Pro Tax Planning Tips For Physicians

Dr. Sarah Chen finished her emergency medicine residency last June with a decision many new attendings face across all specialties: accept a traditional W-2 hospital position or go the independent contracting route. Whether it's emergency medicine, radiology, anesthesia, or any other specialty, the 1099 opportunity landscape has exploded in recent years. After careful consideration, Sarah chose to go fully independent, taking on lucrative 1099 shifts at multiple hospitals that were desperate...

At Doc Wealth, we believe there is no one-size-fits-all way to organize partnerships with hospitals. Whether you are employed and receiving a W-2 or are an independent contractor physician receiving a 1099 depends on various factors including specialty and role. Most physicians have been W-2 employees at some point, so they inherently understand this model. The independent contractor (IC) model is a little more foreign to many, so here's how the pros and cons break down. Transitioning from an...

A 1099 contract and a W-2 salary can look nearly identical on paper and land very differently on the tax return. A 2026 guide to the math for physicians, the deductions and retirement room a 1099 unlocks, the breakeven premium, and the cases where W-2 still wins.