Taxes
Retirement Plans for Self-Employed Physicians – Part I
When you’re on your own, it’s a challenge to know which retirement plan is right for you. Learn the essentials to maximize contributions and minimize taxes.
Read MoreMaking the Most of Business Meals and Travel Deductions
Tax law is always changing, so it’s important to stay up-to-date. Here’s how to make the most of your deductions related to business meals, entertainment, and travel.
Read MoreRenting Your Home to Your Business and Other Tax Breaks
Renting your home to your business is one way to avoid paying rental income tax. Learn about other home-related tax credits when you’re a business owner.
Read MoreThe Latest Rules on PPP Loan Forgiveness and EIDL
Learn the criteria for forgivable loans under the Paycheck Protection Program, how to file applications and claims, and the terms of Economic Injury Disaster Loans.
Read MoreThe Benefits of an S Corporation for Physicians
Forming the right business entity is the first step in ensuring your medical practice is successful. Learn the benefits of an S corporation and the deductions you should leverage.
Read MoreTax-Free Fringe Benefits: How to Make the Most of a C Corporation
The formation of a C corporation brings many benefits to owners, and tax-free fringe benefits can save employees a lot of money. Learn the types of benefits that apply.
Read More6 TIPS FOR FINDING THE TAX ADVISOR WHO CAN HELP YOU ACHIEVE YOUR FINANCIAL DREAMS
Smart tax decisions can often save business owners millions of dollars over a lifetime. And that makes partnering with an exceptional tax advisor one of the most important steps you can take to protect and grow your wealth.
And, depending on the structure of your business, you may not have to pay any payroll taxes either. The companies that fall into this category are sole proprietorships, LLCs taxed as disregarded entities, and LLCs taxed as partnerships and owned by you solely. This does not apply to corporations, however, though they may be able to do something about that:
The TCJA is in Full Effect: How Physicians Can Keep More Money
The new tax law made it easier for many doctors to pay less, but not everyone will benefit. From charity to children, here are the decisions which could affect how much income doctors retain in 2019 Doctors are frequently exhausted by their duties and find focusing on their taxes difficult – and MD Magazine…
Read MoreTHE 8 BIGGEST ASSET PROTECTION MISTAKES DOCTORS MAKE
In today’s litigious society, getting sued is not uncommon – especially for doctors. One in three physicians has a medical liability lawsuit filed against them during their careers, a proportion that goes up as a physician gets older.
Read MoreTHE TAX BENEFITS OF PUTTING YOUR KIDS ON YOUR PAYROLL
If you run a business and can find legitimate work for your kids who are under age 18, you can pay them up to $12,000 per year and they won’t have to pay any income tax. The benefit for you is that you will not have to worry about worker’s comp or unemployment insurance.
And, depending on the structure of your business, you may not have to pay any payroll taxes either. The companies that fall into this category are sole proprietorships, LLCs taxed as disregarded entities, and LLCs taxed as partnerships and owned by you solely. This does not apply to corporations, however, though they may be able to do something about that:
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