The Business Version of You

Did you know that business owners actually pay taxes differently than most other individuals do? And most doctors have a stream of income or can easily have a stream of income that qualifies them to be taxed at least partially as business owners? If you're getting income that doesn't have taxes withheld, that's called 1099 income. That money comes in, it has not yet been taxed. It's your responsibility to pay the taxes to the government. It's not taken out for you. Because that comes in on the Schedule C on your tax return, your accountant will fill in a bunch of boxes with business expenses. Then what's left after those business expenses is what you end up paying taxes on as a business owner on that business income. In this episode of the Doctors Eyes Only Podcast, we talk about the different ways doctors can potentially take advantage of tax strategies to enhance their current investment plan. 

We are not accountants. As a Financial Advisor, we do often work closely with accountants to help with client tax strategy, but we are not accountants. So any of these tax specific topics talked about in this podcast, we will defer to the expertise of your accountant and recommend that you run any of these things by your accountant before you make a final decision. 

Investment advisory services offered through Vestia Personal Wealth Advisors, Vestia Retirement Plan Consultants, and Vestia Advisors, LLC. Securities offered through Ausdal Financial Partners, Inc., 5187 Utica Ridge Rd, Davenport, IA. 52807 (563)326-2064. Member FINRA/SIPC. Vestia Personal Wealth Advisors, Vestia Retirement Plan Consultants, Vestia Advisors, LLC, and Ausdal Financial Partners, Inc. are independently owned and operated.

This material is intended for informational purposes only. It should not be construed as legal or tax advice and is not intended to replace the advice of a qualified attorney or tax advisor.  This information is not an offer or a solicitation to buy or sell securities.  The information contained may have been compiled from third-party sources and is believed to be reliable.