Should I pay off my mortgage or invest?
September 16, 2020
Professionals with high incomes are often faced with difficult financial choices. One of the most common and difficult choices is whether to focus on paying off a mortgage. Doing so can remove one of the largest financial burdens most individuals face. Alternatively, investi...
When do I file MFS versus MFJ?
September 10, 2020
Your marriage status has a large impact on your taxes. But even when you’re married, you still have a serious tax choice to make. While taxes aren’t the most romantic topic to discuss with your partner, you’ll want to have the talk. So, cuddle up in bed, get a glass of...
Changing the character of your income to save tax
September 2, 2020
If you’re making money, you’re going to pay taxes. There’s simply no way around it. However, the nature of your income will determine the amount you pay in taxes. Furthermore, you can change the character of your income to save more of your income....
Why real estate can help lower your tax bill
August 24, 2020
Too many doctors rely purely on W-2 income, and the harder you work and the more patients you take on, the higher your taxes end up being. For physicians and similar busy professionals, real estate investing can be a low-maintenance, low-effort form of earning additional cas...
How can I strategize my tax planning as a W-2 only earner?
August 17, 2020
Form W-2 is the most commonly filed tax document in the US. It’s a simple document that employees file every year. These taxes will cost you 10% to 37% of your income, depending on how much you make. But there are several ways to save on taxes that don’t immediately meet...
Today let’s take a moment to address the elephant in the room.
You may not have had the best experience with financial advisors so far in your career.
Many of our clients were preyed on by insurance salespeople when they came out of medical school. Coming from ...
How a couple saved $126,000 in tax for retirement, and found peace of mind during a big business change
July 13, 2020
Jeff and Trisha are a couple with two kids living in California. When they came to Cerebral for advice, Jeff had recently changed from doing W-2 work to running his healthcare business as a full 1099 independent contractor.
Jeff already had a strong feeling he was paying too...
Signing bonuses and their tax implications
June 29, 2020
A signing bonus is a financial incentive that an organization or business offers a prospective employee in order to woo them to join up. It could be given in the form of a one-time major cash payment or stock options and may as well be a combination of both.
Signing bo...
Should I buy a vehicle through my healthcare business?
June 22, 2020
Buying a vehicle through your business isn’t entirely different from buying one personally. But before you buy a vehicle under your business’s name, there are several factors you must consider.
When you buy a vehicle through your business, you will be faced with differen...
I am always looking for ways to put more money into my retirement. Chris and I currently have 10 (yes ten!) retirement accounts with a mixture of pre-tax and post-tax accounts. Each account has its own unique set of rules, contribution amounts, and investment strategies. For...
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