Welcome to The Locum CPA podcast, your go-to resource for tax strategies, financial planning, and business insights tailored specifically for locum tenens healthcare professionals.

Navigating the financial side of locum work can be overwhelming. Between multiple assignments, varying state tax filings, self-employment considerations, and retirement planning, you need guidance from someone who truly understands the unique challenges of locum tenens life. That's exactly what this show delivers, practical, no-nonsense advice from a CPA who specializes in working with locum providers.

Each episode breaks down real-world tax scenarios, money-saving strategies, and financial best practices to help you keep more of what you earn, stay compliant, and build long-term wealth, all without the jargon and confusion.

Book a one-on-one appointment:

https://thelocumcpa.com/book-appointment/?utm_source=podcast

Read the CPA's Guide to Locum Tenens:

https://thelocumcpa.com/cpas-guide-to-locum-tenens/?utm_source=podcast

New episodes drop regularly. Subscribe so you never miss one, and have a question or topic you'd like covered? Reach out, this podcast is built around what you need to know.

If you're a 1099 physician earning $350,000 or more, tax deductions are only the beginning. The real opportunity is in how your entire tax structure works together, your entity, your S-Corp salary, your retirement plan, your quarterly estimated payments, your state tax footprint, and how money actually flows through your business.

Hosted by Stephen Lee, CPA and founder of The Locum CPA, this show is built specifically for high-income self-employed and locum tenens physicians who want a proactive tax strategy, not just a tax return prepared after the year is already over.

Each episode breaks down the key pillars of a real tax plan:

• Income structure, understanding how you get paid, from one locums company or five, with or without W2 or K1 income

• Entity selection, LLC vs. S-Corp, and why your tax classification matters more than your legal structure

• S-Corp evaluation, reasonable compensation rules, payroll tax savings, and when the administrative cost is worth it

• Retirement planning, solo 401(k), advanced plans, and how your retirement strategy ties back to your entity and salary

• Tax cash flow systems, reserving for taxes, covering expenses, and making owner distributions intentional instead of guessing

• Multi-state tax, filing and planning across states where you live, work, and earn income

• Clean reimbursements, separating personal and business expenses for stronger substantiation

• Year-round planning, adjusting salary, estimated taxes, and retirement contributions as your income changes throughout the year

Because none of these decisions should be made in isolation. Your salary affects your payroll. Your payroll affects your retirement strategy. Your entity affects your administration. Your state footprint affects your liability. It all needs to work together, and that's what a tax plan actually is.

🔗 Book a complimentary discovery call with Stephen: https://thelocumcpa.com/book-appointment/?utm_source=podcast

🔗 Read the CPA's Guide to Locum Tenens: https://thelocumcpa.com/cpas-guide-to-locum-tenens/?utm_source=podcast

New episodes weekly. Subscribe so you don't miss a strategy.

If you're a 1099 physician earning $350K or more, you've probably heard advice like "just write it off" or "put the car through the business." But that's not how the tax code actually works. In this episode, CPA Stephen Lee, founder of The Locum CPA, breaks down what self-employed physicians can legitimately deduct, what usually isn't deductible, and the gray areas where physicians get into trouble.

We cover:

• Professional expenses (licensing, malpractice, CME, board certification)
• Technology and equipment — business vs. personal use
• Vehicle deductions and the commuting rules that trip people up
• Travel expenses and why your "tax home" matters for locum physicians
• Home office deductions, meals, and entertainment
• Health insurance and retirement planning strategies
• Why maximizing deductions isn't where the biggest tax planning opportunities are for high-income earners

The difference between good tax planning and aggressive tax behavior comes down to one question: Is this genuinely connected to your business? Stephen explains how to think like a business owner, not just a high earner chasing write-offs.

📅 Book a complimentary discovery call with The Locum CPA:

https://thelocumcpa.com/book-appointment/?utm_source=podcast

📘 Read The CPA's Guide to Locum Tenens:

https://thelocumcpa.com/cpas-guide-to-locum-tenens/?utm_source=podcast

If your S-Corp earns $500,000 as a 1099 physician, someone will tell you to pay yourself $80,000 and take the rest in distributions. The IRS disagrees. Your salary must be reasonable. So what should it actually be, and can you defend it in an audit?

In this episode, CPA and certified private wealth advisor Stephen Lee walks through a real-world case study of a 1099 radiologist making $500,000. He explains why percentage rules of thumb don't work for physicians, who personally generate nearly every dollar of revenue. You'll learn the five core criteria for setting a defensible salary: specialty, hours worked, scope of duties, geography, and business, and how to use W2 replacement cost as a practical benchmark instead of guessing.

