Financial strategies for a financially fit 1099 Physician

Financial strategies for a financially fit 1099 Physician.

Physician financial advisors give a “financial bootcamp.” 

In the "1099 Boot Camp" video, Ben Yin, Founder of Generational Financial Partners, and Senior Partner Nolan Pendleton guide independent contractor physicians through the intricacies of financial management. With 95% of their clients being physicians, the two share their deep expertise to this hour-long session that covers the “Five Mizes” framework: Optimize, Maximize, Customize, Fleximize, and Minimize.

Key Highlights:

Debunking LLC Myths: Common misconceptions like needing an LLC for asset protection, retirement savings, business deductions, and payroll flexibility are clarified.

Tax-Saving Strategies: How forming an LLC taxed as an S Corporation can save thousands in self-employment taxes. Plus, understanding the Pass-Through Entity (PTE) and Qualified Business Income (QBI) deductions.

Retirement Planning: Maximizing contributions through Solo 401ks and Defined Benefit Plans.

Expenses: Tips to optimize deductions for expenses like insurance, technology, and travel.

The video offers valuable insights and actionable advice for any physician looking to thrive financially as an independent contractor.