-
CycleTrack and SDN are teaming up to make medical school admissions more transparent and accessible! Read the announcement to learn how we’re supporting the future of CycleTrack’s free application-tracking tools .
CPA for 1099 recs?
Started by stephenpatrickd
Get help with your application
Use all the free resources available to you from SDN: articles, guides, expert advising, forums discussions, and school research.
White coat investor has a list.
I tried using his list for mortgage lenders and half of them either didn't get back to me or offered ridiculous rates. He is also now basically just an advertisement for all the "courses".
Advertisement - Members don't see this ad
D
deleted87051
4 yrs ago I contacted several of the lenders on his list. Some of them never got back to me. But one was ridiculously on the ball, offered a fantastic rate, and got things done in record time. Even the realtor and the escrow folks were impressed. Happy to refer him if anyone is interested.
I found that asking my colleagues or 1099 CRNAs for local CPAs quite helpful. I think you need to interview the CPA on the phone and ask about experience working with medical providers who run a solo or 2 person small business. How aggressive is this CPA vs how conservative with deductions. You want to hire a CPA who fits in with your philosophy about the risk for audits. The more aggressive the deductions the more likely you won't survive the audit. I chose a middle ground CPA who reminds me often when I step over the line. I like to know the risk I am taking with each deduction: remember with tens of thousands of new IRS agents being hired in 2023 the chance for an audit is going way up. Hence, be prepared to pay the fine and defend the big deductions.
I generally like to limit my exposure to no more than $10,000 in "back taxes" owed due to deductions being denied in case of an audit.
exactly this, I just interviewed a handful of local CPAs last month. My main goals of every conversation were experience with 1099 docs/crnas, where on the spectrum of aggressive/conservative they fall, audit history, and then I had a few questions about specifics (how they calculate home office size, 280a, etc) that I asked to gauge their knowledge and practices. Obviously only considered CPAs that people said they liked. Most of the people I asked said they wouldn't recommend their person to a family member. Prices ranged between $1000-10,000 for S-corp fillings, and tbh the ones I liked most were on the cheaper side.
Thanks all for your replies.
Spd
Spd
PM me please.
keepassingas
New Member
PM me please. Thank you
Physician Tax Services & Strategists - | White Coat Investor
Tax strategy and planning is different from just filling out the forms every April. These WCI-vetted advisors can help you make sense of your complicated tax situation and suggest ways to lower your tax bill.
www.whitecoatinvestor.com
Here is the list from White Coat investor. Anyone contact them or use one? What were the fees? Are they aggressive?
I use Fox CPA.
I use Fox CPA. Switched this year after using one recommended by another anesthesiologist that claimed to handle many 1099 docs, etc.... but was unresponsive to emails and didn't know some basic stuff like what a back door Roth IRA was and how to do taxes for it, how a solo 401k works. I believe that Fox CPA has been much better so far based on my experience. The founder of the firm also posts on WCI forums and answered a question of mine that my prior CPA mislead me on (a reason I chose Fox).
Most docs have no idea if a CPA is good or not. Only if they find them to have a likable personality. So it's really tough to tell just based on recs of a layperson.
Physician Tax Services & Strategists - | White Coat Investor
Tax strategy and planning is different from just filling out the forms every April. These WCI-vetted advisors can help you make sense of your complicated tax situation and suggest ways to lower your tax bill.
Here is the list from White Coat investor. Anyone contact them or use one? What were the fees? Are they aggressive?
I use Fox CPA. Switched this year after using one recommended by another anesthesiologist that claimed to handle many 1099 docs, etc.... but was unresponsive to emails and didn't know some basic stuff like what a back door Roth IRA was and how to do taxes for it, how a solo 401k works. I believe that Fox CPA has been much better so far based on my experience. The founder of the firm also posts on WCI forums and answered a question of mine that my prior CPA mislead me on (a reason I chose Fox).
Most docs have no idea if a CPA is good or not. Only if they find them to have a likable personality. So it's really tough to tell just based on recs of a layperson.
Tyler Olson
Last edited:
D
deleted87051
Is he a CPA or a financial advisor or both?
Edit: just checked he’s an E.A. so qualified to give tax advice.
Last edited by a moderator:
Also, if you want to vet him he's quite active on twitter. Just scroll through his tweets/replies. He consistently gives very sound financial advice. He also works mostly with MD/DO's. I've been using him for around 3 years now. I live in SoCal and he lives in Michigan. All visits done by video, phone, or text.
Advertisement - Members don't see this ad
