Often, physicians only give minimal attention to their financial futures, but potential federal changes could make tax planning even more important. The proposed infrastructure bill would increase taxes, affecting those with an annual income higher than $400,000, which is not uncommon for physicians. These changes make it vital for physicians to sit down with their financial advisors and CPAs now to minimize their own tax burden.

Syed Nishat is a partner, Wall Street Alliance Group.

This article is sponsored by Wall Street Alliance Group, specializing in physician financial planning.

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Tax planning tips for physicians