We're closing out 2016 so let's end it properly with a few tax planning ideas. Open/contribute to a retirement vehicle such as a Traditional IRA, employer sponsored 401k (if you're a W2 employee), a SEP-IRA or a Individual 401k for those paid as 1099 independent contractors or single shareholder S-Corps or single member LLCs. The benefit of contributing to a tax deferred retirement vehicle is it lowers your AGI (Adjusted Gross Income), which then lowers your tax liability. A

Welcome and thanks for visiting! This blog is intended to assist health professionals in analyzing various financial decisions; student loan repayment options, tax mitigation strategies, retirement vehicles, business entities (i.e., sole proprietor, S Corp, LLC), and other personal and business financial topics. Your engagement is encouraged. An appropriate 1st topic might be the income driven repayment (IDR) options – IBR (Income Base Repayment), PAYE (Pay As You Earn), and