W-2 PLUS SIDE INCOME
Your side income should not be an afterthought at tax time.
Proactive tax planning for physicians balancing a primary W-2 position with locums, telemedicine, medical-director, consulting or other 1099 income.
The real work is coordinating withholding, estimated payments, entity decisions, payroll, retirement contributions and deductions across both sides of your income.
What we look at
W-2 withholding that does not account for side income
Quarterly payments and how much cash to set aside
Whether the side income needs an entity or S-corp
Payroll and reasonable compensation when an S-corp is used
Coordinating an employer retirement plan with side-business options
Deductions connected to the additional work
Telemedicine, locums and multistate exposure
A plan that adjusts when the side income grows
Start with the questions.
A few minutes. Rough numbers are fine. No documents.