Stephen Lee, CPA, CPWA®
Stephen Lee, a Certified Public Accountant and Certified Private Wealth Advisor, shares strategies for high earners, business owners, and professionals to minimize taxes, optimize S-Corps, invest smarter, and manage 1099 income. The podcast provides actionable advice based on real client experience to help listeners keep more of what they make and build lasting wealth.
Episodes
1099 Physician Tax Deductions: What You Can Actually Write Off
If you're a 1099 physician earning $500,000 or more, you've probably heard plenty of aggressive advice about tax write-offs: write off your car, your house, every meal, or just put it on the business credit card.But being 1099 doesn't make everything deductible.In this episode of The Locum CPA, Stephen Lee, CPA and Certified Private Wealth Advisor, breaks down the most important deduct
Locums in Multiple States: The Tax Trap Every 1099 Physician Should Know
If you're a 1099 or locum tenens physician working in more than one state, your home state's tax rules may not be the whole story.In this episode, CPA and Certified Private Wealth Advisor Stephen Lee explains one of the most overlooked tax issues facing locums physicians: multi-state taxation. You'll learn why living in a no-income-tax state doesn't necessarily make your locums inc
Earning W-2 + 1099 Income? 5 Tax Rules Most Physicians Get Wrong
W-2 income doesn't exist in a vacuum, and neither does your 1099 income. If you're a physician earning both, your tax strategy is more connected than many people realize.In this episode, Stephen Lee, CPA, explains five tax rules that physicians with both W-2 and 1099 income frequently get wrong. Learn how your hospital salary can affect self-employment tax, why an S corporation isn't a
How Much Should a 1099 Physician Save for Taxes? | The 30–45% Tax Reserve Rule
If you're a 1099 physician, one of the biggest financial mistakes you can make is treating every dollar that hits your bank account as money you can spend. Unlike W-2 employees, no one is withholding taxes for you, which means a surprise tax bill can quickly turn a great income into financial stress.In this episode, CPA and Certified Private Wealth Advisor Stephen Lee explains a practical tax
Should You Elect S-Corp at $150K, $300K, or $500K of 1099 Income?
Is an S corporation the right tax strategy for your 1099 physician income? The answer isn't based on gross income alone—it depends on your net profit, reasonable compensation, and whether the tax savings outweigh the added costs and compliance.In this episode, CPA and Certified Private Wealth Advisor Stephen Lee breaks down a practical framework for evaluating an S corp election at three common in
First Year as a 1099 Physician? Do These 7 Things Before Tax Time
If this is your first year as a 1099 physician, tax season can feel completely different. No automatic withholding, no employer payroll department, no simple W-2 return, and no clear roadmap for taxes, retirement planning, quarterly payments, or entity structure decisions.In this episode, CPA and Certified Private Wealth Advisor Stephen Lee walks through the 7 essential steps every first-year 1099
The Complete 1099 Physician Tax System: 6 Moves to Stop Guessing and Start Planning
Are you a 1099 physician relying on random tax tips like forming an LLC, electing an S Corp, opening a SEP IRA, or saving 30% for taxes? In this episode, CPA and Certified Private Wealth Advisor Stephen Lee breaks down the complete 1099 physician tax system—a six-part framework designed to help independent physicians stop guessing and start planning.You'll learn how to build a coordinated stra
1099 Physicians: How to Put Away $100K+ Tax-Advantaged
Most 1099 physicians are told the same basic retirement advice: open a SEP IRA, max out a Solo 401(k), and track your deductions. While that's a good start, high-income physicians earning $400,000, $800,000, or more may be missing significantly larger opportunities.In this episode, Stephen Lee, CPA and Certified Private Wealth Advisor, breaks down how some 1099 physicians may be able to contri
How One 1099 Physician Saved $42,000 in Taxes (Step-by-Step Breakdown)
A 1099 physician saved $42,000 in taxes, without buying a luxury SUV, creating questionable write-offs, or using aggressive tax loopholes.In this episode, CPA and Certified Wealth Advisor Stephen Lee breaks down a real-world case study of a physician earning approximately $575,000 as a 1099 contractor and the step-by-step strategy that helped create significant tax savings while staying compliant.
