Independent Contractor Physicians : Generational Financial Partners | Georgia & Tennessee

Independent Contractor Physicians

If you put in the time, energy, and money to implement the right strategies, then being a 1099 independent contractor (IC) could potentially be a good fit. Note, it does involve more work at least in the early years, then a W2 employment arrangement. But this strategy can provide more employment flexibility and potentially increased tax efficiencies over the long term. We, at GenFi work with IC physicians all day every day, and are very familiar with planning strategies for professionals who opt for the IC arrangement. From life & disability insurance to LLCs & payroll to Solo 401ks & Defined Benefit plans, we’ll be right there with you.

Resources for IC Physicians

As an independent contractor physician, how could you benefit from switching to an LLC taxed like an S-Corp?

One of the primary benefits is to save on payroll taxes (social security and Medicare). GenFi owner, Ben Yin, MBA and Senior Partner, Nolan Pendleton, CFP®, role play and break down the details in this video.

Learn More

As an IC physician, what retirement plan is best?

Solo 401k vs SEP IRA vs Defined Benefit. Download the podcast to listen and learn more.

Learn More

Why Become an Independent Contractor Physician?

The 5 Mizes of Being an IC

Learn More

Tax Efficiencies

How Independent Contractor Physicians can potentially save an additional 20% through a Qualified Business Income Deduction

Learn More