Running a medical practice means navigating complex tax rules that most general accountants miss. From medical equipment depreciation to HIPAA compliance cost deductions and multi-provider entity structuring, our CPA team specializes in helping physicians and health care providers keep more of what they earn - serving practices across all 50 states.
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Expert CPAs ready to help you save on healthcare practice taxes.
Maximize Section 179 and bonus depreciation on diagnostic equipment, imaging systems, and practice technology
Properly deduct the substantial costs of maintaining HIPAA compliance, cybersecurity, and EHR systems
Optimize entity structures for solo practitioners, group practices, and multi-specialty clinics
Strategic tax planning around practice revenue cycles, insurance reimbursements, and retirement contributions
Comprehensive tax preparation for sole practitioners, partnerships, and medical group practices including all required schedules and healthcare-specific forms
Accelerated depreciation on medical equipment, imaging systems, and office technology using Section 179 and bonus depreciation to reduce taxable income
Payroll management for medical staff, W-2 and 1099 processing for locum tenens physicians, and reasonable compensation analysis for S-Corp physician-owners
Guidance on optimal business structures - PC, PLLC, S-Corp, or multi-entity setups - to minimize self-employment tax and maximize asset protection
Monthly bookkeeping tailored for medical practices including tracking insurance reimbursements, patient receivables, and managing overhead expenses
Tax-advantaged retirement plan setup (SEP-IRA, 401k, defined benefit plans) and practice succession or sale tax strategies for physicians approaching retirement
Schedule a free call to discuss your medical practice, tax concerns, and financial goals with an experienced CPA.
We analyze your practice revenue, expenses, equipment assets, and current tax structure to identify savings opportunities.
Our CPAs build a customized tax strategy covering deductions, depreciation, entity structuring, and retirement planning.
We provide year-round support with quarterly reviews, proactive tax planning, and preparation of all required returns.
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Physicians and medical practices can deduct medical equipment and supplies, malpractice insurance premiums, HIPAA compliance and cybersecurity costs, continuing medical education (CME), professional licensing fees, EHR and practice management software, office rent and utilities, staff salaries and benefits, and professional services. Our CPAs conduct a thorough review to ensure you capture every eligible deduction specific to your practice.
The optimal structure depends on your specific situation. Many physician-owners benefit from an S-Corp election because it can significantly reduce self-employment taxes by splitting income between salary and distributions. However, state licensing requirements, the number of providers, and liability considerations all factor in. We analyze your practice revenue, growth plans, and state regulations to recommend the best structure - whether that's a PC, PLLC, S-Corp, or multi-entity arrangement.
Medical equipment like imaging systems, diagnostic tools, exam tables, and practice technology can often be fully expensed in the year of purchase using Section 179 (up to the annual limit) or bonus depreciation. For larger purchases, we develop a depreciation strategy that considers your overall income, planned equipment purchases, and long-term tax projections to time acquisitions for maximum benefit.
Yes. HIPAA compliance costs are ordinary and necessary business expenses for healthcare providers and are fully deductible. This includes security risk assessments, employee HIPAA training, encryption software, secure email systems, cybersecurity infrastructure, compliance officer costs, and any consulting fees for HIPAA audits. These costs can be substantial, and our CPAs ensure they are properly categorized and deducted on your return.
High-earning physicians often benefit from defined benefit plans, which allow significantly higher annual contributions than 401(k) plans alone. We also help set up cash balance plans, profit-sharing plans, and mega backdoor Roth strategies. The ideal plan depends on your income level, number of employees, age, and retirement timeline. We model different scenarios to maximize your tax-deferred savings while managing plan costs.
Schedule your free consultation today. No obligation, no pressure - just honest answers from a licensed CPA who understands healthcare.