“Office manager “ is the official title.What duties?
You guys are paranoid.
This is all common
As common as crna’s paying themselves 40k in w2 salary as 1099 cause they are “nurses”
“Office manager “ is the official title.What duties?
Same duties 90% of paid government workers like congress do.What duties?
So, nothing. OK, at least you're now admitting it's tax fraud.Same duties 90% of paid government workers like congress do.
“Office manager “ is the official title.
And 90% of congressional people do the same. Except they are using taxpayer money.So, nothing. OK, at least you're now admitting it's tax fraud.
Nope. Side gig for surgeons when they do locums.For a solo private practice surgeon with an office and staff? Sure.
For an anesthesiologist with a home office? That’s a bit hard to sell.
My ortho and plastic surgeon buddies put their wives on the payroll. This is not uncommon.
This has been going on for the last 50-60 years folks. It’s not something new.
Now people stop putting their kids on the payroll around 30 years ago. But the spouse with official duties is legit expense.
So your defense is other people are unethical or lazy, so that excuses your criminal tax fraud?And 90% of congressional people do the same. Except they are using taxpayer money.
Again. It’s not criminal when the spouse/employee physically books hotels for ur locums assignment. When the spouse physically arranges taxes and organizes files.So your defense is other people are unethical or lazy, so that excuses your criminal tax fraud?
Keep digging.
Bend over Buddies-dutyWhat duties?
i tried to PM you but it won't let me start a conversation with you.Look. I’ve kept a detail list of all my transactions for almost the last 20 years.
If I’m taking a travel cme say on a cruise. Cruise with the family is 16k. My portion of the cruise is 5k. So I do travel cme. I write off 5k. I don’t write let the 16k. And I have the cme certificate.
I’m not worried about any audit.
Irs has corresponded with me twice. One time for over funding partial year shutdown of 401k. Got that resolved.
Other time was 5500ez form error.
Took care of both of that.
I know my taxes. Better than my accountant. But I still use my accountant just to double check things. I catch their own mistakes often. I’m that good knowing all the rules.
But we need to get to the crux.
500k Envison job 45-50 hours 10 weeks off (have to take full week off). W2
State academic job 450k plus generous benefits and 9 weeks off. W2. 457/402/401a. Free healthcare 45 hours a week
500k 1099 job no benefits 45 hours a wwek
Which job is better? The state academic job is the better cause of the benefit is better.
Now if u made 600k 1099 45 hours a week. That the math will favor the 1099 job.
How big is their office and how many others do they employ? I would assume that their practices are more complex and overhead much higher than an anesthesiologist. I know dentists that do the same but they have hygenists and assistants to deal with. Pigs get fat and hogs get slaughtered.My ortho and plastic surgeon buddies put their wives on the payroll. This is not uncommon.
This has been going on for the last 50-60 years folks. It’s not something new.
Now people stop putting their kids on the payroll around 30 years ago. But the spouse with official duties is legit expense.
What happens when you wanna fire your wife? She can sue you for sex harassment.. Prob not a good idea to hire your wife.. Keep things separateHow big is their office and how many others do they employ? I would assume that their practices are more complex and overhead much higher than an anesthesiologist. I know dentists that do the same but they have hygenists and assistants to deal with. Pigs get fat and hogs get slaughtered.
The travel cme you can name any location you want. It’s very simple. It will print out the location date cme certificate you choosei tried to PM you but it won't let me start a conversation with you.
can you explain more about travel cme? i understand you can expense the actual CME online course package, but does this automatically make your portion of travel expenses now a "work" trip? Or are you traveling to destinations where you also purposefully attend a CME course in person? Or both?
i tried to PM you but it won't let me start a conversation with you.
can you explain more about travel cme? i understand you can expense the actual CME online course package, but does this automatically make your portion of travel expenses now a "work" trip? Or are you traveling to destinations where you also purposefully attend a CME course in person? Or both?
What happens when you wanna fire your wife? She can sue you for sex harassment.. Prob not a good idea to hire your wife.. Keep things separate
You cant sleep with co-workers especially if they are underlings. Don't you have an Employee Handbook?Look at the other thread talking about ski conferences.