How 1099 Physicians Should Actually Calculate Quarterly Taxes — Step-by-Step
Most 1099 physicians are calculating quarterly taxes the wrong way, and it can lead to penalties, cash flow problems, and massive surprises at tax time.In this episode, CPA and Certified Private Wealth Advisor Stephen Lee breaks down how high-income 1099 physicians should actually calculate quarterly estimated taxes. You'll learn the difference between safe harbor payments and true tax project
1099 Physicians_ When an S-Corp Actually Saves You $30K+ (And When It Doesn’t)
If you're a 1099 physician wondering whether an S corp can actually save you serious money or if it's just overhyped tax advice, this episode is for you.In this episode, Stephen Lee, CPA and Certified Private Wealth Advisor, breaks down the real S corp conversation for high-income independent physicians. You’ll learn when an S corp can potentially save $30K+ per year in taxes, when the sav
Stop Doing This With Your 1099 Income (What High-Earning Doctors Get Wrong)
5 Costly Money Mistakes 1099 Physicians Make (And How to Fix Them)In this episode, I explain why many high-earning 1099 physicians still feel financially stressed—not because they don’t make enough, but because they haven’t built the business systems needed to manage taxes, cash flow, and bookkeeping. Payment workflow made smarter by Melio - https://affiliates.meliopayments.com/...The exact framew
Tax Strategies That Save 1099 Physicians $50,000+ Per Year
1099 Physician Tax Strategy: Stop Overpaying the IRS (QBI, Retirement Plans, S-Corp)Special Xero offer: Get 90% off for 6 months using this link - https://referrals.xero.com/StephenLee...Terms & Conditions apply.*The exact framework I walk through with new clients and how to structure your entity, what to track, which retirement accounts to use, and how to stop leaving money on the table. Free
You Filed Your Taxes. Now What? (10 Moves to Make Immediately)
10 Things to Do After Filing Your Taxes (Avoid Penalties & Keep More Money)CPA and certified private wealth advisor Stephen Lee explains that filing taxes is only the starting point and outlines 10 actions to take after filing to avoid penalties and optimize next year’s taxes: track your refund using the IRS “Where’s My Refund” tool, review your return for errors and save all supporting docume
STOP OVERPAYING TAXES
Common Tax Mistakes That Make Business Owners Overpay (And How to Fix Them)Special Xero offer: Get 90% off for 6 months using this link - https://referrals.xero.com/StephenLee...Terms & Conditions apply.*CPA Stephen Lee explains that many business owners legally overpay taxes by missing strategies allowed by the tax code, then walks through 15 common issues and how to fix them. He covers faili
The IRS "Target" on W-2 Employees (New 2026 Audit Triggers)
IRS Upgrade: Top Audit Triggers for W‑2 Employees (and How to Avoid Them Legally)CPA Stephen Lee explains that the IRS has upgraded its systems to flag common W‑2 return mistakes and outlines key triggers for manual review, especially for employees with side hustles, crypto activity, or home office claims. Major red flags include underreporting income that doesn’t match W‑2/1099/brokerage data, la
How to Calculate Your Quarterly Estimated Taxes (Without Over Paying or Penalties)
Most people think taxes are something you deal with once a year in April, but business owners, freelancers, and investors need to pay taxes four times per year. This video explains how to calculate and pay your quarterly estimated taxes, including using IRS Direct Pay. Learn how to avoid tax penalties by understanding your estimated taxes and ensuring you meet your obligations. 🔔 Subscribe for mor
1.3 Million Americans About to Lose Their Tax Refunds | Weekly FAQ
🚨 $1.2 BILLION in Unclaimed IRS Refunds — Don’t Miss the April 15 Deadline 🚨Over 1.3 million Americans still haven’t filed their 2022 tax returns — and the IRS is holding $1.2 BILLION in unclaimed refunds.If you don’t act by April 15, 2026, your refund becomes property of the U.S. Treasury… permanently.In this video, I break down:✔️ Who is at risk of losing their refund✔️ How much money you could
Watch This Before Filing for an Extension
How to File a Tax Extension for Form 1040 (2026 Deadlines + 3 Easy Methods)CPA Stephen Lee explains how to request an automatic six-month tax extension for a Form 1040 using IRS Form 4868 for the 2026 tax season, covering key deadlines and common mistakes that can trigger IRS penalties. He emphasizes that an extension gives more time to file—not more time to pay—and that unpaid taxes after April 1
IRS Cracking Down on Self-Employment Income (Avoid These Mistakes!)
