Archive For: Tax Planning

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

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 salary. Affecting self-employed physicians, ... Read More

What’s The Deal With Taxes?

Feel like you’re paying too much for taxes? You are not alone. “No new taxes!”. Those were the words of George Bush Sr. when he was running for president in 1988. Similar messages are communicated and thought of not only during election years, but this sentiment resonates in the minds of most who are trying ... Read More

Mid-Year Tax Changes That Will Help You

Making mid-year tax changes can completely change your outlook for the year Mid-year tax changes are a great way to make sure you’re even with the government come tax season. Remember, if you get a large refund, you’ve given the government an interest-free loan straight from your pocket! One of the easiest ways to reduce ... Read More

The Doctor’s Life Podcast Episode 008- How’s Your Financial Health?

It’s that time of the year when you’re looking at bills from the holidays, maybe a job offer or going after a job offer, and tax season is starting to roll around. It’s time to ask yourself about your financial health. Sometimes you have to be brutally honest with yourself when assessing your financial health. ... Read More

Which Financial Documents Should You Keep On File?

…and for How Long? You might be surprised how many people have financial documents scattered all over the house – on the kitchen table, underneath old newspapers, in the hall closet, in the basement. If this describes your financial “filing system,” you may have a tough time keeping tabs on your financial life.

Understanding IRA Options for Physicians

The essentials physicians need to know about different types of individual retirement account options It has been more than 35 years since Congress enacted legislation that established the Individual Retirement Account (IRA) as an incentive for individuals to take responsibility for their own retirement security. Since then, billions of dollars have flowed into IRAs held by ... Read More