The Freedom Formula for Physicians | How Doctors Cut Debt & Slash Taxes | Business Of Medicine | Financial Education
S7, Episode 20 - The BIGGEST Tax Deduction for Small Practice Owners and 1099 Physicians
Manage episode 336782682 series 2360913
Are you looking for a substantial tax deduction? If the answer is YES and you're an independent contractor or you're a small practice owner, then this is something you should look into.
In this episode, Dave talks about…
- What are benefit plans?
- The basics of the defined contribution plan versus the defined benefit plan
- Explanation of defined contribution plans
- Can an independent contractor or a small practice own their pension plan?
- What happens if you hire a third-party administrator to help calculate how much you can put in?
- Cons of hiring a third-party administrator
What's My Number? - (612) 284-2409
For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com
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