Jimmy paid $180,000 in taxes last year—here’s how physicians can stop overpaying the IRS.
CPA Spencer Carroll from Gelt joins the show to unpack tax strategy for physicians: why your income type matters more than your income, and where the real savings hide. Whether you’re a W-2 employee, a 1099 locums doc, or a K-1 partner, the levers you can pull are wildly different.
What you’ll learn:
- Which of W-2, 1099, and K-1 is the best—and worst—way to get paid as a physician
- When an S corp actually makes sense, and how “reasonable salary” really works
- The truth about real estate professional status and the short-term rental loophole, from a CPA who owns rentals himself
- The one red flag that means you’re probably overpaying: barely talking to your CPA all year
Resources:
- 💵 Looking for a CPA that does more than just file taxes each year? Check out Gelt, the proactive tax strategy partner that Jimmy personally uses, and receive 10% off the first year through the MMM link.