Stephen also breaks down the actual math at different salary levels ($100K, $250K, and $350K), showing how each affects your distributions, payroll tax savings, and audit risk. He shares a five-step playbook for documenting your salary and warns against common mistakes like picking an arbitrary number in December or blindly copying a colleague's setup. The episode closes with the radiologist's real result, a defensible $250,000 salary backed by market data, and how reasonable compensation impacts your solo 401(k), cash balance plan, and pass-through entity tax strategy.

Resources & Links:

• 📅 Book a complimentary 15-minute discovery call with Stephen Lee: https://thelocumcpa.com/book-appointment/?utm_source=podcast
• 📗 The CPA's Guide to Locum Tenens: https://thelocumcpa.com/cpas-guide-to-locum-tenens/?utm_source=podcast

Someone told you that as a 1099 physician, you need an S-Corp — but is that actually true? In this episode, Stephen Lee, CPA and Certified Private Wealth Advisor at The Locum CPA, breaks down a real-world case study with Dr. Swanson, an anesthesiologist transitioning to full-time locums work, to reveal the exact income threshold where an S-Corp election actually starts making financial sense.

You'll learn why revenue isn't the metric that matters (net profit is), how "reasonable compensation" rules limit your payroll tax savings, the hidden costs of running an S-Corp that can wipe out your gains, and the five key questions to ask before making the switch — including how a W-2/1099 hybrid income situation changes the math entirely.

Whether you're a full-time locums physician or juggling a W-2 job with side 1099 work, this episode will help you evaluate your entity structure with real numbers instead of generic advice.

📅 Book a complimentary discovery call: https://thelocumcpa.com/book-appointment/?utm_source=podcast

📖 Read the CPA's Guide to Locum Tenens: https://thelocumcpa.com/cpas-guide-to-locum-tenens/?utm_source=podcast

If you're a physician earning 1099 income, your tax strategy involves much more than finding deductions.

In this episode, Stephen Lee, CPA and Certified Private Wealth Advisor, breaks down The 1099 Physician Tax Playbook—a six-part framework for building a coordinated tax strategy around your income, business structure, tax payments, deductions, retirement, and year-round planning.

You'll learn:

• How your level and type of 1099 income drives your tax decisions
• The difference between an LLC and an S corporation—and when an S corp may or may not make sense
• How to build a tax reserve and quarterly payment system
• Which legitimate business expenses 1099 physicians may be able to deduct
• How retirement plan design can become a major part of your tax strategy
• Why tax planning needs to happen before the end of the year—not after it
• How W-2 income, multiple states, business changes, and major life events can affect your overall strategy

The goal isn't to chase obscure tax loopholes. It's to build a system where your entity structure, payroll, retirement contributions, estimated taxes, state taxes, deductions, and wealth strategy work together.

If you're earning $350,000, $500,000, or more in 1099 income, having a coordinated strategy becomes increasingly important.

Learn more about strategic tax planning for 1099 physicians at thelocumcpa.com or apply for a complimentary 15-minute discovery call at thelocumcpa.com/book-appointment/.

You can also get the free CPA's Guide to Locum Tenens here: The CPA's Guide to Locum Tenens

Disclaimer: This podcast is for educational purposes only and does not constitute tax, legal, or financial advice. Your individual tax situation may differ.

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 deductions 1099 physicians should understand, including professional expenses, technology, home office, mileage, locums travel, business meals, health insurance, and retirement planning.

You'll also learn why business and personal expenses need to be separated, why documentation matters, and why bigger planning opportunities can matter far more than chasing small deductions.

For cleaner bookkeeping and better visibility into your business finances, check out Xero.

If you'd like help applying these strategies to your own 1099 situation, you can book an appointment with The Locum CPA.

And if you're a CPA working with locum tenens physicians, get the free CPA's Guide to Locum Tenens.

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 income tax-free, how nonresident state tax returns work, why estimated tax payments can end up in the wrong state, and how poor planning can lead to penalties, cash flow problems, and unnecessary stress at tax time.

Whether you're taking your first out-of-state locums assignment or regularly working across multiple states, understanding these rules can help you avoid costly mistakes and stay compliant.

📘 Download the FREE CPA's Guide to Locum Tenens:
https://stephenleecpa.com/cpas-guide-to-locum-tenens/?utm_source=podcast

📅 Apply for a complimentary 15-minute discovery call:
https://stephenleecpa.com/book-appointment/?utm_source=podcast

If you found this episode helpful, follow the podcast and share it with another physician working locums across state lines.