Advanced Tax-Planning Services for Physicians and Other Medical Professionals
25 Financial’s goal is to provide our clients with more confidence, time, and peace of mind by taking advantage of every wealth management and investment opportunity. Team 25’s tax professionals offer the tax planning services that offer our clients just that. We find relevant tax breaks for healthcare professionals that reduce the amount of taxes they owe.
We’re the financial advisors who make sure tax laws and tax codes work for our clients. We go beyond standard deductions for physicians and other high-income individuals and take calculated steps to alleviate our clients’ tax burden from the IRS.
Some of the tax-saving methods we employ to help our filers save money on tax returns include:
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Real estate investments are a major part of our wealth management strategies for doctors. Filing real estate portfolios correctly can help our clients save thousands each year. We help clients find the right filing status for real estate investments.
Managing retirement accounts for physicians can be tricky without the help of qualified professionals. Team 25 helps clients convert their retirement savings accounts, including moving pre-tax contributions from traditional IRAs to Roth IRA retirement accounts.
Doctors in the US are overwhelmingly generous with their time and resources. We document all qualifying tax-free charitable donations to reduce clients’ taxable income.
Physicians may be eligible for certain deductions on their taxes. We note all available tax deductions on medical expenses like health insurance premiums and malpractice insurance for both standard and locum tenens healthcare practitioners.
Many of our clients have their own practice; we make sure these practices are filed in the most tax-saving way possible. We help clients select S-Corp status for their business, if appropriate, to establish it as a pass-through entity. This classification offers tax advantages like eliminating corporate tax burdens and reducing tax liabilities.
Team 25 manages the right type of portfolios for our clients. We help them establish a direct indexing portfolio for tax-loss harvesting and other purposes to reduce overall tax bills.
Finding each individual tax write-off can be time-consuming; we take that burden away from our clients. We find available tax write-offs for business expenses like mortgage interests and utilities if home offices are used to help manage records or another aspect of a medical practice.
Financial planning for the general public doesn’t come close to wealth management and planning for our nation’s doctors. After all, they graduate with mountains of debt, start retirement planning later than average, and are popular targets for lawsuits and the IRS.
At 25 Financial, we believe in an unbiased and comprehensive approach to financial planning for doctors, an approach that must always be in each one’s best interest. Our extensive financial plans include insurance review and planning; debt management strategies; employee benefits planning and analysis; investment planning; proactive tax strategies; college savings, retirement, and legacy planning; estate and asset protection planning; and tax planning services for doctors.
Disclosure: We are not tax professionals, so please consult with your own tax professional before implementing any strategy discussed.
Content is intended for informational purposes only and should not be considered as financial advice. Please consult with a professional financial advisor and perform your own analysis before making any investment decisions.
