Tax information for independent providers
Independent providers are responsible for tracking their practice income and expenses and preparing their own tax returns. Keep your payment reports, receipts, and other records so you and your tax professional can reconcile your income and determine which expenses qualify for a deduction.
Form 1099 from Help Therapy
Providers under Help Therapy’s Fixed Payout Option receive a Form 1099 from Help Therapy for payments made under that model. Providers under the Percentage of Collections model do not receive a Form 1099 from Help Therapy. Regardless of whether you receive a form from Help Therapy, you are responsible for reporting taxable income as required.
Business expenses
Tax rules generally require a business expense to be ordinary and necessary for your work. Depending on your circumstances, potentially deductible expenses may include professional licensing, liability insurance, practice software, continuing education, office costs, and the business portion of travel or vehicle use. Personal expenses are generally not business deductions. Some expenses have special limits or recordkeeping rules.
Tax rules, rates, and your filing requirements can change. Consult a qualified tax professional about your circumstances. Help Therapy cannot determine which deductions you may claim.