ABSTRACT
The most common sources of income for retired therapists are Social Security, qualified retirement accounts, individual retirement accounts, annuities, and cash values in life insurance policies. Other sources of income might derive from other investments such as real estate or other businesses. If you are like most people in private practice, you probably run your practice as a sole proprietorship. The term 'sole proprietorship' means that you are self-employed and not organized as a corporation or other entity such as a limited liability partnership, you are simply in business for yourself. As a sole proprietor, your business income is reported on IRS Schedule C. You pay self-employment (SE) tax based on your self-employed income. The self-employment tax is a Social Security and Medicare tax similar to the Social Security and Medicare taxes withheld from most wage earners. Process pages is an open space for journaling your feelings, thoughts, and emotional responses.
