As a 1099 MD you know that the best way to keep more of your earnings is smart tax planning.   To achieve that, you need to know the numbers.   The attached provides a succinct summary of deductions and the various limits and phaseouts associated with them, courtesy of The Bradford Tax Institute (which I highly…

Tax reform means opportunity for you the taxpayer.  The folks at bradfordtaxinstitute dot com have a wonderful guide now available online that outlines a tremendous amount of valuable information regarding S corps.   If you’re a 1099MD and you’re planning on doing lots of locum work, form your LLC, elect S Corp status, and enjoy the…

So you’re a 1099MD running around town or the country filling jobs wherever and whenever the opportunity arises. The fact is, if you have an LLC or similar and a hospital engages your company (whereupon you go to work on behalf of your company as its employee) then you are playing the 1099MD game correctly….

Thats right, you heard me.  It seems the recent changes to the tax code appear to provide a path to purchasing (and writing off in year 1) the entirety of a new SUV purchase. Caveats: SUV must be over 6,000 GWVR (e.g https://diminishedvalueofgeorgia.com/6000-pound-vehicles/) Does not have to be NEW just new to YOU. Its a business…

Fascinating read regarding the status of whether a W2 is really a W2.    You see, the loss of most of the deductions that an employee still had for business expenses is largely gone now as a result of tax law changes.  That sucks. But.. perhaps there is some salvation.   The Butts case, among others, resulted in…