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 »
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 a physician’s family – I know what that
Your objections, fears and worst-case scenarios of working with us Read More »
At the end of 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) act was signed into law, bringing in new changes and adaptations with regards to retirement savings. On the whole, the changes are positive. The bill appears to acknowledge that we’re all living a little longer, incentivizing businesses to provide savings plans
What changes does the Secure Act bring? How might physicians be affected? Read More »
We’re paying all of our attention to Medical Professionals You’ll notice we’ve made some big changes around here. We’re saying goodbye to Gallati Professional Services and coming back stronger as Cerebral Tax. GPS has served us well over the past 5 years. It’s our family name. It means something personal to us. But we decided
The Brains Behind Our Rebrand Read More »
