Story at-a-glance High earners can overpay taxes by tens of thousands without smart planning.Max out tax-advantaged accounts like 401(k), HSA, and backdoor Roth IRAs.Real estate, donor-advised funds, and 199A deductions help lower taxable income.Even W-2 doctors can deduct expenses like CME,

Story at-a-glance Estate planning protects your kids—financially and legally—if the unexpected happens.A will and trust help you decide who raises your children and who handles your money.Naming beneficiaries and a power of attorney avoids court delays and gives control to people you

Story at-a-glance Self-employment tax is steep—but deductible – You pay 15.3% in self-employment tax, but can deduct half to lower your taxable income.Home office, health premiums, and business expenses are major deductions – You can write off office space, insurance, supplies, CE, and

Story at-a-glance Doctors face unique tax challenges due to multiple income streams and business ownership.Understanding your tax bracket helps guide decisions on retirement contributions and deductions.Maximizing retirement and HSA contributions can significantly reduce taxable

Story at-a-glance Max out retirement contributions now – You can contribute to IRAs by April, but 401(k)/403(b) contributions must be in by December 31.RMDs are non-negotiable – If you’re over 70½, missing Required Minimum Distributions could trigger a 50% penalty.Prepay business expenses to

Story at-a-glance Small year-end actions can create big tax savings – Paying a little extra toward student loans or mortgages before year-end may boost your deductions now, not later.Harvesting capital losses is a smart move – Sell underperforming investments before year-end to offset capital

Story at-a-glance Investors often pull out at the wrong time, missing major gains during recoveries that follow market drops.Market timing requires near-perfect accuracy—being right 70% of the time—something almost no one achieves.Even “good guesses” are offset by hidden costs like missed

Story at-a-glance Tax rules are constantly changing, and as your financial life grows more complex, so do your filing needs.Online tax tools work well for simpler situations, offering affordable and fast filing options for physicians early in their careers.Higher income or business ownership