Skip to content

Episode 076: Navigating Taxes and Accounting for Therapists with Michelle Ward

Michelle Ward is the owner of MW Group and Modern CPA Online. Michelle is a certified public accountant who handles taxes and small business accounting. She started her firm in 2014 after spending time in a larger, regional firm and began to feel unfulfilled. After five years, Michelle’s company grew, and her husband also joined the firm to become her partner. Last year, they launched Modern CPA online, which provides business education to small business owners. Many practitioners in our field might not have the business support or skills needed to succeed on their own. Through her program, Michelle helps with navigating taxes and accounting for therapists.

Michelle shares some of the challenges she sees with therapists and practitioners who start their own practices. One of the biggest issues they have is not knowing how to file taxes or what expenses to keep track of. She also helps her clients choose the right business structure, which might not always be an LLC. We discuss independent contracting and how to set yourself up for success, which includes analyzing your workload so you can make the profit that you want to make. Michelle shares tips on how to keep track of expenses, how write-offs work, and the pros and cons of being an employee versus an independent contractor. She also provides her recommendations for someone who’s starting a small business when it comes to taxes.

What’s Inside:

  • How Michelle founded her companies, MW Group and Modern CPA.
  •  Resource to Get Tax Time Ready
  • Common accounting and tax challenges faced by independent contractors and small business owners.
  • Tips for those just starting out as a small business owner or independent contractor.

Mentioned In This Episode:
How to ABA on YouTube
Find us on Facebook
Follow us on Instagram
MW Group
Modern CPA