Tax deductions
New attending here. Wanted to tap the wisdom of my EM veterans. I am an IC with a LLC taxed as an S-Corp. What all should I be deducting as business expenses for maximal tax savings? (Source: Student Doctor Network)
Source: Student Doctor Network - November 7, 2019 Category: Universities & Medical Training Authors: onlyletters Tags: Emergency Medicine Source Type: forums
How do people survive off intern salaries?
Just as the title states..
I'm looking at certain internship sites like The Animal Medical Center in NYC, and they pay a salary of 27k... But this is NYC we're talking here with crazy ass prices. I don't even think the salary after taxes will even cover rent let alone other expenses like food, insurance, etc. How do these hospitals expect these interns to survive?? (Source: Student Doctor Network)
Source: Student Doctor Network - October 31, 2019 Category: Universities & Medical Training Authors: Nalra095 Tags: Veterinary Source Type: forums
Do you have a financial guy or cpa?
So my financial life is getting a lot more complicated with traditional to roth conversions, 2 w2 income, 2 or 3 1099 incomes, schedule C deductions for my sole proprietor llc, 3 broker accounts with trading activity. Plan of switching taxation status to S corp in 2020 instead of sole proprietor.
So far I've done everything myself. I can still probably pull off 2019 tax year with turbo tax. I didn't have any issues last year with schedule C deductions. But it will take me 6 or so hours to...
Do you have a financial guy or cpa? (Source: Student Doctor Network)
Source: Student Doctor Network - October 27, 2019 Category: Universities & Medical Training Authors: cyanide12345678 Tags: Emergency Medicine Source Type: forums
Is Pharmacy Financially Worth it? (An Open Letter to Prepharms)
Is Pharmacy Financially Worth it? Probably not.
If you have to take out 150-200k loans? Definitely not.
I know quite a few of you are considering expensive private schools and taking out huge loans to go to pharmacy school.
Here is a my attempt to show you why it is not a great idea.
To preface, I'm not married and have no kids.
I take home about 5300 a month after taxes and retirement savings in a state with no income tax, not alot compared to some of the guys on the forum...
Is Pharmacy Financially Worth it? (An Open Letter to Prepharms) (Source: Student Doctor Network)
Source: Student Doctor Network - September 29, 2019 Category: Universities & Medical Training Authors: Saiyo Tags: Pre-Pharmacy Source Type: forums
Discussing the "reality" with fellow classmates
Rising P3 here on a LOA. I just got off the phone with my good friend who's still in pharmacy school. I was talking about how I saw a post on reddit (and frankly seeing everywhere now after some research) about how if you do the math, as a new grad getting 80k a year, 60k after taxes, so 5k a month - 2k a month for student loans at 200k (the average for my college), so you take home 3k, at 36k-50k a year for about 10 years. And the redditor also added up the mortgage/rent, car payments...
Discussing the "reality" with fellow classmates (Source: Student Doctor Network)
Source: Student Doctor Network - August 28, 2019 Category: Universities & Medical Training Authors: Mcpickle Tags: Pre-Pharmacy Source Type: forums
More trouble on the horizon for IBR
“In response to the report, Department of Education Secretary Betsey DeVos said it further proves there is ‘significant risk in the federal student loan portfolio.’”
Americans committing fraud to lower student loan payments? Taxpayers could bear cost
A new report showed that people might be lying about their income and family size.
www.foxbusiness.com
Big Hoss (Source: Student Doctor Network)
Source: Student Doctor Network - July 31, 2019 Category: Universities & Medical Training Authors: Big Time Hoosier Tags: Dental Residents and Practicing Dentists Source Type: forums
Steps into Medicine/Paediatrics
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Steps into Medicine/Paediatrics
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Source: The Student Room - July 26, 2019 Category: Universities & Medical Training Authors: RChelol Tags: Medicine Source Type: forums
California doesn ’t have enough doctors. To recruit them, the state is paying off medical school debt
California doesn't have enough doctors. To recruit them, the state is paying off medical school debt
California will spend $340 million paying off doctors’ debts. In exchange, doctors must pledge that at least 30% of their caseloads will be devoted to Medi-Cal patients for five years.
www.latimes.com
Reporting from Sacramento —
Bryan Ruiz’s hands were still shaking an hour after he learned the $300,000 in medical school loans he took out to become a dentist were being wiped away by California taxpayers.
