No more electric bills? Huge tax rebates? It sounds too good to be true, and unfortunately, in many cases, it is. The solar energy movement has gained momentum in recent years, fueled by lower solar panel costs, the consumer urge to fight climate change, and rising energy bills. However, the availability of real, but sometimes […]
Avoiding Solar Panel Tax Credit Scam: A Guide for Business Owners Read More »
At Cerebral Tax Advisors, we have often found that medical professionals love to invest in real estate since it is an excellent way to generate a return on investment, diversify your portfolio, and take advantage of tax write-offs. At first glance, it might seem advantageous to do so through an S-Corporation (S-Corp)—a structure known for
The S-Corp is the Wrong Entity Structure for your Real Estate Investments Read More »
An accountable plan is a reimbursement arrangement that allows employees to be reimbursed for out-of-pocket business expenses without those reimbursements being counted as taxable income. Accountable plans must follow specific guidelines to qualify for favorable tax treatment. Fortunately, complying with the tax laws isn’t overly complicated. In this guide, we’ll explore what an accountable plan
Accountable Plan for Physician Business Owners: What It Is and Why You Need It Read More »
For many self-employed physicians and medical professionals, the concept of a home office has become increasingly relevant, especially with the rise of telemedicine and administrative duties doctors can perform in the comfort of their homes. Claiming the home office deduction can provide tax savings for doctors who manage their practices or work from home regularly,
Home Office Deduction: A Comprehensive Guide for Doctors Read More »
Owning real estate can offer several benefits, from generating regular cash flow to tax write-offs. Many real estate owners seek to expand their knowledge through various educational programs, conferences, and courses. A common question that arises is: “Are these educational expenses tax deductible?” The answer hinges on whether your real estate activities are classified as
Are you familiar with the Per Diem rule? If you’re a physician doing locum tenens work, you want to be! Per Diem comes from the Latin meaning ‘By Day’, and so the ‘Per Diem rule’ refers to a daily travel allowance. You can make use of the Per Diem rule to compensate for lodgings, meals,
How Locum Tenens can use Per Diem rules and rates to stop tracking receipts Read More »
