What changes does the Secure Act bring? How might physicians be affected?

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 …

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5 success rules for your S-corp

So you’ve set yourself up as an S-corporation.  As your business grows, it’s great to think about yourself as a separate entity from the business, so you’re not muddying the waters between personal and work finances, and you’re protected personally from liability.  While you’re legally a separate entity from your business under S-Corp, it’s important …

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Tax Tip Tuesday | Passive Income

*this is a transcript taken from our weekly Tax Tip Tuesday videos on Youtube.  You can watch it here. Hey everyone. Welcome to another Tax Tip Tuesday. My name is Alexis Gallati with Cerebral Tax Advisors, and today we’re going to talk about passive income. Well, basically I’m just going to explain what exactly passive income …

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Tax Tip Tuesday | 2019 Year-end tax tips to lower your liability

*this is a transcript taken from our Tax Tip Tuesday videos. You can find the full version on Youtube here. Hey everyone, welcome to another Tax Tip Tuesday. My name is Alexis Gallati, and I’m with Cerebral Tax Advisors. Now, what we’re gonna talk about today is the Section 199A deduction, and how you can actually …

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Tax Tip Tuesday | The Augusta Rule

*this is a transcript taken from our Tax Tip Tuesday videos.  You can watch the whole thing on Youtube here. Hey everyone, welcome to another “Tax Tip Tuesday.” I’m Alexis Gallati of Cerebral Tax Advisors, and today we’re gonna talk about the Augusta rule.  Now, I’m not sure if all of you know what the Augusta …

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Tax Tip Tuesday | Employee vs. Independent contractor

Hey everyone, welcome to another Tax Tip Tuesday. Today, I’m going to be discussing the difference between employees versus independent contractors. This is a really important topic because if you try to be independent employee and you’re actually an employee or… Sorry, I just got that screwed up. If you’re trying to be an independent …

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How industry expertise and a detailed plan will save one physician over $145,000 over the next 5 years

When David reached out to Cerebral for help, tax planning became more than just saving money. He was able to walk away with a long term financial plan. David had never had a tax conversation that focused on his individual needs. An internal medical Physician and family man, he wanted to find an expert who …

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