Posts by David Auer
Avoid These Costly Tax Mistakes When Selling a Medical Practice
Avoid These Costly Tax Mistakes When Selling a Medical Practice Selling a medical practice is a major financial transaction, and without proper tax planning, you could end up paying more in taxes than necessary. Fortunately, with the right strategies, you can significantly reduce your tax liability and maximize the proceeds from your sale. This guide…
Read MoreRetirement Planning for Physicians: Why It’s Tougher Than You Think (and How to Overcome the Challenges)
Retirement Planning for Physicians: Why It’s Tougher Than You Think (and How to Overcome the Challenges) Retirement planning is a crucial financial goal, yet for physicians, it comes with unique challenges that make it more complex than it is for most other professionals. While doctors often earn high salaries, they also start saving later, face…
Read MoreMaximizing Tax Deductions: How Doctors Can Write Off Business-Related Vacations in 2025
Maximizing Tax Deductions: How Doctors Can Write Off Business-Related Vacations in 2025 For busy medical professionals, finding time for both business development and relaxation can be challenging. However, with proper planning, doctors can combine business trips with leisure travel and legally deduct certain expenses on their 2025 U.S. tax return. While the IRS strictly prohibits…
Read MoreDoctors: 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
Top 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…
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
Effective Strategies for Physicians to Reduce Student Loan Debt Quickly. 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…
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 how…
Read MoreTax-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, you must have owned and lived in your home as your principal…
Read MoreAsset Protection Planning for Business Owners and Professionals
Asset 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…
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