Archive For: Tax Planning

How Disability Benefits Affect Physician Tax Planning

Do you know how taxes could impact the value of your disability benefits? Learn about the best disability insurance for physician financial planning: When you’re considering a long-term tax plan, you have to consider the good years, bad years, and any unexpected interruptions to your earning track. One of the most tragically common events that ... Read More
 

5 Tax Planning Strategies for Physicians (2020 Edition)

Compared to professionals in other industries, physicians rank among some of the highest-paid individuals in the United States. And, as all American workers know, the more you earn, the more you pay in income taxes. The 2020 tax season is quickly approaching. If you haven’t already started planning how you’re going to file your fiscal ... Read More
 

Beginner’s Guide to Physician Tax Planning

For new doctors, the transition from medical resident to attending physician often brings a nearly four-fold salary increase. This pay hike can come as a great relief for a young physician, however it also raises new questions about taxes, investments, and long-term savings. To plan for their increased tax burden, doctors should consult with a ... Read More
 

The Physician’s Guide to Backdoor Roth IRAs

It’s never too early to start planning for retirement. As a physician, you endure more years of school and training than folks in almost any other profession. That means that by the time you start working, you’re already behind in terms of retirement savings. So how do you catch up? What’s the best way to ... Read More
 

5 Ways for Doctors to Save on Taxes

[vc_row][vc_column width=”2/3″ css=”.vc_custom_1554226366986{padding-top: 20px !important;padding-bottom: 25px !important;}”][vc_single_image image=”7297″ img_size=”large” css=”.vc_custom_1554226468079{background-image: url(https://physiciansthrive.com/wp-content/uploads/2019/02/48758.jpg?id=7297) !important;}”][vc_column_text css=”.vc_custom_1554226429920{padding-top: 20px !important;}”]A physician’s busy schedule doesn’t slow down for tax season, and most doctors don’t have time to sift through every potential write-off or tax credit to save money. As a result, doctors usually pay significantly more in taxes than others in ... Read More
 

Constructive Trade Talks Help S&P 500 Post Best Start to Year Since 1998

[vc_row][vc_column width=”2/3″][vc_column_text]Markets rebounded from yield curve fears as constructive US-China trade talks boosted global stocks. Progress appears to have been made in the latest round of trade talks as US negotiators arrived in Beijing on Thursday to continue discussions. Following the meetings, reports stated there was positive progress in all areas of discussion, with China ... Read More
 

It’s Tax Season: How Will the Big Changes Affect Physicians?

[vc_row][vc_column width=”2/3″ css=”.vc_custom_1558557752672{padding-top: 20px !important;}”][vc_column_text]April 17th is right around the corner, and everyone is talking about the new tax laws. Here are the key takeaways to help you understand the changes and maximize your return as a practicing physician. Small businesses are getting bigger breaks with the business income left after you pay yourself a ... Read More