Doctors: Is Your Physician Group Causing You to Pay Higher Taxes in 2025?
Classifying doctors as employees can significantly increase their tax burden An increasing number of doctors are banding together to form medical “super groups,” and the benefits can be significant: economies of scale, greater leverage in negotiations with insurance companies and large hospitals, administrative support that leaves doctors free to focus on patient care, and a…
Read MoreTop Asset Protection Mistakes Doctors Make & How to Avoid Them
As a doctor, you’ve invested years of education, training, and financial resources into building your career. However, your profession also exposes you to financial risks that can threaten your wealth. Medical professionals are frequent targets of lawsuits, and without proper asset protection strategies, your hard-earned assets could be vulnerable. Here are some of the most…
Read MoreWhat Doctors Can Lose with a Malpractice Lawsuit: A Financial Perspective
Medical malpractice lawsuits can have profound financial implications for physicians, affecting both their personal finances and professional practice. Below is an overview of the potential financial losses doctors may face when confronted with a malpractice suit, accompanied by relevant statistics, and how a tax expert can help mitigate these financial burdens. 1. Legal Defense Costs…
Read MoreStrategies for Doctors to Tackle Student Loan Debt Faster
Student loan debt is a significant burden for many doctors in the US. With an average debt of around $234,597, it’s essential to find effective ways to pay off these loans quickly and efficiently. Here are some detailed strategies that can help: 1. Make Payments During Residency Start Early: Making payments on your student…
Read MoreWhy Doctors Are Taking on Side Gigs and How They Can Save Taxes on Moonlighting
The healthcare industry is known for its demanding schedules and rigorous training, but more and more doctors are branching out into side gigs. Whether it’s consulting, teaching, telemedicine, or even creative pursuits like writing, many physicians are exploring opportunities outside their primary practice. But why are so many doctors taking on side gigs, and…
Read MoreTax-Free Home Sale: When and Why, You Need to Report to the IRS
Tax-Free Home Sale: When and Why, You Need to Report to the IRS You probably know that when you sell your home, you may exclude up to $250,000 of your gain from tax if you’re unmarried (or married, filing separately) or $500,000 if you are married and file jointly. To claim the whole exclusion,…
Read MoreAsset Protection Planning for Business Owners and Professionals
Asset Protection Planning for Business Owners and Professionals Join our esteemed panel of experts as they delve into the intricacies of asset protection planning. This comprehensive webinar series is designed to provide you with the knowledge and tools necessary to safeguard your wealth and ensure your financial security. This post serves solely for informational…
Read MoreMastering Financial Planning for Physicians Strategies for Protection, Liquidity and Diversification
Mastering Financial Planning for Physicians Strategies for Protection, Liquidity and Diversification Designed specifically for physicians, this webinar offers a comprehensive approach to managing and growing your wealth through targeted strategies for protection, liquidity, and diversification. This post serves solely for informational purposes and should not be construed as legal, business, or tax advice. Individuals…
Read MoreEstate Planning for Physicians: Protection for You and Your Family
Estate Planning for Physicians: Protection for You and Your Family Ensure your family’s legacy with our comprehensive webinar, presented by Todd Hudgins, JD, CPA, LLM. This essential session is tailored specifically for physicians, offering critical insights and strategies to safeguard your assets and provide peace of mind for you and your loved ones in…
Read MorePreparing for Tax Change: Tax Law Updates and Tax Planning Tips for Physicians in 2024-2026
Preparing for Tax Change: Tax Law Updates and Tax Planning Tips for Physicians in 2024 2026 In an ever-evolving tax landscape, it’s crucial to understand the upcoming changes and how they could impact your financial health. This comprehensive session will cover: 2024-2026 Tax Law Changes: Gain insights into the latest tax legislation and…
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