Accounting for Cardiologists

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

Accountant for Cardiologists

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.

What We Help Cardiologists Do

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1099 Tax Filing & Estimated Payments

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

LLC, S-Corp icon

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

Expenses and deductions

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

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

Maximizing Deductions & Avoiding Common Tax Mistakes for 1099 Doctors

Maximizing Deductions & Avoiding Common Tax Mistakes for 1099 Doctors

This guide helps 1099 doctors and locum tenens professionals lower their tax burden by using key deductions like home office expenses, insurance, CME fees, retirement contributions, and business costs. It also highlights common mistakes such as poor expense tracking, missing quarterly tax payments, and not taking advantage of S-Corp benefits....
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Benefits of Filing as a Business Entity for 1099 Healthcare Professionals

Benefits of Filing as a Business Entity for 1099 Healthcare Professionals

The rise of 1099 classifications for healthcare professionals, such as anesthesiologists, marks a significant shift in the industry. Many of these professionals, previously accustomed to W-2 employment, face new financial responsibilities and challenges under this classification. However, these changes can also present valuable opportunities to improve their financial outcomes. This...
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Suddenly 1099

Suddenly 1099?

This blog guides healthcare professionals like CRNAs, anesthesiologists, nurse practitioners, telehealth doctors, and physician assistants who may unexpectedly find themselves transitioning from traditional employment to 1099 independent contractor status. It covers the differences between employees and independent contractors, the reasons for the growing trend in healthcare, the financial and administrative...
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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.