Tax Strategies for High-Income Professionals

Many high-income professionals aren’t aware of the tax strategies available to them to reduce their tax bills. In Part 2 of our episode with Ben Martinek of Bona Fide Finance, we discuss tax strategies and financial planning tips tailored for physicians and other high-income professionals. Plus, we delve into overlooked tax deductions, the benefits of a flat-fee financial model, and complex strategies like the Augusta Rule, hiring children, and leveraging real estate investments. Tune in now to uncover actionable tips, avoid common mistakes, and take control of your financial future.

[00:07:07] Maximizing Tax Incentives for High-Income Earners
[00:10:44] Advanced Tax Strategies: Hiring Family and the Augusta Rule
[00:16:25] Qualified Small Business Stock Options
[00:22:33] Mega Backdoor Roth and Compliance
[00:26:23] Understanding Backdoor Roth Conversions
[00:27:59] Exploring Cash Balance Plans and Other Strategies
[00:28:27] Real Estate Investment Strategies for Doctors

🎧 Listen to Part 1: Taxes for High-Income Professionals: What You Need to Know. Don’t miss it for more essential tax strategies and insights.

🎉 This episode is sponsored by Bona Fide Finance – Trusted financial advisors offering flat-fee, comprehensive planning to help you build wealth and financial security. Book a consultation at bonafidefinance.com/wealthmindedmd or email [email protected] and tell them we sent you.

Got money questions you'd like us to tackle on our next segment of Wealthy Wonders? Visit our page to submit your query.

Be sure to go to our website to join the Wealthy Minds Community and download a FREE copy of our Wealthy Minds Blueprint.

Claim your debt freedom with our boot camp!

Don't forget to rate and review the show to help others discover us! When you do, you'll have a chance to win a free drink on us.

Wishing you a fantastic week ahead and happy wealth building!