ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 183: $380K in W-2 vs. $380K in 1099

ER docs tend to think of their income in shifts. We tend to think of it more from an after-tax perspective. In other words, we’re interested in how much ER docs get to keep, after taxes. So strategizing around that bottom line instead of simply working shifts can make a big difference not only on the perception of working, but also for wealth building.

On today’s episode, we’ll provide a simple breakdown and comparison between the two income types and the take-home they both receive off the same gross salary.

Topics Discussed:   

  • What to know about extensions and making an estimated tax payment.
  • The difference in tax liability between 1099 and W-2 for the same income.
  • Examples of clients weighing the options of the two kinds of income categories.
  • What you need to do to start comparing properly.
  • Important taxes to keep in mind when it comes to the different categories.

Resources Mentioned:


financial strategy, wealth building, incometypes, W2, 1099, ER doc finances, financial planning, financial planner, emergency medicine, ER docs, emergency doctors