2016 Tax Report
Between 2011 and 2015, WCI quadrupled his income, yet his effective tax rate has only gone up from 16% to 25%. Here's how he does that.
Between 2011 and 2015, WCI quadrupled his income, yet his effective tax rate has only gone up from 16% to 25%. Here's how he does that.
Need more tax-protected space? Consider giving part of your business to your spouse. Be sure to select the right amount of income to minimize the Social Security tax cost while maximizing the benefits.
Most docs realize the tax system is progressive. But do they realize that the health care system, the education system, and their own family is also?
Active real estate investors qualify for many unique tax breaks, some of which require you to be a "real estate professional" to get. Learn how to qualify, and also about deductions you can take without qualifying.
Many people don't realize that there are huge tax breaks available on both your current home and your second home. The home office deduction, however, probably isn't one of them.
Using a Section 105 Plan you can write off your employee's medical expenses. If you're careful, you might be able to write your own off as well.
As a general rule, I try to stay away from political issues on this website. However, this is a website all about the finances of high-income professionals, particularly doctors, and this "political i...
Taxes should be a primary and ongoing focus of every investor. Read this for ideas to minimize the effect of taxes on your portfolio.
[Update: Starting in 2018, this deduction is no longer possible since umreimbursed employee expenses are no longer deductible since the TCJA was passed.] Many physicians in training go away from their...
Some ways of expanding your Roth space come with significant costs, and some are a no-brainer. Find out which ones you should already be doing and which ones you ought to consider now and in the future.
Retire Secure, by CPA/JD James Lange, is the best financial book I have read in the last year. I recommend you buy it and read it. However, it is not the first financial book you should read. But afte...
[Editor's Note: Many high-income professional investors first learned about the Backdoor Roth IRA on this site. One of my most popular posts is the tutorial on the process. In the lengthy comments sec...
Each of the last three years I have done a post about taxes where I "revealed" the tax rate I'm paying. I'm not sure why people find that so interesting (voyeuristic maybe), but I've had a bunch of re...
By Dr. Toshi Clark, Guest Writer Betterment Robo Advisors Betterment is one of many new robo advisor services. They offer an automated tax loss harvesting service, "TLH+," as part of their standard ma...
My February column for ACEP NOW is all about The Alternative Minimum Tax. Typical physician incomes ($150K-400K) fall right smack in the middle of the range of folks hit by the AMT each year, so many...