Maximize Your Signing Bonus: Smart Tax Strategies for New Attending Physicians
Starting your first attending job after residency or fellowship? You might be expecting a signing bonus, a common practice that can be a real financial boost. While the amount varies depending on your specialty, location, and employer (surgical specialties often see the highest bonuses!), it can be a welcome relief after years of training and upcoming moving expenses.
However, many are surprised to learn that signing bonuses are often paid and reported on a 1099 form, not a W-2. This means no federal taxes are automatically withheld. If your regular paycheck withholdings aren't enough (they most likely aren't), you could face a significant tax bill come April.
Don't get caught off guard!
At Tailwind, we specialize in helping medical professionals understand and manage their finances. We can help you:
Analyze your financial and tax situation: We'll review your income, deductions, and potential tax liabilities.
Optimize your bonus payment: We'll explore strategies to minimize the tax impact of your bonus.
Plan for your financial future: We'll help you create a comprehensive financial plan that includes budgeting, debt management, and investment strategies.
Ready to transform your financial future?
Experience the peace of mind that comes with a solid financial plan.
Read more
Why Saving for Retirement During Residency is Essential for Your Future
Whether you're in marketing, sales, or product design, you know the value of a quality landing page. These pages generate leads or sales with a single call to action (CTA) linked to specific campaigns.
The 50/30/20 Budget: A Practical Approach for Medical Residents
Whether you're in marketing, sales, or product design, you know the value of a quality landing page. These pages generate leads or sales with a single call to action (CTA) linked to specific campaigns.
Financial Foundations for Medical Residents: Budgeting, Risk Management, and Future Planning
Whether you're in marketing, sales, or product design, you know the value of a quality landing page. These pages generate leads or sales with a single call to action (CTA) linked to specific campaigns.
Maximize Your Signing Bonus: Smart Tax Strategies for New Attending Physicians
Starting your first attending job after residency or fellowship? You might be expecting a signing bonus, a common practice that can be a real financial boost. While the amount varies depending on your specialty, location, and employer (surgical specialties often see the highest bonuses!), it can be a welcome relief after years of training and upcoming moving expenses.
However, many are surprised to learn that signing bonuses are often paid and reported on a 1099 form, not a W-2. This means no federal taxes are automatically withheld. If your regular paycheck withholdings aren't enough (they most likely aren't), you could face a significant tax bill come April.
Don't get caught off guard!
At Tailwind, we specialize in helping medical professionals understand and manage their finances. We can help you:
Analyze your financial and tax situation: We'll review your income, deductions, and potential tax liabilities.
Optimize your bonus payment: We'll explore strategies to minimize the tax impact of your bonus.
Plan for your financial future: We'll help you create a comprehensive financial plan that includes budgeting, debt management, and investment strategies.
Ready to transform your financial future?
Experience the peace of mind that comes with a solid financial plan.
Read more
Why Saving for Retirement During Residency is Essential for Your Future
Whether you're in marketing, sales, or product design, you know the value of a quality landing page. These pages generate leads or sales with a single call to action (CTA) linked to specific campaigns.
The 50/30/20 Budget: A Practical Approach for Medical Residents
Whether you're in marketing, sales, or product design, you know the value of a quality landing page. These pages generate leads or sales with a single call to action (CTA) linked to specific campaigns.
Financial Foundations for Medical Residents: Budgeting, Risk Management, and Future Planning
Whether you're in marketing, sales, or product design, you know the value of a quality landing page. These pages generate leads or sales with a single call to action (CTA) linked to specific campaigns.
Maximize Your Signing Bonus: Smart Tax Strategies for New Attending Physicians
Starting your first attending job after residency or fellowship? You might be expecting a signing bonus, a common practice that can be a real financial boost. While the amount varies depending on your specialty, location, and employer (surgical specialties often see the highest bonuses!), it can be a welcome relief after years of training and upcoming moving expenses.
However, many are surprised to learn that signing bonuses are often paid and reported on a 1099 form, not a W-2. This means no federal taxes are automatically withheld. If your regular paycheck withholdings aren't enough (they most likely aren't), you could face a significant tax bill come April.
Don't get caught off guard!
At Tailwind, we specialize in helping medical professionals understand and manage their finances. We can help you:
Analyze your financial and tax situation: We'll review your income, deductions, and potential tax liabilities.
Optimize your bonus payment: We'll explore strategies to minimize the tax impact of your bonus.
Plan for your financial future: We'll help you create a comprehensive financial plan that includes budgeting, debt management, and investment strategies.
Ready to transform your financial future?
Experience the peace of mind that comes with a solid financial plan.
Read more
Why Saving for Retirement During Residency is Essential for Your Future
Whether you're in marketing, sales, or product design, you know the value of a quality landing page. These pages generate leads or sales with a single call to action (CTA) linked to specific campaigns.
The 50/30/20 Budget: A Practical Approach for Medical Residents
Whether you're in marketing, sales, or product design, you know the value of a quality landing page. These pages generate leads or sales with a single call to action (CTA) linked to specific campaigns.
Financial Foundations for Medical Residents: Budgeting, Risk Management, and Future Planning
Whether you're in marketing, sales, or product design, you know the value of a quality landing page. These pages generate leads or sales with a single call to action (CTA) linked to specific campaigns.