Side Hustle Taxes: 5 Mistakes That Trigger IRS Notices (and How to Avoid Them)CPA Stephen Lee explains why the IRS is paying closer attention to side hustle (self employment) and gig income as platforms and clients send 1099 forms that are automatically matched to tax returns, with mismatches triggering notices like CP2000. He defines side hustle income as any earnings outside a W-2 job (including
These Viral Tax Hacks Are Getting People Audited (2026)
IRS Dirty Dozen 2026: Tax Scams That Can Trigger Audits, Penalties, or Criminal ChargesCPA Stephen Lee explains the IRS “Dirty Dozen” for 2026 as an enforcement roadmap targeting a surge in fabricated tax claims (fake credits, withholding, and capital gains reporting) and warns business owners, investors, and high earners to avoid online “tax hacks” that can lead to audits, penalties, or criminal
The IRS Early Filing Trap (Why Experts Say Wait Before Filing)
2026 IRS Refund Calendar: How Long Your Tax Refund Takes (Fastest Way to Get Paid)Stephen Lee, a CPA and certified private wealth advisor, explains why filing taxes too early—before all tax documents arrive—can delay refunds, then walks through the 2026 IRS refund calendar and what determines refund timing. The 2026 filing season began January 26, and most refunds start going out in mid-February.
The Standard Deduction Mistake Costing You Thousands on Gold Sales
Donating Gold Coins to a DAF, Precious Metals Tax Rates, and the SALT Deduction ExplainedThis video addresses common tax confusions, specifically concerning physical gold donations, capital gains on precious metals, and self-deduction eligibility for married couples. We're clearing up these complex topics to prevent costly mistakes and provide effective tax planning. Learn practical tax tips t
IRS Tax Penalties Explained by a CPA
Stephen Lee CPA explains the significant 2026 minimum late-filing penalties from the IRS, which can quietly add thousands in penalties even without fraud or audit. We'll cover the potential costs for individuals and partnerships, emphasizing the importance of timely tax filing to avoid these issues. Learn about available tax relief options, including reasonable cause and first-time abatement,
How to Mail Your Tax Return Safely in 2026: Avoid IRS Pitfalls!
Avoid the USPS Postmark Trap: How to Prove Your Tax Return Was Filed On TimeCPA Stephen Lee explains the “USPS postmark trap” that can make a tax return mailed on April 15 (or March 15) appear late if the postmark is dated after the deadline due to processing delays at regional facilities. Because the IRS system relies on the postmark date, a late postmark can trigger failure-to-file and failure-t
IRS Questions Everyone Is Afraid to Ask (Answered by a CPA)
#IRS red flags #Can IRS see your bank account#IRS audit explained #Business losses IRS rulesIRS FAQ: Business Losses, Declining Income, Bank Accounts, TOD Deeds & Deduction RulesStephen Lee CPA answers common taxpayer questions: how the IRS treats multi-year business losses after COVID, explaining net operating losses (NOLs) can generally be carried forward indefinitely to offset up to 80% of
Tax Extensions Explained: Why High Earners Don’t File in April
Why High Earners File Tax Extensions (And How It Can Save You Money)CPA and certified private wealth advisor Stephen Lee explains why many wealthy taxpayers strategically file tax extensions, emphasizing that an extension extends time to file—not time to pay. He outlines 2026 filing deadlines and forms (individual Form 4868 for April 15 to October 15; S corps/partnerships Form 7004 for March 15 to
IRS Rule Update: What Homeowners Need to Know Now
Most retirees have no idea how powerful the IRS home tax rules can be. In this video, Stephen Lee, CPA and Certified Private Wealth Advisor, breaks down four major tax strategies that could significantly reduce taxes in retirement. We cover the Section 121 home sale exclusion that allows up to $500,000 of tax-free profit, medical expense deductions for aging in place, the real tax treatment of rev
The SALT Deduction Loophole High Earners Are Missing and IRS Cracking Down on Gambling Winnings
The $300 Gambling Trap + The New $40,000 SALT Cap (Most People Are Getting This Wrong)Stephen Lee, CPA and certified private wealth advisor, explains how small tax reporting mistakes can trigger IRS issues, focusing on gambling income reporting and the new 2025 $40,000 SALT cap for single filers. He answers whether a $300 sports bet payout should be reported as $300 or $200, clarifying that casual
Red Flags The IRS is Looking | What you NEED to Know before filing
8 IRS Audit Red Flags for 2026 And How to Reduce Your Audit Risk LegallyCPA and certified private wealth advisor Stephen Lee explains that IRS audits are driven by scoring systems that flag tax returns that look statistically unusual for a given income level or industry. He outlines eight audit red flags for the 2026 filing season: lifestyle spending that doesn’t match reported income; aggressive
