Accounting for Cardiologists

Tax strategy and structure for high-income physicians and 1099 earners in cardiology

Accounting for Cardiologists

Whether you work under contract, manage your own practice, or earn income across multiple hospitals, your tax situation is anything but typical.

At Accolade Accounting, we support cardiologists with year-round financial planning, entity structuring, and tax filing built for high-income medical professionals. We help you stay compliant, capture deductions, and avoid surprises.

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What We Help Cardiologists Do

1099 Tax Filing & Estimated Payments

Quarterly and year-end tax filing, multi-entity and multi-state support

LLC or S-Corp Setup

Evaluate and implement the structure that minimizes your tax liability

W-2 to 1099 Transition

We make it smooth, compliant, and fully deductible

Deductions & Expense Tracking

CME, licensing, travel, equipment—we help you capture every qualified deduction

Compensation & Retirement Strategy

Optimize your salary, SEP IRA, or solo 401(k) contributions for long-term growth

IRS Audit

Defense, documentation, and proactive filing to keep you protected

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LLC vs. S-Corp for Cardiologists

	LLC	S-Corp
Self-Employment Tax	All net income is taxed	Only salary is taxed; distributions are not
Payroll Requirement	Not required	Must run payroll and file payroll tax
Admin Complexity	Simple	More setup + ongoing maintenance
Best Fit For	Starting or lower-earning doctors	Doctors with $100K+ net income

Entity setup should always be tailored to your income level, risk exposure, and long-term plans.

Questions We Hear From Cardiologists

Should I structure my cardiology income under an LLC or S-Corp?

That depends on your net income. Many cardiologists over $100K may benefit from an S-Corp to reduce self-employment tax. We’ll help you evaluate and set it up.

What can I deduct from my income?

CME, licensing, malpractice insurance, EKG equipment, travel, and office supplies are all commonly deductible. We help ensure nothing is missed.

I work across multiple hospitals and states—how does that affect my taxes?

You may need to file in more than one state. We handle state compliance and ensure accurate quarterly and year-end reporting.

Do I need to make estimated payments?

Yes. If you expect to owe $1,000 or more in federal tax, the IRS requires quarterly payments. We calculate and schedule these for you.

Insights for Cardiologists and High-Earning Doctors

July 8, 2025

2025 Tax Update: What 1099 Healthcare Workers Should Know About H.R. 1 (The Big Beautiful Bill)

The new federal tax law, H.R. 1 (“The One Big Beautiful Bill”), introduces key changes for 1099 healthcare professionals like travel nurses and therapists. QBI Deduction Made Permanent: The 20% pass-through deduction for qualified business income remains in place, encouraging review of business structure (LLC, S-Corp, etc.). SALT Deduction Cap...

GIAN GORDON-WHYTE

April 9, 2025

The S-Corp Election Guide for 1099 Doctors & Locum Tenens Professionals

This guide explains how 1099 doctors and locum tenens professionals can benefit from S-Corp election to reduce self-employment taxes while maintaining pass-through taxation. It covers eligibility requirements, the election process (Form 2553), payroll obligations, and tax filing responsibilities. The IRS requires S-Corp owners to take a reasonable salary, and compliance...

GIAN GORDON-WHYTE

March 31, 2025

1099 Doctor? Here’s How to Set Up Your Business the Right Way

For 1099 doctors and locum tenens professionals, choosing the right business structure isn’t just a formality—it directly impacts your taxes, liability, and long-term financial health. Understanding the differences between a sole proprietorship, LLC, and S-Corp can help independent medical professionals reduce their tax burden while staying compliant. This guide will...

GIAN GORDON-WHYTE

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More insights for cardiologists and high earning doctors

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Let’s Simplify Your Tax Life—Without Sacrificing Earnings

From filing and entity setup to year-round strategy, we help cardiologists take control of their finances and avoid tax season stress.

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