Posts Tagged ‘asset protection for physicians’
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.
Read MoreRetirement 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 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 MoreCongress Passes Paycheck Protection Program Increase Act of 2020
CARES Act – How It Impacts You and Your Business
Individuals and Families Individual Tax Credit/Rebate All individuals who are not dependents are eligible to receive a rebate of up to $1,200 rebate ($2,400 for married filing joint taxpayers). In addition, taxpayers with children dependents qualify for up to a $500 rebate per child. The payment will be based on the 2018 tax return…
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.
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