Why HSAs Are One of the Best Retirement Tools in 2026
In 2026, health savings accounts have become a powerful retirement tool with record-high contribution limits. This video explains the "Shoebox Strategy" for maximizing your HSA, focusing on how to use it effectively for healthcare in retirement. We'll cover the significant hsa tax benefits and overall hsa benefits, showing how this hsa strategy can lead to greater tax efficiency for
The Truth About 2026 Tax Refunds and Withholding
Why Your 2026 Tax Refund Is Smaller: 5 OB3 Law Changes ExplainedCPA Stephen Lee explains why 2026 tax refunds may be smaller even if you didn’t pay more in taxes, citing five updates tied to the “One Big Beautiful Bill (OB3)” passed in mid-2025. He covers updated IRS withholding tables that spread tax cuts across paychecks, a new 0.5% AGI floor on charitable deductions for itemizers, the expiratio
How the New Car Loan Interest Deduction Works in 2026
New 2026 Car Loan Interest Deduction Explained | Save on Your Taxes!In this video, CPA and certified private wealth advisor Stephen Lee covers the newly introduced Qualified Passenger Vehicle Loan Interest Deduction effective for the 2026 tax season. This deduction allows some taxpayers to write off up to $10,000 in car loan interest without itemizing, provided that specific conditions are met. St
Gold & Silver Taxes Explained: What You MUST Report to the IRS!
If you own gold or silver, one of the biggest and most expensive mistakes investors make is not understanding how those gains are taxed. Precious metals follow a very different set of tax rules than stocks or real estate, and getting this wrong can cost you tens of thousands of dollars.In this video, Stephen Lee, CPA and Certified Private Wealth Advisor, explains how gold and silver are taxed, wha
SALT Deduction Is Back: What the New $40,000 Cap Means For Taxpayers
The SALT deduction is back and for some taxpayers, this single change could unlock up to $40,000 in tax deductions for the 2025 tax year.For the first time in years, the state and local tax (SALT) deduction cap has been significantly expanded, but qualifying for it is not automatic. If you are a homeowner, live in a high-tax state, or itemize deductions, this update could materially lower your tax
$2,200 Child Tax Credit: Rules, Income Limits, and Refunds
If you're raising a family, the new $2,200 child tax credit could put real money back into your household, but only if you understand how it actually works. This video explains the 2026 child tax credit, detailing who qualifies, how much can be claimed, and the income thresholds for married and single filers. Learn essential personal finance and money management strategies to maximize your tax
IRS Releases NEW 2026 Tax Rules | What Every Tax Payer Needs to Know
The IRS quietly changed the rules for the 2026 tax filing season, and most taxpayers are at risk of overpaying if they file the same way they always have. In this video, CPA and Certified Private Wealth Advisor Stephen Lee breaks down the most important 2026 tax law changes you need to understand before filing your 2025 tax return.You’ll learn how the new 2026 tax brackets work, where hidden dange
Ultimate 2026 Tax Prep Checklist | Don't Forget These Forms
As a CPA, I've seen that the biggest income tax filing problems often stem from missing information, not math errors. This video, presented by CPA Stephen Lee, provides a definitive 2026 tax preparation checklist to help you avoid common pitfalls. Learn about crucial tax deadlines, organizing your tax forms and documents, and essential tax tips to ensure a smooth tax season. 00:00 Introduction
No Tax on Overtime and Tips (How to Claim Your 2025 Refund)
If you earned significant overtime pay or tips in 2025, you might be due a tax refund most people don't even know about. This video explains how parts of your income are now tax free from federal taxes, and how to claim it back when you file. Learn how to calculate your deductions and discover tax savings tips to ensure you get the money you deserve.00:00 Introduction: Are You Owed a Tax Refun
Working and Receiving Social Security (2026 Rules That Could Cost You Money)
Social Security changes are coming in 2026, and most people won’t realize how much they matter until they’ve already lost money.This is not a routine adjustment year. The 2026 Social Security changes affect your monthly benefits, your taxes, Medicare Part B premiums, and whether working in retirement helps or hurts you financially.In this video, Stephen Lee, CPA and Certified Private Wealth Adviso
How to File 1099 Tax Form Electronically | CPA Walkthrough
Use Discount code SLCPA15 for a 15% discount - https://get.tax1099.com/ygtwcpua6iqdPLEASE ADVISE - The 15% discount is applicable on eFiling fees and not on services like USPS.This video clarifies who needs to file a "Form 1099" for the 2025 tax year, especially for "independent contractor" payments. Our CPA guides you through e-filing a "1099 NEC" quickly and accurat
