1099 Tax Doctor
1099 Tax Doctor is a physician-founded and managed one-stop-shop for tax strategy, mitigation, and filing. We specialize in tax mitigation for primarily high income physicians making more than $100k in 1099 revenue, although we also offer tax preparation services for individuals and businesses, provide defined benefit plans and third party administration, and handle accessory accounting services such as payroll and bookkeeping. Our goal is to ensure physicians get quality tax assistance for reasonable and transparent prices. We work almost exclusively with physicians and understand their tax situations.
Why You?
We make it as easy and inexpensive as possible to lower your taxes by tens of thousands of dollars. Let's say you want an S corporation and defined benefit plan, which makes sense for most high earning 1099 professionals. We open your LLC/PLLC, obtain the EIN, file your 2553 S election, open your state withholding accounts, handle payroll for your S corp, open your defined benefit plan and obtain the actuarial calculations and plan documents, advise on funding levels, and file all your tax returns including personal 1040 and 1120S. All that is left for the client to do is open a business bank account and business credit card. We take care of everything else.
Ideal Client
Ideal clients will have > $100k in 1099 revenue, which is best for tax mitigation. We will also be a good fit for clients who have more complicated tax situations, such as partnerships requiring 1065s, real estate investments with enhanced depreciation, S corporations or C corporations, or who would like to use a cash balance defined benefit plans or need payroll or bookkeeping services.
Services Offered
- All tax preparation and filings, including 1040, 1120, 1065, etc
- Setup of corporate entities such as LLCs, PCs, and S corp tax designations
- Third party administration of cash balance defined benefit plans
- Payroll, bookkeeping, and accounting services as part of broader tax mitigation strategy
Experience and Designations
Our lead CPA is also a tax attorney admitted in tax court and has filed > 3,000 corporate returns without a single audit. He specializes in business and real estate tax law and has extensive experience advising high earning professionals in general and physicians in particular. Our brokerage/benefits partner is SEC-registered and is a fiduciary. 1099 Tax Doctor was founded and is managed by a board certified emergency physician who is also an entrepreneur and founded a payroll company servicing over 500 business clients.
Fee Structure
Our usual tax package which makes sense for most high earning 1099 physicians includes an S corporation and defined benefit plan with layered non-prototype solo 401k , along with payroll for the S corp, TPA and actuary services, and all tax filings including personal and S corp tax returns. Average tax savings for such clients is around $40k and costs around $6k per year total, all inclusive.