Tax Savings for Physicians

Physician's Money Digest, August15 2003, Volume 10, Issue 15

According to the June 2003 issue of "The Blair/McGill Advisory" (www.bmhgroup.com), the following federal income tax savings from the 2003 tax act are based on a married doctor with taxable income (after all deductions and exemptions have been subtracted):

Note:

The tax savings shown don't factor in any benefit from the child tax credit, lower tax rates on capital gain and dividend income, or any tax benefit from the increased expensing election and bonus depreciation provisions.