From our financial coaching sessions with doctor clients and other entrepreneurs, I've noticed most of them are severely under-utilizing tax deductions that would significantly lower their tax liability and put more money in their pocket at the end of the day
Sebastian, Fla. (Vocus) March 12, 2009
Aftershocks from the United States' current financial crisis will continue to cripple businesses of all sizes across the nation for years to come. Among the most vulnerable who have a lot to lose are doctors. Doctors are in the highest income brackets, according to the U.S. Bureau of Labor Statistics, which means they lose about one-third (or more) of their annual earnings to taxes. And now, American doctors can make every dollar count by taking tax deductions they've been overlooking. Financial education company Pathfinder Business Strategies LLC announces top 20 tax tips for doctors, naming the most powerful, yet underutilized tax deductions available.
Pathfinder just launched a list of 20 tax tips for doctors that covers how to legally convert their largest personal expenses to business deductions and save thousands of dollars in taxes. Unfortunately, most doctors pull from a list of 25 to 50 business deductions, while there are more than 300 available. The tips are often missed by CPAs and include how private practitioners can pay for their child's wedding or education or buy big-ticket items like golf clubs through an awards program, and much more.
"From our financial coaching sessions with doctor clients and other entrepreneurs, I've noticed most of them are severely under-utilizing tax deductions that would significantly lower their tax liability and put more money in their pocket at the end of the day," says Pathfinder Business Strategies Founder Drew Miles. "Our country's poor economic status isn't likely to change soon, so it's that much more important for doctors to take advantage of tax breaks they're legally entitled to. Surviving and thriving in today's ever-changing market will require taking advantage of every opportunity."
Now that the 2008 tax year is coming to a close, it's time doctors become acquainted with deductions they should be taking moving forward so they can keep receipts and good records throughout the year.
For nine years, Pathfinder Business Strategies LLC has been helping entrepreneurs and business owners save thousands of dollars in taxes annually. The financial education company offers a host of services and products, including a financial coaching program, entity structuring expertise and a monthly magazine about wealth building and tax savings, Pinnacle. Formerly a New York lawyer, Miles now specializes in tax strategies and entity structuring. The company is located at 10305 102nd Terrace, Suite 102, Sebastian, FL 32958. To learn more about the company, please visit http://www.pfbs.com or http://www.save10kintaxes.com or call 888.695.2765.
Contact Publicist Echo Surina at Philanthropology LLC to schedule an interview with Drew Miles or receive Pathfinder's top 20 tax tips or list of 300 deductions for doctors.