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Started By
Message
re: 30-year-old makes over $300,000 a year in a hospital—without going to med school.
Posted on 8/26/25 at 1:08 pm to Bmath
Posted on 8/26/25 at 1:08 pm to Bmath
quote:
Read up on corp-to-corp contracting
A pass through LLC isn’t a corp. She could possibly make a corp and then select Chapter S status to pay herself a salary. But then in New Mexico, specifically, she may open herself up to being subject to the gross receipts tax as a professional organization
0
Posted on 8/26/25 at 1:11 pm to Bmath
Using pass through entity to take a “reasonable salary” and then take the rest as profits to save on the Medicare tax or whatever it is. Idk that’s why I hire a tax cpa to tell me how to do it.
White coat investor has a lot on how to determine a “reasonable salary”.
White coat investor has a lot on how to determine a “reasonable salary”.
Posted on 8/26/25 at 1:13 pm to tiggerthetooth
quote:
Sounds like shes working a ton of OT and travel gigs.
She’s working a ton of hours and in places most people don’t want to work. 1099 too, so no benefits. I applaud her, but she needs to be careful not to burn out.
Posted on 8/26/25 at 3:13 pm to Hangover Haven
quote:
Where did you went?
Where I went the Allied health students use the anatomy lab in the summer when the Med students weren’t using it.
Posted on 8/26/25 at 3:24 pm to LSUDVM1999
A lot of things seemed to line up for her.
Good for her. But she's traveling and working OT.
Without covid, she doesn't make this possible. Pause on student loan payments really helped her.
Also seems like some bullshite. She splits bills with her boyfriend, and this is impossible.
What about car insurance, car note? Yeah she could have paid her car off, doesn't say that though. But how is she only spending $39 in gas?
Good for her. But she's traveling and working OT.
Without covid, she doesn't make this possible. Pause on student loan payments really helped her.
Also seems like some bullshite. She splits bills with her boyfriend, and this is impossible.
quote:
Transportation: $39 on gas and tolls
What about car insurance, car note? Yeah she could have paid her car off, doesn't say that though. But how is she only spending $39 in gas?
This post was edited on 8/26/25 at 3:30 pm
Posted on 8/26/25 at 3:25 pm to Mingo Was His NameO
quote:
Still a lot of money, but she’s going to be 1099 and owe her 15% of the employment tax where as the doctor may also “make” relatively the same amount of money but his/her net pay will be a lot higher as an employee.
Many, if not most, doctors are 1099.
This post was edited on 8/26/25 at 3:27 pm
Posted on 8/26/25 at 3:29 pm to LSUDVM1999
She fine
AND
I'll bet that human bodily fluids do not gross her out.
AND
I'll bet that human bodily fluids do not gross her out.
Posted on 8/26/25 at 3:31 pm to wackatimesthree
quote:
Many, if not most, doctors are 1099.
I just went on a golf trip with 4 doctors last week. All 4 are w2 with additional 1099 call income
Posted on 8/26/25 at 3:31 pm to Champagne
quote:
She fine
She got that mexican fupa forming
Posted on 8/26/25 at 3:31 pm to Cosmo
Mingo is a retard confirmed
Posted on 8/26/25 at 3:32 pm to TheOcean
quote:
Mingo is a retard confirmed
What about having an LLC exempts you to paying your portion of employment tax esquire?
Posted on 8/26/25 at 3:34 pm to Cosmo
quote:
You avoid overpaying on medicare and SS
I can't make what you are saying make sense.
A passthrough LLC won't help but taking an S corp election could in some cases. The problem here is how do you make an argument the full compensation of the NA is not "reasonable salary"? It isn't like they are running an anesthesia business and rolling in their own GE Aisys into the suite. Where are the tax-free distribution profits coming from? Also, to not "overpay" on SS you would have to argue the reasonable salary was less than $168k for 2024.
Posted on 8/26/25 at 3:34 pm to Mingo Was His NameO
Clearly he meant forming an LLC and electing S Corp status to set his distributions/salary to avoid SE taxes on distributions you idiot. You're just arguing to argue
Posted on 8/26/25 at 3:35 pm to TheOcean
quote:
Clearly he meant forming an LLC and electing S Corp status to set his distributions/salary to avoid SE taxes on distributions you idiot
Clearly he just didn’t know what the frick he was talking about
He said “surely she has a pass through LLC to avoid that.” A pass through LLC by definition can’t be an S Corp because it flows through to your personal return.
And by the way, if she’s working in New Mexico, electing as an S may not even be a good thing since they have a gross receipts tax
This post was edited on 8/26/25 at 3:37 pm
Posted on 8/26/25 at 4:13 pm to TheOcean
quote:
Clearly he meant forming an LLC and electing S Corp status to set his distributions/salary to avoid SE taxes on distributions you idiot.
Yes, however, how is a NA arguing her full compensation is not "reasonable salary"? Where are the non-taxable profits coming from to distribute?
I am an equity partner in a firm, so I own part of the firm. Part of my compensation is a reasonable salary, and part is profit that, through my S corporation election, is not subject to SS or Medicare, though all I am really saving is the 2.9% for Medicare for those profits.
Posted on 8/26/25 at 4:31 pm to HoustonGumbeauxGuy
quote:
8-10 years is how much time they spend in school - my sister in law is a CRNA.
Bachelor’s of Science in Nursing (BSN) 4-5 years
Work as a nurse in ICU setting 1-3 years
Nurse Anesthesia (CRNA) School 3 years
So, minimum of 8 year path.
They make more than many doctors.
Posted on 8/26/25 at 4:41 pm to LSUDVM1999
300 is ok, but she would be making way more than that right out of welder or plumber school.
Posted on 8/26/25 at 4:54 pm to LSUDVM1999
My buddy is a CRNA and does travel nursing - pulls in ~$400k a year and typically is off for 2-3 months out of the year. It is definitely a sweet gig if you want to travel all around the country. Even the home CRNAs bring in ~$250k a year which is pretty damn good for not having extensive schooling
Posted on 8/26/25 at 5:01 pm to LSUDVM1999
Woman in the article is a CAA, not a CRNA. Doesn’t have to go the nursing route before hand and is a masters vs a doctorate. But Last time I checked they could only practice in 20 or so states and must work under an anesthesiologist. Still a good gig based on the pay and amount of schooling required vs the others.
This post was edited on 8/26/25 at 5:04 pm
Posted on 8/26/25 at 5:02 pm to Mingo Was His NameO
quote:
An LLC doesn’t do anything but protect your personal assets and you can’t just avoid employment taxes
fricking idiot
If you designate the tax status of the LLC as an "S" corp, you can pay yourself a "reasonable salary" on which you will pay 15% self employment tax, however you can pay yourself the rest as a dividend. You'll still have to pay income tax on it but you will save the 15% self employment tax on it. I am moving my LLC to an S corp after the first of the year because the amount of income I am now making from it justifies the extra expenses I'll have getting my CPA to handle quarterly taxes, filing reports etc.
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