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Understanding Salary
I am moonlighting as a physician director and was promised a 5 percent benefit, but I was paid hourly. What is supposed to be my benefit as a director? What tax form should I get?
Question: I am moonlighting as a physician director and was promised a 5 percent benefit, but I was paid hourly. What is supposed to be my benefit as a director? What tax form should I get?
Answer: The answer to your question depends on the terms of your contract or agreement with the practice. Its payment should follow what is laid out there.
So, if the practice paid you hourly but the contract says it should pay you 5 percent (of what?), it will need to do that calculation and see if it owes you more or if you owe the practice a refund.
Income should be reported on income lines on your existing tax forms, I assume, but you'll want to consult your tax accountant to be sure.
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.
