Accounting and Tax Services
Jun 04

5 quick tax perks: Put spouse on payroll

Gain these five tax benefits by hiring your spouse as a "bona fide" employee of your medical practice:

1. Build up tax-favored funds for retirement;

2. Shift taxable income away from the medical practice;

3. Get more "tax mileage" from business trips;

4. Expand family healthcare coverage/reduce healthcare premium costs for the family;

5. Ability to join employer-paid life insurance group.

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →