Medical Professionals

Physicians, dentists, therapists, and independent practitioners running their own practices.

The Business Side of Patient Care

Clinical training doesn't cover entity structure, retirement plan design, or reasonable compensation. Those decisions have a large effect on what a practice keeps. We handle the financial side so the practice runs cleanly, and we look at structure with an eye toward the long term rather than just this filing season.

Deductions and considerations that often apply

Common in this industry, though whether any of them applies depends on your specific situation. Treat this as a starting point for a conversation, not tax advice.

Medical equipment

Diagnostic and treatment equipment depreciated, or expensed under Section 179 where eligible.

Practice premises

Rent or, if you own the building, depreciation and the related carrying costs.

Staff wages and benefits

Clinical and administrative payroll, along with the benefits you provide.

Retirement plan contributions

Solo 401(k), SEP IRA, or defined benefit plans can shelter significant income for higher earners.

Malpractice insurance

Professional liability coverage carried for the practice.

Licensing and continuing education

State licensure, board certification, and required CE.

Practice management software

EHR systems, scheduling, and billing platforms.

Entity structure and reasonable compensation

How the practice is organized affects self-employment tax. S corporations must pay owners reasonable wages.

Does this sound like your business?

If you recognized your own operation in any of the above, we'd welcome the chance to talk. A short conversation is usually enough for us to tell you whether there's money being left on the table — and if everything is already in good order, we'll tell you that too.

Let's talk about your business

Schedule a consultation and we'll walk through what applies to you.

Schedule a Consultation