EP 103: ER Doctors Are Getting Behind On Their Taxes

October 27, 2021

By

Scott Wisniewski, EA

The IRS is a formidable force that shouldn’t be taken lightly. So when you owe what are referred to as “back-taxes,” how those are handled is extremely important. Despite the plethora of options that the IRS gives to help taxpayers stay current with their taxes, all too often we find ER Docs are owing significant amounts from prior years. And back-taxes can have this almost quicksand like effect where you never feel like you can get back ahead once you get behind.

On today’s episode, we get into the “why” and “how” ER Docs find themselves in this position, what the various options are to get back to current, and how a detailed cash flow plan may be the only way to truly avoid a levy or garnishment situation.

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Topics Discussed:

When you can apply for student loan forgiveness.
What back-taxes are.
How ER Docs find themselves owing back-taxes to begin with.
What to do if you owe back-taxes.

Resources Mentioned:

ERdocadvisor.com ‍

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Tags

planning, financial planning, ER doctor, doctors, finances, retirement, financial freedom

EP 225: Election Year Markets: The Surprising Truth Behind Predictions

by

Scott Wisniewski, EA