Posts Tagged ‘physician taxes’
Marriage, Kids, and Care Credits for Doctors
Life changes.So do your taxes. This guide keeps it simple and focused.Short lines. Clear steps. Practical moves you can use this year. What changes when you marry Your filing status shifts the brackets. You may hit phaseouts sooner or later, depending on income mix. With two earners, withholding needs a reset. Student loans and repayment…
Read MoreOctober 15 Tax Deadline for Doctors: What You Need to File, Fix, and Finish
You filed an extension.Now the clock runs out. Use this checklist to finish clean, lower stress, and still find savings where you can. What’s due on October 15 Individual return (Form 1040). Final day for extended returns. S-Corporation and Partnership owners. Your business returns were due Sept 15. Make sure you have all Schedule K-1s…
Read MoreCash Balance Plans for High-Earning Physicians: When It Works
You earn a strong income.You want a bigger deduction and a predictable way to save.A cash balance plan might fit. It might not. This guide keeps the steps simple. Clean math. Real trade-offs. Short lines you can scan. What a cash balance plan is A defined benefit plan with a pay credit and an interest…
Read MoreShould Doctors Use an S-Corp for Side Income? Here’s the Pay Strategy
You’re picking up extra income.Consulting. Locums. Courses. A small advisory gig. An S-corp might help. It might not.This guide gives you a clean way to decide—and a pay strategy you can actually run. The fast answer Use an S-corp when side-business profit is meaningful and repeatable, and you’re willing to run payroll and books.Skip it…
Read MoreTax Planning That Does More Than Save—It Protects You Too
You want to practice medicine.You also want your family and future protected. This guide shows clear steps for liability protection for physicians and the tax moves that support it. Short lines. Clean actions. Real-world fit. What “protection” really means Keep a bad event from taking good assets. Separate practice risk from personal life. Use entities…
Read MoreDoctors’ 2025 Tax Playbook: Keep More Of Your Income
You work hard for your income.Keep more of it. This playbook gives you simple steps, quick checks, and clean moves you can run all year. Short lines. Clear actions. No fluff. W-2 vs 1099: know your lane Employed (W-2): You can’t deduct unreimbursed job costs on your federal return. Use workplace plans. Adjust withholding after…
Read MoreSeptember 15, 2025 IRS Deadlines: Q3 Estimated Taxes, S-Corp 1120-S, and Partnership 1065 (Extended)
Two big obligations land on this date. Your third-quarter estimated tax payment (individuals). Final filing for S-corporations and partnerships on extension. You can finish both in one focused session today. What’s due on September 15, 2025 Q3 estimated tax for individuals.The third payment for the 2025 tax year is due September 15, 2025. Quarterly dates…
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…
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