It's not about how much money you make, but how much money you KEEP after taxes.
Most locum tenens physicians start out their work an receive income as a 1099, basically 'side hustle' money. But the best way to do it is to set up the right entity for you to be able to maximize your deductions (make sure to get with a tax professional who does strategic tax planning, not just an accountant or bookkeeper).
Once you have the right entity set up that is in context with your work and family situation; you can create a strategy that aligns with your professional and financial goals.
You can download my new Ultimate Locum Tenens Playbook right here: https://simonparsons.ck.page/locums
If you are a general, trauma or vascular surgeon you can book a 30 minute no-pressure strategy session with me: https://calendly.com/simonwparsons/physician-strategy-session?month=2023-12
Feedback - want to suggest a topic or ask a question, or have me put you in touch with a reputable recruiter? You can email me at
[email protected]
The book I mentioned in the episode is the Tax Free Wealth by Tom Wheelwright.