Private Practices, Don’t Wait for Tax Season: November Is Your Profit Prep Month

If you run a private practice, you already know how fast the year disappears. One day you are onboarding clients in January, and suddenly it is November and your accountant is sending year-end reminders. By the time most practice owners start thinking about taxes, it is too late to make meaningful moves.

Here is the truth: November is not just the month for cozy sweaters and gratitude lists. It is your chance to take control of your financial story before the IRS writes the ending for you.

Let’s look at why November should officially become your Profit Prep Month and how to use it to protect, grow, and keep more of your hard-earned money.

The Tax Season Trap

Most private practice owners do not think about taxes until January or February when everything is reactive. You are gathering receipts, answering your accountant’s emails, and trying to remember what that vendor charge from June was. By that point, your options are limited. The numbers are already written, and you are left hoping you did enough.

The most successful practice owners know that profit planning is a year-round process. November is the last full month to make proactive financial moves that can change your tax outcome. Think of it as your financial halftime. You have seen the game, and now you can adjust before the final quarter.

Know Your True Profit Before December Hits

The first step in any profit prep strategy is to know exactly where you stand today. Most therapists, chiropractors, and wellness practitioners focus on revenue and expenses, but they rarely review their true profit margins.

Start by running your year-to-date profit and loss report. Look at your revenue, cost of goods, and operating expenses side by side. If you are not sure how to interpret those numbers, focus on this: what percentage of your income actually lands in your pocket?

In many private practices, the answer is shockingly low, often under twenty-five percent once rent, team pay, and supplies are covered. If that sounds familiar, November is your chance to shift it. Review your pricing, your recurring subscriptions, and your client mix. Ask yourself if your most time-consuming services are also your most profitable ones.

Trim the Hidden Fat

Every business has financial clutter hiding in plain sight. November is the ideal time to declutter before tax season magnifies the mess. Review your recurring software, memberships, and app subscriptions. If you have not used it in three months, it is probably not essential.

For private practices with teams, review your payroll expenses and contractor rates. Are you paying market value, or did rates creep up without revisiting your budget? Even small percentage shifts can have a huge impact on your year-end numbers.

This is also the month to review your tax deductions with intention. Do not just hand your accountant a stack of receipts. Identify which expenses are strategic investments that can reduce your taxable income and strengthen your operations. Equipment upgrades, continuing education, or prepaying vendor invoices before December 31 can all make a measurable difference if done correctly.

The goal is not to spend more. It is to spend smarter.

Cash Flow is King in Q4

November is your last full month to stabilize cash flow before the holiday slowdown. Many therapists and wellness professionals experience cancellations in December, and if you do not plan ahead, that can cause stress and short-term cash shortages.

Start by looking at your average client load for November and December last year. How many sessions typically cancel or reschedule? Use that data to anticipate the same pattern this year and build a buffer. If you know your income might dip by ten percent in December, set aside that amount now.

For chiropractors or wellness practices that sell packages, consider offering prepayment incentives for January sessions. This approach locks in cash now and ensures you begin the new year with a full schedule.

Strong cash flow is not just comfort. It creates freedom. It allows you to make proactive tax-saving decisions like funding retirement accounts or investing in deductible business expenses before December ends.

Your Accountant Should Not Be Your Only Financial Partner

Most practice owners think of their accountant as someone who files taxes, not someone who helps them plan for growth. But an accountant who only looks backward cannot help you make smarter decisions in real time.

This is where advisory-level accounting changes everything. Advisory means working with a financial partner who interprets your numbers, not just records them. They help you forecast profit, model tax scenarios, and identify ways to reinvest your revenue more strategically.

One of our chiropractic clients used this approach last year. By reviewing her numbers in November instead of March, she saved nearly twelve thousand dollars in taxes and used that savings to hire a part-time assistant who generated another thirty thousand in billable revenue.

That is what profit prep really looks like. It is not just bookkeeping. It is business strategy.

To start building that kind of financial clarity, download our Free Monthly Bookkeeping Checklist. It is a simple yet powerful tool that helps private practice owners stay on top of their numbers, catch potential profit leaks early, and stay financially confident month after month. Once you have that system in place, you are ready to move beyond basic bookkeeping and into true advisory-level growth

Step Into Your CEO Role Before Year-End

November is the moment to lead your private practice, not just manage it. Review your data, take control of your pricing, clean up your expenses, and connect with your accountant before tax season, not during it. The decisions you make this month will directly determine how much profit you keep when the year closes.If you are ready to turn November into your most profitable month of the year, we will help you uncover hidden profit leaks, optimize your year-end tax strategy, and build a financial system that supports your growth all year long. You can book your consultation here and start 2025 with clarity, confidence, and a stronger bottom line.