Literally just learned about this today.
If she sues you for sexual harassment, you probably have bigger problem in your hands.
I actually just googled “virtual personal assistant….” They charge $50-80/hr. They cannot go run errands for you, they cannot clean your office, or draw a bath for you.
If they (business owners) can hire a executive assistant, I certainly deserve one too.
Translated: cheating on taxes.AirPlay responding to emails on my 77 inch lg oled that has hdmi cable as well. That’s a legit purchase.
IRS code section 162 begs to differs. It’s legit. Reasonable expense.Translated: cheating on taxes.
Actually if you are self employed. Buying a $3000 suit for interview is considered a uniform expense as well as dry cleaning services.Lol. Gold Rolex to tell time which I use at work, my clothes which I wear to work, my washing machine which I use to wash the clothes I wear to work, brand new pool where I read my work emails, my boat which I use for business meetings, 50k trip to Europe where I read uptodate for 3 minutes fully funded cme trip included my employer spouse and 4 kids who I took pictures of and put on my work website that has 100 lifetime views.
Yep seems super legit. I hope the new IRS agents get to hear these totally legitimate business expenses.
But wouldnt you rather just spend 200 than 1000? Saved taxes wont make up the difference in absolute dollars spent out of your accountIRS code section 162 begs to differs. It’s legit. Reasonable expense.
What’s the difference between someone paying $1000/night at four seasons hotel vs $200 a night a Marriott residence inn for business expense conference? They are both considered reasonable expense for business.
Those are personal (and business) choices one can make when self employed. Regarding how much and what exactly gets expensed.But wouldnt you rather just spend 200 than 1000? Saved taxes wont make up the difference in absolute dollars spent out of your account
You can do 401K instead of SEP IRA. self contribution 20.5K. 40.5K for employer part. 40.5x4, 162K W2 compensation.I have an S-corp and am 1099. the problem with expenses is you still have to spend money though. It's an easy call when it comes to cars , food, office supplies though. ultimately the best part of it is taking advantage of the dividend component. Although the age old question is "what is reasonable salary" and I hear vastly different figures in pain management. With that being said, you would need to give yourself minimum 240k however to take advantage of the full allowable 60k SEP IRA contributions for yourself.
Sure. The Rolex is too. I'm sure the auditor won't find anything concerning buying a 3k suit as an anesthesiologist who wears scrubs.Actually if you are self employed. Buying a $3000 suit for interview is considered a uniform expense as well as dry cleaning services.
The travel cme you can name any location you want. It’s very simple. It will print out the location date cme certificate you choose
Expense it under education.
Again imagine telling that to an auditor with a straight face. Unless your write off is explicitly mentioned in tax law or has a court case in your favor, if they disagree with your explanation that you watched a video for 2 hours on a 6k cruise for medical education then it gets figured out in court where that 6k write off is not going to look like such a brilliant move.I think he's saying you can write off YOUR portion, not the whole trip. So, not the full $20k that you're spending for the family. If you're a family of four, then he's saying you could write off your $5k portion of that total trip cost.
I think he's saying you can write off YOUR portion, not the whole trip. So, not the full $20k that you're spending for the family. If you're a family of four, then he's saying you could write off your $5k portion of that total trip cost.
There is a breakdown on the cruise invoice. The first two guest are always the most expensiveI agree with you on the home office, car, spouse on payroll etc.
I am intrigued by this one. I take some very expensive trips with my family where lodging can easily run 20k for 2 weeks (times maybe 2-3 times a year). I’m obviously not attending an in-person conference (done that too at amazing locations and is a great write off) but would be happy to do a half-hour of CME virtually per night if I can write off an additional 60k/year.
Can you really buy the grand suite on a cruise for your family, do some virtual CME and write off the cabin? Seems like that could be an audit risk.
Gonna ask my accountant about this one. Interested for sure.
