Financial Aspects of a Private Practice

Your practice – your business! How to reconcile the professional objectives of your practice with the need to provide yourself with an income, and comply with taxation and accountancy requirements

Date: 24/01/2018

Time: 2.00pm- 5.30pm

Venue: PSI Offices,Floor 2, Grantham House, Grantham Street, Dublin 8

Fees: PSI Member €65.00, Non-Member €90.00

 

 

Working in private practice can be rewarding financially as well as professionally. Building a financially viable client-base might take a while but with an understanding of the key factors in setting prices, and controlling costs at a reasonable level, psychologists in private practice can thrive. This workshop aims to cover practical financial considerations.


For whom?
This workshop is designed for those who are considering setting up a private practice and/or have been working independently for a short while and feel they could use some guidance in understanding the finances of their practice.


Learning outcomes

  • Understand how to set their prices
  • Understand key costs
  • Keep a simple set of financial records
  • File their tax return on time and how to reduce their tax bill
  • Understand when they may need additional financial advice.



Benefits 

  • Network with other psychologists who are either set up in, or about to set up, a private practice
  • Avoid common mistakes
  • Build income more quickly
  • Facilitation of long-term viability of the business



Brief description of themes, broken down into sessions
This half-day workshop will follow the outline below:


2.00–4.00PM Income and Expenses
• Business Costs 
• Income Producing Activities v Administration/Non Income Producing Activities
• Pricing
• Accounting Records 

Coffee break
4.15–5.00PM Sorting out the finance
• Tax
• Insurance
• Banking


Methods of teaching and form of the event

This workshop will encourage engagement and participation in order to ensure that it covers as much
as possible the practical issues that arise on a day to day basis and enhance the learning experience.
Participants are encouraged to take notes to supplement the course materials. 
No previous experience is required. 


Presenter:

John Smith F.C.A .,B.Sc(Mgmt) is a Chartered Accountant and Tax Consultant with 30 years experience , including 
over 20 years running his own accountancy practice advising small and medium enterprises in a wide range of
industries and professions.

BOOK NOW