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Episode Synopsis
Locum Tenens vs. Permanent Position: Navigating Tax Advantages and Challenges
In this episode of The Locum CPA podcast, Stephen Lee, a certified public accountant, explores the tax benefits and challenges of locum tenens and permanent medical positions. Learn about the tax implications of being an independent contractor with locum tenens roles versus a full-time employee in permanent positions. Discover the impact on your financial situation, including self-employment taxes, deductions, employer-sponsored benefits, and retirement plans. Get tips on managing taxes, forming an S corp or LLC, and maximizing deductions and benefits for both career paths.
00:00 Introduction: Locums vs Permanent Positions
00:36 Defining Locum Tenens and Permanent Roles
01:20 Tax Implications for Locum Tenens Professionals
03:34 Tax Implications for Permanent Employees
04:48 Comparing Tax Benefits: Locum Tenens vs Permanent
05:50 Final Tax Tips for Locum Tenens and Permanent Employees
06:59 Conclusion and Final Thoughts
How to Start and Operate Your Locums Practice:
https://thelocumcpa.com/free-ebook/
🔔 Subscribe for more tips and strategies tailored for healthcare professionals!
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.
#locumtenens #TaxDeductions #PhysicianFinance #TaxTips #medicalprofessionals
In this episode of The Locum CPA podcast, Stephen Lee, a certified public accountant, explores the tax benefits and challenges of locum tenens and permanent medical positions. Learn about the tax implications of being an independent contractor with locum tenens roles versus a full-time employee in permanent positions. Discover the impact on your financial situation, including self-employment taxes, deductions, employer-sponsored benefits, and retirement plans. Get tips on managing taxes, forming an S corp or LLC, and maximizing deductions and benefits for both career paths.
00:00 Introduction: Locums vs Permanent Positions
00:36 Defining Locum Tenens and Permanent Roles
01:20 Tax Implications for Locum Tenens Professionals
03:34 Tax Implications for Permanent Employees
04:48 Comparing Tax Benefits: Locum Tenens vs Permanent
05:50 Final Tax Tips for Locum Tenens and Permanent Employees
06:59 Conclusion and Final Thoughts
How to Start and Operate Your Locums Practice:
https://thelocumcpa.com/free-ebook/
🔔 Subscribe for more tips and strategies tailored for healthcare professionals!
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.
#locumtenens #TaxDeductions #PhysicianFinance #TaxTips #medicalprofessionals
More episodes of the podcast Stephen Lee, CPA, CPWA®
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01/11/2025
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