ESSENTIAL S-Corp Tax Savings Checklist for ALL S-Corp Owners

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Maximize Your S Corp Tax Savings as a Locum Medical Professional

In this episode of the Locum CPA Podcast, CPA Stephen Lee guides new and experienced locum medical professionals through an S Corp tax-saving strategy tailored specifically for them. With the New Year upon us, Stephen Lee emphasizes the importance of reviewing your S Corp setup to maximize tax benefits. He discusses projecting income for the year, determining reasonable salary versus distributions, making retirement contributions, and maximizing tax deductions. Don't forget to comment your New Year's resolutions and share this valuable advice with fellow locum professionals!

00:00 Introduction to S Corp Tax Strategies
00:44 New Year Resolutions and Podcast Goals
01:53 Importance of Reviewing S Corp Tax Strategies
02:25 Step 1: Projecting Your 2025 Income
04:40 Step 2: Determining Reasonable Salary
06:56 Step 3: Planning Retirement Contributions
10:55 Step 4: Maximizing Tax Deductions
14:55 Conclusion and Upcoming Topics

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The Locum CPA is hosted by Stephen Lee, a Certified Public Accountant and Certified Private Wealth Advisor®. On this channel, you will find strategic business advice related to locum tenens professionals. Topics to be covered will include how to set up and operate your locum tenens practice to maximize tax deductions, tax savings, pay quarterly estimated taxes and bring overall peace of mind when operating a locums practice.

The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.