 15a) – Covers employee vs. contractor, sick pay, etc.
IRS Guide to Employer Fringe Benefits (Publication 15b) – Covers tuition assistance, meals for employees, employer provided cell phones, achievement awards, etc.
Miscellaneous for Therapists:
IRS Guide to Tax Benefits for Education (Publication 970) – Includes deducting tuition, student loan interest, etc.
IRS Guide for U.S. Citizens Living Abroad (Publication 54)
IRS Guide to Travel, Gift and Car Expenses (Publication 463)
IRS Guide to Charitable Contributions (Publication 526)
IRS Guide for Tax Exempt Organization (Publication 557) – Covers non-profit creation and taxation
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