IRS Guidelines & Gifting Money in 2026
How much money can you give someone without triggering gift taxes or IRS issues? If you’re planning to help family or friends in 2026, understanding the IRS gift tax rules is essential before you move any money.In this video, CPA and Certified Private Wealth Advisor Stephen Lee explains exactly how the gift tax works, who actually pays the tax, and how much you can give without filing paperwork or
How the New Tax Law Will Actually Affect Your Tax Bill | Seniors & Retirees
The IRS just handed retirees a massive tax bill for 2026 and most people have no idea it’s coming.Many Americans assume taxes go down in retirement, but with the new 2026 tax brackets, the senior bonus deduction, Medicare IRMAA cliffs, and updated Social Security taxation rules, that assumption can cost you tens of thousands of dollars in stealth taxes.In this video, CPA and Certified Private Weal
How to Build Wealth in 90 Days (Without Extreme Budgeting)
Are you making good money but still living paycheck to paycheck? You’re not alone. Over 70% of Americans earning $75,000 or more struggle financially not because they don’t earn enough but because they lack the right systems.In this video, CPA and Certified Private Wealth Advisor Stephen Lee breaks down the 90-Day Money Blueprint—a proven, step-by-step system designed to help you take control of y
Financial Literacy In 20 Minutes | Follow This Wealth System
On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves backed by real client experience.Subscribe for smart, actionable advice a
10 Year End Tax Moves to Save Thousands Before 2026 | LLC, Business Owners, High Income
Maximize Your 2025 Tax Savings: Year-End Moves for Business Owners and High Earners. Join CPA and Certified Private Wealth Advisor Stephen Lee as he breaks down essential IRS-approved tax strategies for business owners and high-income professionals to undertake before December 31st. Learn how to prepay expenses, delay invoicing, upgrade equipment, maximize retirement contributions, leverage bonus
Accountant Explains: How to Become a Millionaire on a 9-5 Salary
Many believe a W-2 job limits wealth, but your paycheck is a powerful tool for financial freedom. I'm Stephen Lee, a CPA, and I've seen professionals like teachers and engineers achieve financial freedom by investing a portion of every paycheck, leading to significant wealth. With smart money management and consistent investing, anyone can build wealth and secure their retirement.Apply for my 5-se
Massive Tax Changes in 2026 | Trumps Big Beautiful Bill - What You Need To Know
Massive Tax Changes Coming in 2026 and Trumps Big Beautiful Bill - Save Thousands with These 5 Smart Moves!The 2026 tax changes are coming fast and for many Americans, they will completely reshape how much you owe, how much you keep, and which deductions you can still claim. In this video, Stephen Lee, CPA and CPWA, breaks down the biggest 2026 tax rule changes and explains exactly how they impact
10 Biggest Tax Write Offs Small Businesses NEED to Reduce Taxes
Special thanks to Xero for sponsoring this video! Please check them out with the link - https://xero5440.partnerlinks.io/Step...Want to go deeper? Join my Business Owner Bootcamp — 5 live private sessions where I help you build your personalized tax and wealth plan step-by-step. Learn to combine accountable plans, S-Corp optimization, and advanced retirement strategies.👉 https://stephenleecpa.com/
IRS Tax Brackets + Capital Gains In 2026 | What You NEED To Know Now
Big changes are coming to your 2026 taxes and it’s not just the income tax brackets. In this video, we break down everything the IRS just announced, including the new 2026 tax brackets, capital gains updates, and standard deduction adjustments that could impact how much you owe next year.You’ll learn:✅ The exact 2026 federal income tax brackets for single and married filers✅ What’s changing with c
Make THIS a Habit Every Time You Get Paid
🔔 Subscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to
Why High Earners Still Feel Broke (and How to Fix It)
📩 Apply Business Owner Bootcamp: https://stephenleecpa.com/business-owner-bootcamp/When you understand this formula, everything changes:✅ You stop chasing higher income just to afford a higher lifestyle.✅ You start building *real financial freedom* instead of lifestyle debt.✅ You learn how to make your money work for you — not the other way around.The information provided on this channel is for ge
Stop Living Paycheck to Paycheck: Build Real Wealth on Any Income
Why do so many high-income earners still feel broke?You make good money… but where does it all go? In this video, Stephen Lee, CPA & Certified Private Wealth Advisor, breaks down why most people never build real wealth—and how you can fix it starting today.💡 Learn the 3 traps that keep professionals stuck living paycheck-to-paycheck:1️⃣ Lifestyle creep – earning more but spending more.2️⃣ Work
S-Corp Owners Are Losing Money With This Mistake!
