newguy wrote:Can't you have a professional corp and hire your wife or at least pay her dividends. I was under the impression most docs did something like that.StuBee wrote:(I earn (self employed) more than 100K$ per year and my wife less than 15K$...).
ps Just interested, not to take it thread too far OT.
For a variety of reasons, our family average tax rate is currently very close to the fixed corporate tax rate AND I would have to take out almost all of the income anyway AND any secondary income within the corp is more or less fully taxed anyway... I performed a full analysis of this about a year ago (I wasted about a month of my mental energy... but I had fun ) and concluded that, in my case it was not worthwhile. If my net (after professional expenses) was significantly higher, it would have made sense. As I have been approaching financial independence I have been reducing my workload in an opportunistic fashion such that for a doctor, I have significantly below average earnings...