High-contribution retirement strategy, entity structuring for PCs and PLLCs, and payer reimbursement bookkeeping for physicians and practice owners.
Medical practices deal with a specific mix of complex payer reimbursement, retirement plan opportunities that most other small businesses do not have access to, and entity structures that vary meaningfully by state and specialty. Hasco Tax Advisors works with physicians, specialists, and practice owners on the bookkeeping and tax planning that fits how a medical practice actually generates revenue and pays its people.
Physician-level income typically justifies retirement plan strategies beyond a standard SEP-IRA. A Solo 401(k) or a defined benefit/cash balance plan can allow six-figure annual contributions for high-earning owners, meaningfully reducing current taxable income while building substantial retirement savings. We model out which plan structure actually fits your income and practice structure.
Many states require physicians to operate through a Professional Corporation (PC) or Professional Limited Liability Company (PLLC) rather than a standard LLC. Layering an S-Corp election on top of that structure, where permitted, allows splitting income into reasonable salary and distributions, the same mechanism that drives S-Corp tax savings in other industries, but with state-specific rules that need to be confirmed first.
Many physicians earn 1099 income from locum tenens work or moonlighting shifts alongside W-2 employment at a hospital or group practice. This creates a Schedule C filing with its own deductions, quarterly estimated tax obligations, and potential retirement plan opportunities separate from an employer plan.
Buying into a practice or being bought out has tax consequences that depend heavily on how the transaction is structured, asset purchase versus stock purchase, and whether goodwill is involved. These transactions are worth modeling out with a tax professional before terms are finalized, not after.
Insurance and Medicare/Medicaid reimbursements are tracked from claim to payment, giving you a real accounts receivable picture across a complex payer mix.
Payroll processed for a full range of roles, physicians, nurse practitioners, administrative staff, each classified and compensated correctly.
Books are structured to support high-contribution retirement strategies, tracking employer and employee contributions accurately against plan limits.
Practices structured across a PC and a separate real estate holding entity for the office building are reconciled together, correctly handling intercompany rent and management fees.
Join the individuals and business owners who trust Hasco Tax Advisors with their most important financial decisions. Your first consultation is completely free, and you will leave it with a clear, direct answer on what is needed and what it costs.