If you’re an S-Corp owner paying yourself back for business expenses through payroll or distributions — stop right now. You could be throwing away thousands of dollars in unnecessary taxes every single year.In this video, Stephen Lee, CPA, CPWA®, breaks down one of the most powerful IRS-approved S-Corp tax strategies that 99% of business owners (and even CPAs!) don’t know about — the Accountable P
CPA Explains | 4 Easy Ways Business Owners Can Grow Retirement Money Fast
#SCorp#TaxSavings#RetirementPlanning#SmallBusinessOwner#WealthBuilding#Solo401k#SEPIra#MegaBackdoorRoth#CashBalancePlan#BusinessTaxes#TaxStrategy#FinancialFreedom#SmartMoneyMoves💰 What if you could save $50,000, $100,000, or even $200,000 in taxes this year while building massive retirement wealth? If you own an S-Corp and your income is growing, these 4 powerful retirement strategies could comple
CPA Explains | How I Saved a Client $80,000 in Taxes with This ONE IRS Formula
What if I told you the wrong S-Corp reasonable compensation could cost you over $20,000 in IRS penalties—and that one small business owner avoided an $80,000 tax bill with the right strategy? In this video, I’ll expose the IRS-approved methods to calculate your salary the right way and protect your business from audits.Too many entrepreneurs, LLC and S-Corp owners are guessing their wages using ou
How to Pay Yourself with a S-Corp in 2025 (BIG UPDATES)
Stop overpaying in taxes! In this video, I break down how to pay yourself as an S-Corporation shareholder the right way. Learn the step-by-step strategy to take a reasonable salary, maximize distributions, and save thousands in employment taxes every year. I cover common mistakes, the IRS rules you must follow, and insider tips on cash flow planning and the QBI deduction. Whether you’re new to S-C
How To Pay Your Taxes In 7 Minutes | Quarterly Estimated Taxes 2025 Update
Business owners: don’t let the IRS catch you off guard! ⏰ In this video, I show you exactly how to calculate and pay your quarterly estimated taxes for 2025—even if you’ve missed previous payments.Learn the Safe Harbor “set it and forget it” method and the Current Year “pay what you actually owe” method, step by step. I’ll also walk you through making payments online, tracking deadlines, self-empl
How the Wealthy Use S-Corps to Build Massive Wealth
Want to save $15,000+ in taxes while building real wealth? In this video, CPA Stephen Lee reveals the secret S-Corporation strategy the wealthy have used for decades to slash self-employment taxes, maximize deductions, and accelerate wealth through tax-smart retirement plans like the Solo 401k.You’ll discover:✅ How one simple S-Corp election can cut your tax bill in half✅ The powerful tax deductio
Investing for Beginners: How to Get Started (Updated for 2025)
Want to start investing but don’t know where to begin? In this beginner-friendly guide to investing in 2025, I’ll walk you through why you should invest, what to invest in, when to start, and how to build wealth over time — even if you’re starting from zero. You’ll learn the power of compound interest, why index funds like the S&P 500 are a smart first step, and the exact checklist to follow b
5 Money Habits Keeping You Poor - Personal Finance
5 Common Money Habits Keeping You from Financial Success#PersonalFinance #MoneyHabits #BuildWealth #BudgetingTips #SavingMoney #InvestingForBeginners #FinancialFreedom #CPAAdvice #DebtPayoff #MoneyManagement #RetirementPlanning #HighYieldSavings #EmergencyFund #CreditCardDebt #FinancialLiteracyIf you’ve ever wondered why you’re not building wealth as quickly as you’d like, this video is for you. A
The $7,500 EV Tax Credit Is Ending… Act FAST!
