S7, Episode 20 - The BIGGEST Tax Deduction for Small Practice Owners and 1099 Physicians

The Freedom Formula for Physicians | How Doctors Cut Debt & Slash Taxes | Business Of Medicine | Financial Education

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

Resources Mentioned:

Contact:

What's My Number? - [phone]

For all the show notes, and more, check out the podcast website at www.doctorfreedompodcast.com

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