Tax planning for retirement? These strategies will help you create a tax-free plan for your medical practice.
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.
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.
The qualified business income (QBI) deduction represents potentially significant tax savings for your business. Learn whether you qualify and how to maximize this deduction.
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.
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.
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.
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.
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.
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.