ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

Ep 03: The Largest Expense of Your Lifetime: Unpacking Hidden Taxes for MedSpa Owners

When it comes to taxes, many of us focus on the obvious: federal and state income taxes. But for high earners and MedSpa owners, taxes extend far beyond that, quietly eroding wealth through sales tax, excise taxes, property taxes, self-employment taxes, and more. These “hidden” taxes can add up to a significant portion of your annual income—often without you even noticing.

In this episode, we’re diving deep into the complete tax picture. We’ll explore how understanding and managing these often-overlooked tax liabilities can help you minimize your overall tax burden, freeing up more resources for growth and wealth building.

What You'll Hear:

  • Hidden taxes beyond income tax that affect MedSpas.
  • Using accountable plans for tax reduction.
  • Ways to minimize self-employment tax with S corp status.
  • Planning techniques like 1031 exchanges and opportunity zones.
  • Tips for avoiding tax penalties and interest.
  • How to track and report taxes effectively.
  • Tactics to turn tax savings into long-term wealth.
  • Steps to create a proactive tax strategy.

Tags:

medspa owner, aesthetics, injector, wellness, weight loss, fractional CFO, bookkeeper, tax preparation, financial advisor, accountant, wealth management, payroll, insurance, retirement planning, investment management, insurance, 529 planning, estate planning, cash flow planning

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