Setting Up Your 2025 Tax Calendar: Essential Tips for Locum Physicians

In this episode of the Locum CPA podcast, Stephen Lee, a CPA specializing in locum medical professionals, guides you through setting up your tax calendar for 2025. Learn about the importance of meeting tax deadlines to avoid penalties, the quarterly estimated tax payment dates, and the different filing deadlines for various business entities such as LLCs, PLLCs, and S-Corporations. Discover practical tips for staying organized with calendar reminders, tracking income and expenses, and using accounting software. This video aims to help locum physicians stay ahead and prepared for their taxes, ensuring a smooth and penalty-free tax season.

00:00 Introduction to Setting Up Your 2025 Tax Calendar

00:31 Importance of a Tax Calendar for Locum Professionals

01:26 Key Tax Deadlines for 2025

02:54 Filing Deadlines for Different Entity Types

05:05 Practical Tips for Managing Your Tax Calendar

08:16 Recap and Final Thoughts

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The Locum CPA is hosted by Stephen Lee, a Certified Public Accountant and Certified Private Wealth Advisor®. On this channel, you will find strategic business advice related to locum tenens professionals. Topics to be covered will include how to set up and operate your locum tenens practice to maximize tax deductions, tax savings, pay quarterly estimated taxes and bring overall peace of mind when operating a locums practice.

The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.

Locum Doctors: Essential Tax Strategies for Maximizing Income

In this episode of the Locum CPA podcast, Stephen Lee, a CPA specializing in locum tenens medical doctors, breaks down why having a tax game plan is crucial for locum doctors. Covering key topics such as mentality shifts, estimated quarterly tax payments, choosing the right entity structure, maximizing deductions, retirement investment planning, and multi-state tax considerations, this episode is packed with actionable tips to help locum doctors save tens of thousands of dollars annually and build long-term wealth. Stick around to the end for valuable insights that can turn everyday expenses into tax-saving opportunities!

00:00 Introduction to Tax Planning for Locum Doctors

01:05 The Importance of Mentality Shift

02:06 Understanding Estimated Tax Payments

03:23 Choosing the Right Entity Strategy

05:03 Maximizing Deductions

07:01 Retirement and Investment Planning

08:31 Navigating Multi-State Tax Considerations

10:29 Conclusion and Final Tips

How to Start and Operate Your Locums Practice:https://thelocumcpa.com/

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The Locum CPA is hosted by Stephen Lee, a Certified Public Accountant and Certified Private Wealth Advisor®. On this channel, you will find strategic business advice related to locum tenens professionals. Topics to be covered will include how to set up and operate your locum tenens practice to maximize tax deductions, tax savings, pay quarterly estimated taxes and bring overall peace of mind when operating a locums practice. The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.

How Locum Doctors Should Pay Themselves Through an S Corporation

In this episode of the locum CPA podcast, CPA Stephen Lee provides detailed guidance on how locum doctors can pay themselves through their S corporation. The podcast covers crucial topics such as reasonable compensation, payroll, and distributions. Key concepts include why using an S corporation can lead to substantial tax savings, determining a reasonable salary, and navigating common IRS triggers. Stephen also shares best practices for running payroll, documenting salaries, and optimizing tax strategies. Don't miss this valuable information tailored specifically for locum medical professionals.

00:00 Introduction to Locum Doctors and S Corporations

00:51 Why Choose an S Corporation?

03:00 Understanding Payroll and Distributions

05:11 Reasonable Compensation Explained

07:48 Running Payroll Efficiently

11:33 Best Practices for Locum Professionals

14:17 Recap and Final Thoughts

How to Start and Operate Your Locums Practice:https://thelocumcpa.com/

🔔 Subscribe for more tips and strategies tailored for healthcare professionals!

The Locum CPA is hosted by Stephen Lee, a Certified Public Accountant and Certified Private Wealth Advisor®. On this channel, you will find strategic business advice related to locum tenens professionals. Topics to be covered will include how to set up and operate your locum tenens practice to maximize tax deductions, tax savings, pay quarterly estimated taxes and bring overall peace of mind when operating a locums practice.

The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.