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5 Tips for Becoming a Successful Locums Hospitalist

Over 52,000 physicians—around 7% of the total workforce—work as locum hospitalists in the United States, according to the 2023 State of Locum Tenens Report. This number is expected to increase by 14% in 2024. If you’re thinking about taking up work as a locums tenens hospitalist, read on to learn what the term means, the pros and … Read more

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Transitioning from Medical Practice to Real Estate: Real Estate Professional Requirements

A “real estate professional” isn’t a casual title or designation, but a specific status recognized by the Internal Revenue Service (IRS) that holds considerable weight in the business world courtesy of the financial and tax benefits it bestows its holder. A real estate professional, in the context of tax law and IRS regulations, is someone … Read more

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Real Estate Loopholes for Doctors Involved In Real Estate Investing

Real estate tax loopholes refer to existing tax laws, or omissions in the tax code, that give real estate investors a degree of leeway when declaring their taxable rental income. These rules (or gaps therein), when understood and harnessed, can result in significant tax savings for a savvy real estate investor. In particular, you can … Read more

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What Does Superfund 529 Mean and How Can You Get It Started?

529 Plans are savings plans with tax advantages designed to encourage saving for future education costs. At a legal level, these plans are sponsored by states, state agencies, or educational institutions to help ensure that higher education is more affordable. Early education planning helps ensure security and stability for our children. As physicians who understand … Read more

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What Is Locum Tenens? Meaning, Pros, and Cons

If you’re a doctor or a medical student, you’ve probably heard the expression “locum tenens” before. Locum tenens refers to cases when a doctor temporarily substitutes for another doctor. There are various reasons for this, including sick leaves or an increase in patient demand. The duration of these temporary assignments can range from a few days … Read more

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What Is Locum in the Medical Field?

Locum is short for Locum Tenens. It’s a term used in the healthcare industry that refers to a professional who temporarily fills in for another. A locums physician provides the same level of healthcare as the permanent health practitioners within an organization because, technically, they’re also qualified doctors or physician assistants. However, the permanent staff … Read more

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5 Exceptions to the 59 1/2 Rule: Guide to Early IRA Withdrawals

While your individual retirement account (IRA) is designed to support you in your golden years, life’s unpredictability may necessitate accessing your retirement funds earlier than planned. Typically, early withdrawals from IRAs incur a hefty 10% penalty, but there are a few exceptions to this rule that can provide some financial flexibility in times of need … Read more

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How to Report Form 8606 Backdoor Roth IRA

A Roth account is a popular option for IRA contributors, mainly because of its tax benefits. While account holders save towards retirement, they also get to enjoy tax-free growth and withdrawals upon retiring. Yet, a Roth IRA account can be limiting for most high-income earners such as physicians, due to the IRS income limit. Based … Read more

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The Qualified Dividends and Capital Gains Worksheet Explained

The Qualified Dividends and Capital Gains Worksheet is used by investment-savvy physicians to calculate gains on their investments when filing their taxes. It’s included in the Internal Revenue Service’s Instructions for Form 1040 (and 1040-SR) and in many tax filing and preparation software services. If you’re a physician who has opted to invest instead of paying … Read more

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Is Kaiser Pension Worth It? What Physicians Should Know

With the unique challenges that you face as a physician, from hefty student loan debt to complex compensation structures, it’s important to consider all aspects of your financial planning, including retirement benefits. One option that has garnered attention in recent years is Kaiser’s pension plan, providing guaranteed income, healthcare benefits, and inflation adjustments. But is … Read more

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