Understanding The Alternative Minimum Tax
In 1969, Treasury Secretary Joseph Barr announced that 155 high-income households hadn’t paid any taxes at all that year. The obvious public outcry prompted Congress to institute an add-on tax they...
View ArticleIncreasing Taxes? Not that worried.
There’s a lot of talk from the White House and Capitol Hill about solving the “fiscal cliff” issue by preserving the tax cuts for “low and middle income folks” and raising them on “the rich”, generally...
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Lower Your Roth Conversion Rate To Your AMT Rate – Guest Post
Tom Martin [Editor's Note: This is a guest post from Tom Martin, CFP®, CPWA®, AIF® and Andrew Parker. They work for Larson Financial Group, LLC, a physician-focused financial advisory firm with...
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Locking In A Lower Capital Gains Tax – Guest Post
Tom Martin [Editor's Note: This is a guest post from Tom Martin, CFP®, CPWA®, AIF® and Andrew Parker. They work for Larson Financial Group, LLC, a physician-focused financial advisory firm with...
View ArticleFriday Q&A – Comparing Independent Contractor Jobs with Employee Jobs
Q. Thanks for all the great sound advice. I am a MSK radiology fellow looking at two offers. One is a independent contractor and one as an employee. I am having a hard time comparing apples with...
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The Fiscal Cliff And Physician Finances
I wrote a few weeks ago about how I wasn’t all that worried about an increase in the marginal tax rate on income over $250K, and that a lot of doctors shouldn’t be worried either. After weeks of...
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What Happened In Washington? Friday Q&A Series
Q. What has changed now that Congress has averted the fiscal cliff? A. Now that the wrangling over the fiscal cliff is finally over, let’s sort out exactly what happened and how it will affect doctors...
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Avoiding The Alternative Minimum Tax – A Guest Post
Tom Martin [Editor's Note: This is a guest post from Tom Martin, CFP®, CPWA®, AIF® and Eric Meyer. Tom is one of the authors of Doctors Eyes Only and an executive with Larson Financial Group LLC. He...
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Tax Software Makes It Easy
I use tax software to do my taxes each year because it makes it faster, easier, and more accurate than filling out the forms on my own. I prefer the Turbotax Basic Edition, but it isn’t necessarily...
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Beware the Stealth Tax – Friday Q&A
Donald Pease Q. I heard itemized deductions will be limited starting in 2013. Do I even get a benefit from having a mortgage any more? A. If there is anything I like less than taxes, it is stealth...
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What Does “Fair” mean when it comes to taxes?
There is a lot of talk in the media about tax policy. Unfortunately, no one seems able to make any kind of dispassionate statement or argument about it. One side keeps talking about “fairness” and...
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10 Reasons Why I Pay Less Tax Than Mitt Romney
Mitt Romney Paid 14.1% of his income in federal and payroll taxes in 2011 Mitt Romney took a lot of flack in the last election because his tax bill was only 14.1% of his income (despite the fact that...
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Why I Didn’t Take The Home Office Deduction
As regular readers know, I have a home-based business, this blog. This last year I had a significant amount of income from it, and I try to reduce my taxable income as much as possible by finding...
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Business Mileage – The Holy Grail of Tax Deductions
One of my favorite tax deductions is to deduct mileage used for business. If you are driving your car for business, you can deduct 55 cents for every mile you drive. That’s pretty generous in my...
View ArticleThoughts On Paying Off Mortgage
For most of us, when we buy our first house, having a mortgage or not isn’t really a decision we have to make. Few Americans, even high-income professionals, can afford to pay cash for a house. In...
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The Withdrawal Phase – Friday Q&A
Q. I am trying to get some information regarding retirement withdrawal for myself and my parents. My parents are still working. They have a 401K and my dad will also have a pension. My wife and I are...
View ArticleImplications of the Affordable Care Act on the Practice of Medicine
[Editor's Note: This is a guest post from Bill Pacquin, who describes himself as a patient care advocate and the CEO of a healthcare publisher called Vertical Health which produces Spine Universe and...
View ArticleTax Diversification Minimizes Your Retirement Tax Burden
I recently started writing one article a month for Physician’s Money Digest. My first article was about Tax Diversification and how it can help you to minimize your retirement tax burden. Check it...
View ArticleThe Right Way To Get Out Of A Real Estate Investment
It is relatively straightforward to get out of an investment in stocks, bonds, or mutual funds. You go onto your computer, make a few clicks, and voila, you’re out. Depending on the type of account,...
View ArticleTax Deductions For Medical Professionals
[Editor's Note: This is a guest post from Jayson Mullin, a partner at a tax debt resolution company called Top Tax Defenders. We have no financial relationship.] As with other professions, tax...
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