Urgent Update: $7,500 EV Tax Credit Ends Soon – Act Before September 30th, 2025The $7,500 EV tax credit is ending on September 30th, 2025. This video provides crucial information on the deadline, changes due to the recently passed 'Big Beautiful Bill,' and how it impacts buyers, whether for personal or business use. Learn about the incentives automakers are offering, the remaining home cha
How the New 2025 Bill Can Save Your Small Business Money!
Welcome to The Locum CPA YouTube channel.In this episode, we dive deep into the major tax changes introduced by the recently passed bill - One Big Beautiful Bill (OBBA) that directly impacts small business owners from 2025 onwards. We'll cover pivotal topics including the QBI deduction, the return of 100% bonus depreciation, Section 179 deductions, the SALT workaround, and the critical deadlin
Essential Trump Tax Cuts for Individuals - Big Beautiful Bill
Discover the most important Trump tax cuts for individuals in the new Big Beautiful Bill! In this video, we break down the key 2025 tax changes, including the expanded child tax credit, new standard deduction increases, and tax-free overtime income provisions. Learn how these updates could lower your federal income taxes, boost your tax refund, and help you maximize tax savings this year. Whether
2025 Tax Calendar Guide for Locum Medical Professionals - Never Miss a Deadline
Setting Up Your 2025 Tax Calendar: Essential Tips for Locum PhysiciansIn this episode of the Locum CPA podcast, Stephen Lee, a CPA specializing in locum medical professionals, guides you through setting up your tax calendar for 2025. Learn about the importance of meeting tax deadlines to avoid penalties, the quarterly estimated tax payment dates, and the different filing deadlines for various busi
Smart Tax Strategies Every Locum Doctor Must Know!
Locum Doctors: Essential Tax Strategies for Maximizing IncomeIn this episode of the Locum CPA podcast, Stephen Lee, a CPA specializing in locum tenens medical doctors, breaks down why having a tax game plan is crucial for locum doctors. Covering key topics such as mentality shifts, estimated quarterly tax payments, choosing the right entity structure, maximizing deductions, retirement investment p
How To Pay Yourself As An S-Corp In 2025
How Locum Doctors Should Pay Themselves Through an S CorporationIn this episode of the locum CPA podcast, CPA Stephen Lee provides detailed guidance on how locum doctors can pay themselves through their S corporation. The podcast covers crucial topics such as reasonable compensation, payroll, and distributions. Key concepts include why using an S corporation can lead to substantial tax savings, de
Work in multiple states? Where do I pay taxes? Multi-State Taxes Explained
Understanding State Tax Obligations for Locum Medical ProfessionalsIn this episode of the Locum CPA podcast, CPA Stephen Lee discusses the tax obligations of locum medical professionals working in multiple states. Through a real-life example involving an oral surgeon with an LLC in Illinois and work in Minnesota, Stephen breaks down essential tax concepts. He covers the responsibilities of maintai
Tax Deductions Most People FORGET About in 2024!
Overlooked Tax Deductions You Shouldn't Miss for Your 2024 Tax ReturnJoin Stephen Lee, a Chicago-based CPA specializing in locum medical professionals, in this must-watch video podcast where he discusses six often-overlooked tax deductions that can significantly impact your 2024 personal income tax return. Learn about deductions for charitable contributions, state and local taxes (SALT), mortg
2025 Quarterly Taxes: Essential Tips for Locum Medical Specialists
Mastering 2025 Quarterly Taxes for Locum Medical Professionals | Budgeting and DeductionsJoin Stephen Lee, CPA based in Chicago, for an in-depth guide on preparing for the first quarterly estimated tax payment of 2025. This video podcast covers essential budgeting tips, tax savings strategies, and key deadlines to help locum medical professionals avoid penalties and interest. Learn about different
4 Reasons Your EV Tax Credit Was DENIED and How to Fix It
Denied EV Tax Credit? Here's Why and What to Do Next!Have you recently purchased an electric vehicle and are looking to utilize the $7,500 EV tax credit? Many buyers are being denied this valuable credit. In this episode of the Locum CPA Podcast, CPA Stephen Lee explains why these denials are happening and what steps you can take to address it. Learn about the common reasons for denial, includ
Get Your Tax Refund FAST With These IRS Tools!
