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Tax planning is a crucial aspect of financial management for medical professionals. With a deep understanding of tax laws and strategic planning, physicians can optimize their financial situation, minimize tax liabilities, and retain more of their hard-earned income. This article explores various tax planning strategies tailored to the unique circumstances faced by medical professionals. Understanding […]

Physicians are among society’s most respected and crucial professionals, entrusted with the well-being of individuals and communities. Yet, despite their extensive medical training, many physicians lack sufficient knowledge about managing their personal finances. Financial education for physicians is not merely advantageous; it is essential for ensuring their long-term financial security and well-being. The Importance of

If you find navigating your student loans daunting and overwhelming, there’s a new plan that might just be what you’ve been waiting for.  The Education Department made a new repayment plan for student loans, called the Saving on A Valuable Education (SAVE) plan to help make paying back student loans easier. It’s different from the older

Most medical residents consider fellowship – an additional layer of training that allows them to delve even deeper into a specific medical subspecialty. It’s similar to a scholarship but is typically awarded at the residency or post-residency level.   While fellowships can be a great way to refine your skills and knowledge in a specific

Physicians, as dedicated medical professionals, your busy schedule can push tax filing to the corner. You blink, and suddenly the tax deadline has passed. Don’t worry. If you missed filing your taxes in 2024, you can still file a belated tax return. In this blog, we will cover handling a missed tax deadline, filling out

April 15 is the deadline for most people to file their individual income tax returns and pay any tax owed, but life happens and deadlines are missed.   If you miss the standard tax deadline, you may face penalties and interest for failing to file. Now, it’s important to understand the different types of tax penalties

As the famous saying goes, ‘A penny saved is a penny earned’. Tax planning is one of the ways that can help you save your taxes and increase your income. Now, as a medical resident, you’ve embarked on the exciting journey of residency.  Between long hours, demanding schedules, and the constant hunt for knowledge, finances

The time to file an income tax return is here. It’s a time marked by paperwork, calculations, and perhaps a touch of stress for some. While Tax Day can indeed be stressful and confusing for individuals and businesses alike, it doesn’t have to be.  By having a clear understanding of what Tax Day involves and

For Doctors in the USA, completing residency marks a significant milestone.Wherever you are in your journey to becoming a doctor it’s important to know about the life after residency that holds both challenges and opportunities.   In this blog, we will cover nitty-gritty details like life after residency, What comes after residency, the Career path

From the midwives of ancient times to Nobel Prize winners, the narratives of female doctors in the United States have undergone a remarkable evolution over the years.    As per the new data report from AAMC ( American Association of Medical Colleges), In 2021, more than one-third ( 37.1%) of the active physicians workforce in