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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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Oil and Gas Investments: Tax Benefits and Risks
Opportunities to invest in oil and gas investments offer tax deductions for W2 physicians, but it’s important to know the pros, cons & risks
What Are the Tax Benefits of Investing in Real Estate?
Tax benefits of investing in real estate include 1031 exchanges, the QBI deduction, depreciation, expense deductions, REPS, & STR loophole
Tax Deductions for Locums Physicians Working as Self-Employed 1099 Independent Contractors
Common expenses that can qualify as deductions for 1099 locums physicians working as self-employed independent contractors to lower taxes
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
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