Track Your Tax Refund: Tips and Tools to Get Your Money Faster!In this episode of the Locum CPA Podcast, CPA Stephen Lee provides comprehensive guidance on tracking your tax refund using the IRS's 'Where's My Refund' tool. The video includes tips on how to receive your refund faster, the expected timing for refunds based on different filing methods, and common reasons for delays. S
DON'T MISS - 8 Tax Deductions Locum Medical Professionals MUST KNOW in 2024!
Top 8 Tax Deductions for Medical Professionals in 2024 | Locum CPA PodcastAre you a locum medical professional preparing for your 2024 tax return? Join Stephen Lee, a certified public accountant specializing in helping locum medical professionals, as he reveals the top eight tax deductions you can't miss. Learn how travel and lodging expenses, licensing and certification fees, malpractice insu
IRS Audit Red Flags - Critical Mistakes That Trigger IRS Audits
Top IRS Audit Triggers to Avoid: A Guide for Locum Professionals and Business OwnersAre you concerned about an IRS audit? With increased funding and hiring at the IRS, there's no better time to ensure your tax returns are compliant. In this episode of the Locum CPA Podcast, CPA Stephen Lee from Chicago, Illinois, breaks down the biggest IRS audit red flags for business owners and high-income i
Tax Filing Mistakes You Can’t Afford To Make (2025)
Avoid Common Tax Filing Mistakes: Tips for Locum Professionals and Business OwnersTax season is here and avoiding costly errors is crucial. Join Stephen Lee, a CPA specializing in locum medical professionals, as he discusses the most common tax filing mistakes and how to avoid them to ensure a smooth process for your 2024 income tax returns. Learn about the importance of choosing the right filing
Last Minute 2024 Tax Deductions - Act Now
Maximize Your Tax Savings for 2024 - Don't Miss Last Minute Tax DeductionsIn this episode of the Locum CPA Podcast, Stephen Lee, a Certified Public Accountant specializing in locum medical professionals, shares valuable last-minute tax deductions for the 2024 tax year. Learn how to save on taxes by contributing to SEP IRAs, traditional IRAs, and HSAs, even retroactively. Discover specific tips
How to Travel for FREE in 2025
Maximize Your Travel: Deductible Expenses for Locum Medical Professionals
Join Stephen Lee, a CPA based in Chicago, as he reveals critical tips for locum medical professionals on how to deduct your travel expenses legally. In this podcast, learn how to combine professional trips with personal vacations, ensuring business remains the primary purpose. Discover which expenses, like airfare, lodgin
Pay ZERO Tax On Your Retirement With This Simple Method!
Unlock Tax-Free Retirement with the Backdoor Roth IRA | Locum CPA Podcast
In this episode of the Locum CPA Podcast, Stephen Lee, a CPA based in Chicago, Illinois, explains the Backdoor Roth IRA—a powerful strategy for high-income earners, including locum medical professionals, to achieve tax-free growth on retirement investments. Stephen breaks down the straightforward steps to set up a Backdoor
ESSENTIAL 2025 S-Corp Tax Savings Checklist for ALL S-Corp Owners
Maximize Your S Corp Tax Savings as a Locum Medical Professional
In this episode of the Locum CPA Podcast, CPA Stephen Lee guides new and experienced locum medical professionals through an S Corp tax-saving strategy tailored specifically for them. With the New Year upon us, Stephen Lee emphasizes the importance of reviewing your S Corp setup to maximize tax benefits. He discusses projecting inc
The 2025 IRS Updates That Will Save Medical Professionals $30,000
Top Tax Strategies and Key IRS Updates for 2025 | Save Thousands in Taxes!
Join CPA Stephen Lee on the Locum CPA podcast as he reveals crucial IRS updates and tax-saving strategies for 2025. This episode covers increased contribution limits for retirement accounts like 401k, 403b, 457b, and SEP IRA, as well as new limits for Health Savings Accounts (HSA) and changes to the standard deduction. L
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