Physician Tax Strategy: W2 vs 1099 vs K1

CPA Spencer Carroll 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:

• Head to moneymeetsmedicine.com/cpa to book a complimentary call with Gelt and get 10% off your first year. Subscribe to Money Meets Medicine wherever you get your podcasts, and leave a rating—it helps other physicians find the show.

Disclaimer: This episode is a part of a paid partnership between Physician Philosopher LLC with Better Technologies Inc. (DBA Gelt), a tech-enhanced tax-strategy company.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.