ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 29: Sole Prop vs S-corp vs C-corp

As an ER Doc, odds are, you’re going to have 1099 income at some point in your career, if you don’t already. You need to know how to make the best use of it to reduce your tax liability and build wealth through retirement accounts.

We see so many people get this wrong, even when having the right information or working with a professional. There’s a lot of misinformation out there. In this episode, we provide 1099 income earning ranges where certain tax classifications may begin making sense, then dive into real numerical examples showing the tax savings difference getting it right can make.

Topics Discussed:
  • PPP update and why you might be eligible.
  • Tax deadline and extension reminders and information.
  • Why you would want to report via schedule C as a sole proprietor.
  • The prime place to operate as an S-corp and why that is.
  • Why you will want to move into C-corp and the benefits of that.
  • Example scenarios of each option you could choose.

Resources Mentioned:  


financial plan, ER, ER doctor, physicians, Finances, Jonny McMullen, Scott Wisniewski, 1099 income, sole proprietor,S-corp, C-corp, filing taxes, tax classifications, forms