The Locum Tenens CPA Firm for Physicians

Switching from W2 to 1099

Transition Analysis for Physicians

Expert Advice for Locum Tenens 1099 vs W2

Transitioning from W2 employment to 1099 locum tenens work brings significant financial changes. At The Doctor’s CPA, we provide expert guidance tailored to physicians, helping you navigate the financial implications of this vital transition with clarity and confidence.

Switching from W2 to 1099 status can be overwhelming. Understanding new tax obligations, managing benefits independently, and assessing the overall financial effect are all critical aspects of the transition. Our service includes a detailed comparison of your current W2 situation with potential 1099 opportunities, covering financial projections, tax implications, and a thorough benefits analysis.

Understanding 1099 vs W2 Tax Implications

As a 1099 contractor, you’ll face new tax responsibilities, such as self-employment taxes and additional deductions. Without careful planning, these changes can result in unexpected liabilities. We provide a clear breakdown of your tax obligations, including estimates of self-employment taxes and deductions you can claim as a 1099 worker. Our strategic tax planning helps you minimize your tax burden and avoid costly surprises. Learn more about Tax Planning.

Managing Benefits Independently

Managing your benefits is one of the most significant shifts moving from W2 to 1099. As a W2 employee, your employer likely handles your health insurance, retirement contributions, and other perks. As a 1099 contractor, securing these benefits alone can be difficult and expensive. We compare your current W2 benefits with what you’ll need as a 1099 worker, helping you understand costs and find the best options.

Explore Physician Retirement and Benefits Planning.

Evaluating 1099 Offers

If you’re considering a 1099 offer, assessing how it compares to your current W2 compensation and benefits can be challenging. We comprehensively summarize your 1099 offer and compare it with your W2 situation. Our analysis includes financial projections and a detailed assessment of offer terms, helping you decide whether to accept or negotiate. 

Learn more about our Financial Statement Analysis services.

Making an Informed Decision

Deciding whether to transition to from W2 to 1099 locum tenens work requires careful consideration of multiple factors, including tax implications, benefits management, and long-term financial outcomes. Our personalized recommendations are based on a comprehensive financial analysis, ensuring you have the insights needed to make the best decision for your career and financial goals. 

Contact us today for a personalized transition analysis and make the most informed decision for your financial future.

Ready to Optimize Your Financial Health?

Let’s take the first step together. Contact The Doctor’s CPA today and discover how we can help you maximize your locum earnings and secure your financial future.

Core Locum CPA Services

Physician Bookkeeping

Locum 1099 bookkeeping services for physicians, doctors, nurses & more.

Financial Statements

Clear bookkeeping records for a comprehensive financial health overview.

Salary and Family Payroll

Physician family member payroll and benefits management.

Tax Filing for Providers

Proactive tax planning strategies for locum 1099 physicians.

Profit Maximization Meetings

Personalized strategies to manage expenses & optimize taxes.

Estimated Tax Payments

Accurate calculations, regular tax planning & deadline tracking.