Written by Reed Tinsley |
June 4, 2008
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 the Author
Reed Tinsley CPA
This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on
accounting & tax,
practice management, and
financial planning.
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