Tax planning and preparation can be overwhelming.
Before you know it, the end of the year is right around the corner and tax season is upon us. Most physicians don’t have the time to spend studying tax regulations and how to save their hard-earned money from common tax mistakes.
Martin, Bircher, Thompson, PC is experienced in providing expert support to medical professionals so that they can perform their financial obligations smoothly and on-time.
Tired of tax-season surprises? Take control of your taxes with our team.
Avoid Unnecessary Losses With Tax Planning
For medical professionals, taxes can take up a significant portion of pay without a solid tax strategy. At Martin, Bircher, Thompson, PC, we will take care of all the required tax documents so that your investments and assets aren’t overlooked or lost.
We’ll also discuss tax planning for the future and create an outline of actionable next steps. Tax planning is necessary to ensure that you are aware of and anticipate your specific tax obligations, avoid unpleasant surprises, and are able to take advantage of all of the opportunities that can minimize your overall tax liability.
Tax Planning Process
We begin this process with a review of your accounting reports from selected periods throughout the year. Our tax experts then project your overall tax liabilities for the year based on significant assumptions and/or events such as:
- Prior year results
- Practice trends
- Major equipment purchases
- Hiring of associates
We typically provide tax planning services one to three times per year.
Face Tax Season With Confidence
We specialize in helping medical professionals get ahead of their taxes and regain control so you can go into tax season with confidence.
FREQUENTLY ASKED QUESTIONS
What’s the difference between tax return preparation and tax planning?
Preparation means we take care of the required tax documents. Planning looks ahead: we project your tax liability for the year and outline actionable next steps so you can anticipate your obligations and avoid unpleasant surprises.
How often do you provide tax planning?
Typically one to three times per year.
What goes into a tax projection?
We start by reviewing your accounting reports from selected periods throughout the year. We then project your liability based on prior-year results, practice trends, major equipment purchases, and the hiring of associates.
Can you plan around a major purchase or a new associate?
Yes. Equipment purchases and associate hires are among the events we factor into your projection. If you’re also working out associate pay, our consulting services include associate pay calculations.
RELATED SERVICES
Our planning process starts with your accounting reports, so reconciled, categorized records give your projections a reliable starting point.
» Get Clear Financial Reporting
Filing requirements like 1099s and excise returns are handled alongside daily bookkeeping, so they don’t pile up at year-end.
Tax planning is one of the topics we cover in practice planning meetings, and consulting also includes retirement plan evaluation and setup.
» Strengthen Practice Operations
Need financial statements for a bank, partner, or other third party? We prepare compilation reports monthly, quarterly, or annually.