QTA Tax helps doctors and medical groups with their taxes. We work with clinics, dental offices, and large health systems across the Chicago area. Our team knows the tax rules that apply to the medical field. We handle tax filing, planning, and bookkeeping for all types of health care providers. Our goal is to help you pay less in taxes and keep more of your income.
Picking the right business setup matters a lot for doctors. It changes how much tax you pay and how you get paid. We help you compare options like S-corps, LLCs, and other setups. If your practice grows or adds new doctors, we help you make the switch. The right choice can save you thousands of dollars each year.
How you pay yourself as a doctor matters for taxes. The IRS has rules about how much salary a doctor-owner must take. We help you find the right mix of salary and profit sharing. This keeps the IRS happy while putting more money in your pocket. We also set up bonus plans and savings options that lower your tax bill.
Health care has extra rules that affect your money. HIPAA rules control how you store billing and patient records. Other laws limit how doctors can share fees or refer patients. We track these rules and make sure your finances stay in line. Our team watches for rule changes so you do not have to.
Medical tools and office gear can lower your taxes. X-ray machines, exam tables, computers, and software all count. We figure out the best way to write off each item you buy. Some items can be fully written off in the year you buy them. This can cut your tax bill by a large amount in that year.
Saving for the future is key for doctors and nurses. We help you pick the best savings plan for your income level. Options include 401(k) plans, SEP IRAs, and pension plans. Each plan has its own limits and tax perks that we match to your needs. Call our Oak Brook office at 630-881-4679 to set up a free meeting about your health care tax needs.