A year out of medical school, R...
Source: Student Doctor Network - July 17, 2019 Category: Universities & Medical Training Authors: CidHighwind Tags: Medical Students - MD Source Type: forums
Marriage
Pharmacists make six figures. I make around 190,000 after 401k. I am getting taxed so heavily (California) and with student loans to boot. Does marriage (to someone of lesser income) make a big difference for you all? The 2018 bracket listed up to 315,000 thousand dollars to reside in the 24% bracket. Whereas I am at 32% with my sub 200,000 gross income. I have been together with my SO for over 3 years. Is it a good decision? (Source: Student Doctor Network)
Source: Student Doctor Network - July 5, 2019 Category: Universities & Medical Training Authors: Twentytwelve2 Tags: Pharmacy Source Type: forums
Bernie Sanders Proposal to Forgive $1.6 Trillion on All Student Loan Debt
Bernie Sanders unveils plan to cancel all $1.6 trillion of student loan debt
Sen. Bernie Sanders unveiled a plan to cancel $1.6 trillion of student loan undergraduate and graduate debt for approximately 45 million people. His ambitious plan has no eligibility limitations and would be paid for with a new tax on Wall Street speculation.
www.wtva.com
No pre-qualification or limit cap. Anyone and everyone that has student debt will have it all forgiven. How? Taxing Wall Street on stock trades, bonds, and derivatives.
For those current pharmacists with...
Source: Student Doctor Network - June 25, 2019 Category: Universities & Medical Training Authors: BC_89 Tags: Pharmacy Source Type: forums
How to handle family loans for tuition?
Hey everyone!
I have been accepted to CDMI class of 2023. It being a private school it is on the expensive end so my grandparents are wanting to loan me all of the tuition at little to no interst rate so I can avoid federal loans. I am researching the best way for them to loan me the money to minimize taxes and fees and was wondering if anyone was in a similar situation and if so how did you handle it? (Source: Student Doctor Network)
Source: Student Doctor Network - June 5, 2019 Category: Universities & Medical Training Authors: Micpenn4 Tags: Dental Source Type: forums
Not withholding tax?
Might be a dumb question, but any of you do this? I figure not having your hospital withhold your tax gives a significant temporary boost to investable income. Even if you put it in a high saving account and get 2% interest.. can still get like 1000$ extra a year? Then just pay the taxes due during tax season.
Am i missing something? (Source: Student Doctor Network)
Source: Student Doctor Network - May 24, 2019 Category: Universities & Medical Training Authors: anbuitachi Tags: Anesthesiology Source Type: forums
What do you invest in?
I am curious on to how us hard-working pharmacists invest our money outside of our retirement accounts.
Do you invest in real-estate? Have a side-businesses? Are you a successful gambler?
I've done some real-estate investing myself and made about 20K after taxes. So far only one project.... (Source: Student Doctor Network)
Source: Student Doctor Network - April 8, 2019 Category: Universities & Medical Training Authors: PharmaSex Tags: Pharmacy Source Type: forums
Comparing healthcare systems
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Comparing healthcare systems
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Source: The Student Room - June 23, 2018 Category: Universities & Medical Training Authors: JazzyL Tags: Medicine Source Type: forums
Should I even Bother with Medicine?
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Should I even Bother with Medicine?
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Source: The Student Room - June 13, 2018 Category: Universities & Medical Training Authors: Hidan Tags: Medicine Source Type: forums
