HEALTHCARE WORKER
Minimizing tax liability.
Maximizing wealth accumulation.
Our tax analysis reveals how contract workers could
SAVE SEVEN FIGURES IN TAXES, even if they have a CPA.
HEALTHCARE WORKER
Minimize tax liability.
Maximize wealth accumulation.
Our tax analysis reveals how contractors could SAVE SIX FIGURES IN TAXES,
even if they have a CPA.
A married healthcare worker is 38 years old and operates her own LLC.
The husband is 40 and a stay-at-home dad
The couple has 4 kids, all under 18
She contracts through their LLC with $500K in profit per year
________________________________
TAXES OWED: $145,593
scroll for seven Tax Reduction Strategies
CASE STUDY: A CONTRACTOR'S SCENARIO
CASE STUDY: A CONTRACTOR'S SCENARIO
A married healthcare worker is 38 years old and operates her own LLC.
The husband is 40 and a stay-at-home dad
The couple has 4 kids, all under 18
She contracts through their LLC with $500K in profit per year
_________________________
TAXES OWED: $145,593
scroll for seven Tax Reduction Strategies
STRATEGY #1
$76,500
Savings in self-employment tax
Schedule C to S Corp
Federal Tax Savings: $28,305
State Tax Savings: $3,251
- Eliminates $500,000 in profits from being subject to the 15.3% Self-Employment Tax.
- Taxpayer will take a reasonable salary of $150,000.
STRATEGY #2
$69,000
Tax-deferred investment
Defined Benefit Plan
Federal Tax Savings: $25,530
State Tax Savings: $2,933
- Retirement plan with a contribution of $275,000 into a defined benefit plan.
STRATEGY #1
$76,500
Savings in self-employment tax
Schedule C to S Corp
Federal Tax Savings: $28,305
State Tax Savings: $3,251
- Eliminates $500,000 in profits from being subject to the 15.3% Self-Employment Tax.
- Taxpayer will take a reasonable salary of $150,000.
STRATEGY #2
$69,000
Tax-deferred investment
Defined Benefit Plan
Federal Tax Savings: $25,530
State Tax Savings: $2,933
- Retirement plan with a contribution of $275,000 into a defined benefit plan.
STRATEGY #3
$58,400
Deduction
Paying the Kids
Federal Tax Savings: $21,608
State Tax Savings: $2,482
- Each of the four children will be paid a yearly salary of $14,600.
STRATEGY #4
$56,000
Deduction
Private Rental Strategy
Federal Tax Savings: $20,720
State Tax Savings: $2,380
- Private rental tax-free reimbursement.
STRATEGY #3
$58,400
Deduction
Paying the Kids
Federal Tax Savings: $21,608
State Tax Savings:
$2,482
- Each child will be paid yearly salary of $14,600.
- Individual standard deduction is $14,600; they will receive the salary tax-free.
- Preferred Option: Contribution into Roth of $7,000.
STRATEGY #4
$56,000
Deduction
Private Rental Strategy
Federal Tax Savings: $20,720
State Tax Savings: $2,380
- Private rental tax-free reimbursement.
Contract Worker
Tax Savings Readiness
This tax analysis is for contractors who are:
- Prepared to seize command of their financial destiny…
- Exhausted from funneling tens of thousands of dollars to the IRS instead of channeling it towards retirement savings
- Eager to embrace empowerment through tailored strategies crafted with the medical industry in focus
- Desiring liberation from feelings of entrapment or stagnation
- Primed to reclaim control and initiate a journey towards empowerment!
Contract Healthcare Worker's
Tax Savings Readiness
This tax analysis is for contractors who are:
- Prepared to seize command of their financial destiny…
- Exhausted from funneling tens of thousands of dollars to the IRS instead of channeling it towards retirement savings
- Eager to embrace empowerment through tailored strategies crafted with the medical industry in focus
- Desiring liberation from feelings of entrapment or stagnation
- Primed to reclaim control and initiate a journey towards empowerment!
Minimize liabilities. Maximize wealth.
STRATEGY #5
AUTO
EXPENSE
$148,000
Deduction
State Tax Savings: $6,290
Owner/operator purchased
$185,000 luxury SUV for business,
during the Tax Year.
80% of vehicle can be written off.
STRATEGY #6
INVESTMENT
PROPERTY
$92,000
Purchase price
Federal Tax Savings: $34,040
State Tax Savings: $3,910
STRATEGY #7
BOARD OF
ADVISORS
$50,000
Income reduction
Federal Tax Savings: $18,500
State Tax Savings: $2,125
- Strategic framework for involving family members in critical business and financial decisions
- TAXES OWED -
BEFORE MATTHEW JAMES
TAX PROS
$145,593
WITH MATTHEW JAMES TAX PROS
$145,593 Saved
100% Reduction
STRATEGY #5
$148,000
Deduction
AUTO
EXPENSE
Federal Tax Savings: $54,760
State Tax Savings: $6,290
Physician purchased luxury SUV for business, for $185,000 during the Tax Year. 80% of vehicle can be written off.
STRATEGY #6
$92,000
Purchase price
INVESTMENT
PROPERTY
Federal Tax Savings: $34,040
State Tax Savings: $3,910
Using Accelerated Depreciation
STRATEGY #7
$50,000
Income reduction
BOARD OF
ADVISORS
Federal Tax Savings: $18,500
State Tax Savings: $2,125
Strategic framework for involving family members in critical business and financial decisions
TAXES OWED
BEFORE MATTHEW JAMES TAX PROS
$145,593
WITH MATTHEW JAMES
TAX PROS
$145,593 Saved
100% Reduction
A glimpse of the Matthew James Tax Pros Approach: IDENTIFY TAX DEDUCTIONS DISCOVER LEGAL ENTITY STRUCTURES UNCOVER UNKNOWN STRATEGIES HARNESS EXCLUSIVE TAX PLAN
The Matthew James Tax Pros Approach: IMPLEMENT TAX DEDUCTIONS DISCOVER ENTITY STRUCTURES UNCOVER UNKNOWN STRATEGIES HARNESS EXCLUSIVE TAX PLAN
Your business. Your money. Your future.
Whether you’re an Oil and Gas Business Owner, Physician, Social Media Influencer, Small Business Owner, Healthcare Contractor, Professional Athlete, Professional Racer, or highly compensated Executive…
OUR STRATEGIES PUT MONEY BACK IN YOUR WALLET.