There is a breakdown on the cruise invoice. The first two guest are always the most expensive
So my last cruise was 15k for royal sky suites on rcl. The 3/4th guest were $1500 each approximately. So first two guest were 6k each.
U write off ur 6k.
So a cruise isn’t the most cost effective cost write off
Stay at real resort in Turks and Caicos and u can write off the entire hotel stay since it’s booked under ur name.
It has to be "usual and necessary." Online cme on a cruise or literally anywhere besides your home or office is neither. A 3k suit for an anesthesiologist isn't either. Nor is paying your children modelling feels unless they actually professionally model. The hammer will eventually drop on this nonsense.So I just emailed my accountant since I was definitely interested (and I’m into taking every legitimate tax break I can).
He says this used to be ok but due to widespread abuse the IRS has specifically written rules about cruises severely limiting deductions. He says it has to generally be a North American ship in certain North American ports, and generally is limited to 2k or a (small) per diem based on govt employee standards, except for the actual conference registration fee. He also said unless the activity was actually on board, he’d be careful since there are “necessary” clauses in the guidance and if you can do the material from your home office, it may be illegitimate when it comes to an audit.
I trust this guy since he’s been doing my accounting for 15 years, and specializes in doctors. Definitely tries to maximize all my legal shelters over the years.
I’m sticking to my Hawaii or European in-person resort deductions. They can’t argue it wasn’t necessary if the conference was actually at XYZ resort with live speakers.
Looked. Like I said. My usual effective tax rate when self employed was 15%.It has to be "usual and necessary." Online cme on a cruise or literally anywhere besides your home or office is neither. A 3k suit for an anesthesiologist isn't either. Nor is paying your children modelling feels unless they actually professionally model. The hammer will eventually drop on this nonsense.
Hold up, So what's the process on how to get travel CME credit? How do you show proof of doing an online CME when you're traveling on vacation? Is there a certain website that offers this? I'm a W2 but I would like to submit for my 3.5k CME allowance
. As long as you can provide a certificate with a location and dates, then you should be good.
It has to be "usual and necessary." Online cme on a cruise or literally anywhere besides your home or office is neither. A 3k suit for an anesthesiologist isn't either. Nor is paying your children modelling feels unless they actually professionally model. The hammer will eventually drop on this nonsense.
How would the IRS be able to prove in court that an expense was unusual and unnecessary? If not a $3k suit then how much is necessary to spend on a suit? Who decides the amount?
I think that’s wishful thinking. Even their FAQ section about tax deduction says that “we are not tax professionals and consult a CPA about deductions”…. Because they probably know about that IRS very specific guidance.
Again, I’m all for doctors taking the max legal deductions (god knows the ultra wealthy get away with far more). The key though is if it would actually stand in tax court. I’m guessing from my CPA advice that an in-person conference would, but virtual/cruise etc would not.
This whole thread reads like a primer of how to go to jail. And also a clear example of why we just need to implement a flat tax system and be done with all this nonsense. And also how to really piss off high earning W2 doctors.
People in other businesses do 10x more shadier things than 1099 paid health care providers.This whole thread reads like a primer of how to go to jail. And also a clear example of why we just need to implement a flat tax system and be done with all this nonsense. And also how to really piss off high earning W2 doctors.
This is correct. My accountant is a CPA, JD, and prior IRS agent. I am 1099 and I have virtually zero deductions that are legit. He says it’s very hard to justify an anesthesiologist deducting much because it would have to be legit for our actialNo
aneftp is "aggressive"
He freely and frequently posts about his colleagues / acquaintances committing tax fraud.
Nothing wrong with a home office deduction if you are careful about it. An anesthesiologist who employs a spouse to knock away another $58K in a 401k is committing a crime, full stop. Seriously - there's nothing legit there. Deductions to bring the tax bill for $1.2M in wages down to a $100K tax bill aren't legit. Come on.
Read his posts. They're on this page in this thread. Let's not all just nod along and pretend it's a good idea.
They've been getting away with it, so far. 87,000 new IRS employees will increase their risk of audit. I don't see how this is really that controversial.