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Welcome to the blog!
A repository of articles about things doctors didn't learn in medical school, covering side gigs, finances, the business of medicine, life in medicine, and more. These resources are intended to take a deeper dive into specific topics referenced in our educational pages.
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The Short Term Rental Tax Loophole: A Popular Tax Reduction Strategy Used by Real Estate Investors
How the short term rental tax loophole lets real estate investors use deductions to reduce taxable income, including full time W2 physicians
Defined Benefit Cash Balance Plans: Powerful Tax Strategy for Physician Practices and Entrepreneurs
Defined benefit cash balance plans offer large potential tax deductions & retirement contributions for doctors who understand how they work
How Tax Loss Harvesting Works: A Guide for Physicians
How strategic tax loss harvesting can benefit physicians with capital gains, when to do it and how, wash sale rules, swap partners, and more
What Physicians Need to Know about Quarterly Estimated Taxes
What quarterly estimated taxes are, which physicians must pay them, how to calculate how much you owe, and when payments are due.
Hiring Your Kids as Employees for Your Physician Private Practice or Business, including Tax Advantages
Pros and cons of hiring your kids via your practice or side gig as employees for tax savings, and tips to stay in compliance with IRS rules.
Your First Paycheck as an Attending Physician
Key deductions to expect from your first paycheck as an attending physician, including taxes, insurance premiums, and retirement.
Governmental and Non-Governmental 457 (457b) Retirement Plans for Physicians
What physicians should know about key differences of governmental and non-governmental 457 b plans before deciding if they should contribute
Real Estate Professional Status (REPS): A Powerful Tax Reduction Strategy for Qualifying Physicians
Real Estate Professional Status (REPS) can significantly reduce taxes owed on your primary physician job if you meet qualifying criteria.
Taking the Home Office Deduction as a Physician
Which physicians are eligible to claim the home office tax deduction, and how to calculate it via the simplified and actual expenses methods
The QBI Tax Deduction and Which Physicians Can Claim It
Why the QBI deduction (also known as Section 199A) is so powerful for physicians, who is eligible, and strategies to maximize your deduction
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