MEDICAL PRACTICE
OWNER
Minimizing tax liability.
Maximizing wealth accumulation.
Our tax analysis reveals how physicians could
SAVE SEVEN FIGURES IN TAXES, even if they have a CPA.
MEDICAL PRACTICE
OWNER
Minimize tax liability.
Maximize wealth accumulation.
Our tax analysis reveals how physicians could SAVE SIX FIGURES IN TAXES,
even if they have a CPA.
A Physician is married and owns a medical practice in Louisiana.
• The couple has four kids, under 18
• Physician’s practice is an LLC located in Louisiana
• Approximate yearly income of $1.5 million
• The couple is interested in real estate as an investment
• Wife is looking to purchase a new vehicle this tax year
_________________________________________
TAXES OWED: $575,657
scroll for seven Tax Reduction Strategies
CASE STUDY: A PHYSICIAN'S SCENARIO
CASE STUDY: A PHYSICIAN'S SCENARIO
A Physician is married and owns a medical practice in Louisiana.
• The couple has four kids, under 18
• Physician’s practice is an LLC located in Louisiana
• Approximate yearly income of $1.5 million
• The couple is interested in real estate as an investment
• Wife is looking to purchase a new vehicle this tax year
______________________________
TAXES OWED: $575,657
scroll for seven Tax Reduction Strategies...
The Matthew James Tax Pros Approach:
IDENTIFY TAX DEDUCTIONS
DISCOVER LEGAL ENTITY STRUCTURES
UNCOVER UNKNOWN STRATEGIES
HARNESS EXCLUSIVE TAX PLAN
STRATEGY #1
$229,500
Savings in self-employment tax
Schedule C to S Corp
Federal Tax Savings: $84,915
State Tax Savings: $9,754
- Eliminates $1.5M in profits from being subject to the 15.3% Self-Employment Tax.
- Taxpayer will take a reasonable salary of $400,000.
STRATEGY #2
$275,000
Tax-deferred investment
Defined Benefit Plan
Federal Tax Savings: $101,750
State Tax Savings: $11,688
- Retirement plan with a contribution of $275,000 into a defined benefit plan.
STRATEGY #1
$229,500
Savings in self-employment tax
Schedule C to S Corp
Federal Tax Savings: $84,916
State Tax Savings: $11,688
- Eliminates $1.5M in profits from being subject to the 15.3% Self-Employment Tax.
- Taxpayer will take a reasonable salary of $400,000.
STRATEGY #2
$275,000
Tax-deferred investment
Defined Benefit Plan
Federal Tax Savings: $101,750
State Tax Savings: $11,688
- 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 child paid yearly salary of $14,600.
- Individual standard deduction is $14,600; salary tax-free.
- Preferred Option: Contribution into Roth of $7,000.
STRATEGY #4
$70,000
Deduction
Private Rental Strategy
Federal Tax Savings: $25,900
State Tax Savings: $2,975
- Private rental tax-free reimbursement.
Physician's
Tax Savings Readiness
- 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 medical professionals in focus
- Desiring liberation from feelings of entrapment or stagnation
- Primed to reclaim control and initiate a journey towards empowerment!
Physician's
Tax Savings Readiness
This tax analysis is for Physicians 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 medical professionals in focus
- Desiring liberation from feelings of entrapment or stagnation
- Primed to reclaim control and initiate a journey towards empowerment!
Minimize liabilities. Maximize wealth.
The Matthew James Tax Pros Approach:
IMPLEMENT TAX DEDUCTIONS
FIND ENTITY STRUCTURES
UNCOVER UNKNOWN STRATEGIES
HARNESS EXCLUSIVE TAX PLAN
STRATEGY #5
AUTO
EXPENSE
$148,000
Deduction
Federal Tax Savings: $54,760
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
$2,500,000
Purchase price
Federal Tax Savings: $222,000
State Tax Savings: $22,500
Physician could receive $510,000, using accelerated depreciation.
STRATEGY #7
ITEMIZED DEDUCTION
$500,000
Income reduction
Federal Tax Savings: $209,160
5 : 1 Medical Donation [limited to 50% AGI]
$50,000 minimum contribution
Remainder carried forward
- TAXES OWED -
BEFORE
MATTHEW JAMES
TAX PROS
$575,657
WITH
MATTHEW JAMES
TAX PROS
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
$600,000
Purchase price
REAL
ESTATE
Federal Tax Savings: $222,000
State Tax Savings: $22,500
Physician could receive $510,000
using accelerated depreciation.
STRATEGY #7
$250,000
Income reduction
ITEMIZED
DEDUCTION
Federal Tax Savings: $209,160
5 : 1 Medical Donation, limited to 50% AGI
$50,000 minimum contribution
Remainder carried forward
TAXES OWED
BEFORE MATTHEW JAMES TAX PROS
$575,657
WITH MATTHEW JAMES
TAX PROS
$553,524 Saved
96% Reduction
A glimpse of the Matthew James Tax Pros Approach: IDENTIFY TAX DEDUCTIONS DISCOVER LEGAL ENTITY STRUCTURES UNCOVER UNKNOWN STRATEGIES HARNESS EXCLUSIVE TAX PLAN
Your business. Your money. Your future.
Whether you’re a Physician, Social Media Influencer, Small Business Owner, Healthcare Contractor, Oil or Gas Business Owner, Professional Athlete, Professional Racer, or highly compensated Executive…
OUR STRATEGIES PUT MONEY BACK IN YOUR WALLET.
