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IRS Tax Audit: Everything You Need to Know and Signs You Might Be Audited

The Inflation Reduction Act of 2022 will increase the IRS' budget…
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The Ultimate Guide to Owning a Short-Term Rental

If you're considering investing in real estate, you're not alone.…
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Cryptocurrency Has Unique Rules When It Comes to Income Taxes

So far in the gaining popularity of cryptocurrencies, we’ve…
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Why I wrote my new book - The Richest Doctor: A Modern Parable of Financial Independence

Tax planning for retirement? These strategies will help you create a tax-free plan for your medical practice.
physician retirement

How Doctors Can Create a Tax-Free Retirement, Part II

Tax planning for retirement? These strategies will help you create a tax-free plan for your medical practice.
man planning for retirement

Physicians: How to Create a Tax-Free Retirement, Part I

Tax law is complicated and always seems to be changing. When you’re a doctor planning for a tax-free retirement, consider the history of tax rates and weigh your savings options.
How Multi-Physician Practices Can Minimize Their Taxes

How Multi-Physician Practices Can Minimize Their Taxes

Are you part of a multi-physician practice? Key tax planning considerations include business structure, retirement planning & succession planning. Here’s how to focus on these areas.
Maximize the QBI Deduction as a Physician

How to Maximize the Qualified Business Income Deduction as a Physician

The qualified business income (QBI) deduction represents potentially significant tax savings for your business. Learn whether you qualify and how to maximize this deduction.

Physician Tax Solutions’ October Tax-Saving Tips

If you have employees, you must withhold their 6.2 percent share of the Social Security tax from their wages up to an annual wage ceiling ($137,700 for 2020). You must pay the money to the IRS along with your matching 6.2 percent employer share of the tax.
Self-Employed Physicians Retirement Plans

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.
What to Know about Business Deductions

Making 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.
Home Tax Breaks for Business Owners

Renting 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.