Physician Specific Tax Planning Strategies

Common Tax Deductions That Will Save You Money

Common Tax Deductions That Will Save You Money As a high-income earning physician, you will want to know the common tax deductions and credits that are available to you. These deductions will help you decrease your taxable income and pay less tax. The good news is that these common tax deductions are available to any…

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Tax Planning for Physicians: Concepts You Need to Know

Tax Planning for Physicians: Concepts You Need to Know

Tax Planning for Physicians: Concepts You Need to Know When thinking about your personal finances and annual financial plan, you should not overlook tax planning. Tax planning is the process of analyzing your personal finances from a tax perspective and understanding how your income, expenses, purchases, and other financial transactions will affect how much tax…

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How Real Estate Affects Your Taxes

How Real Estate Affects Your Taxes

Real estate is a great way for physicians to build wealth, achieve financial independence, and create a second stream of passive income. It also provides advantages such as giving you more control over your investments and even giving you some tax breaks. Speaking of tax breaks, real estate affects your taxes differently than other investments,…

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Earning Income in Multiple States

Earning income in two states

Have you ever wondered the following questions: What taxes do I pay if I work in one state and live in another? Do you get double taxed if you work in a different state? Why do I have to pay taxes in two states? These are all great questions, and ones we will cover in…

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How Physicians Can Pay Less Tax

How Physicians Can Pay Less Tax

How Physicians Can Pay Less Tax   As a physician, you might be wondering how to pay less in taxes, especially as you move up the ranks from a resident earning $60,000 to an attending earning in the hundreds of thousands.  Earning more is a good thing. It allows you to provide more for yourself…

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