When should I elect S-corp status?

Once locum or independent contractor income reliably clears roughly $80,000 to $100,000 net, the payroll tax savings from a reasonable-salary-plus-distribution split usually justify the added compliance cost.

Does PSLF affect tax planning?

Yes. Pre-tax retirement contributions and HSA deposits lower adjusted gross income, which lowers income-driven repayment, which raises forgiveness. A CPA who knows PSLF will coordinate this with the loan servicer's calculations.

Are CME and malpractice premiums deductible?

Generally yes for 1099 income on Schedule C or through your S-corp. W-2 physicians lost the miscellaneous itemized deduction in 2018 and cannot deduct unreimbursed employee expenses federally.

CPA for Physicians: Practice, 1099, and W-2 Tax Planning

Physicians get the most from a CPA who understands W-2 plus 1099 hybrid income, S-corp elections for locum work, defined benefit plans, the practice entity layer, and PSLF interactions. Returns commonly run $1,200 to $3,500 once an S-corp is in play, and monthly retainers for a practice usually fall between $400 and $1,500.

Most physicians overpay tax for one of three reasons: 1099 income reported on Schedule C instead of through an S-corp, retirement plan capacity unused, or a practice entity structure that pulls profit out as W-2 rather than distributions. A CPA who works with physicians will model the S-corp breakeven, set up a solo 401(k) or defined benefit plan sized to actual income, and coordinate practice-level decisions with personal tax. The right fit asks about your specialty, payor mix, and student debt strategy before quoting a fee.

What's typically involved

We're expanding this page with the full playbook for physicians: elections to make, common mistakes generalists miss, fee expectations, and the specific credentials to look for. In the meantime, the matching form below routes your situation to a CPA whose practice fits.

What CPA work looks like at the fee level

Service	Typical 2026 range
CPA hourly rate	$150 to $450 / hour
Schedule C (sole proprietor)	$190 to $800
Single-member LLC return	$300 to $1,500
S-corporation return (1120-S)	$1,200 to $3,500
Partnership return (1065)	$1,000 to $5,000+
C-corporation return (1120)	$1,500 to $4,000+

Disorganized records ("shoebox" engagements) typically increase fees by 1.5x to 2.0x.
Each additional K-1 partner usually adds roughly $300 to $500.
Ranges reflect entity type, bookkeeping state, and complexity. Quotes vary by region and CPA experience.

Full table with methodology lives in the 2026 CPA Compass Fee Benchmark.

Get matched with a CPA for physicians

Tell us your situation. We connect you with a CPA whose practice fits.

TaxProMatch is an independent matching resource. We are not a CPA firm and do not provide tax, legal, or financial advice.

Frequently asked questions

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CPA for Physicians and Medical Practices