Kenny Kim, MD, MS Tax, EA

Kenny Kim, MD, MS Tax, EA Tax Strategist for Physicians | Helping Doctors Pay Less Tax | Linktr.ee/drtaxtor

07/20/2026

Waikiki poke on the beach — and the IRS helped pay for it. 🌺🍣 But only because the protocol was followed correctly.

CME travel is deductible — but the primary purpose must be business, not vacation. Do it right and round-trip airfare, hotel, registration, meals at 50%, and transportation are all on the table.

Document it like a chart note: dates, location, business purpose, sessions attended, receipts. And know your situation — W-2 only physicians generally can't deduct unreimbursed CME travel federally. But with 1099 income or an accountable plan, qualifying CME travel can be fully deductible. 💊

The poke can be on the IRS. Just follow the protocol.

🩺 Doctor, dentist, or healthcare professional ready to maximize every deduction? Grab your free consultation today.
🔗 linktr.ee/drtaxtor

07/17/2026

If you invest in real estate, there's a tax provision working in your favor that most physicians have never heard of.
It's called Section 1231 — and it gives you asymmetric tax treatment. Think of it like a drug with the therapeutic benefit and no side effect profile 👇
✅ Sell at a gain → lower capital gains rates (0%, 15%, 20%)
✅ Sell at a loss → ordinary loss that can offset W-2 or practice income
⚠️ Watch depreciation recapture — that portion can be taxed up to 25%
⚠️ And the nonrecaptured 1231 loss rule can pull recent gains back into ordinary income
Gains go out at capital gains rates. Losses come in as ordinary losses. You win either way — when it's done correctly.
Want to work with me? Book a free consultation → linktr.ee/drtaxtor
🔔 Follow for daily physician tax education.

07/16/2026

Filing a Form 1041 as a trustee? Subchapter J is brutal — don't hand it to a generalist CPA. 🩺
Three questions to vet anyone before you hire: fiduciary accounting, DNI, and the distribution deduction.
Book a free consult → linktr.ee/drtaxtor

07/15/2026

Scaling to multiple locations through one entity? That can be the most expensive way to scale.
The fix is the MSO model — two entities by design:
🏥 Clinical entity → physician-owned, medical services
🏢 Management entity (LLC) → admin, billing, real estate, ops
What it unlocks:
✅ Non-physician owners — including private equity (huge for a future exit)
✅ Risk segregation
✅ Cleaner economics via a documented, arm's-length management fee
⚠️ Not DIY. Build it with a healthcare attorney + tax pro who've done MSO structures before.
Build the org chart before you need it — not after.
Want to work with me? Book a free consultation → linktr.ee/drtaxtor
🔔 Follow for daily physician tax education.

07/15/2026

I created a revocable living trust years ago. My problem? I haven't reviewed it since the day I signed it. And most people are exactly the same — sign it, lock it away, forget about it.
But an outdated estate plan can be worse than no plan at all. Here are the 6 triggers that mean it's time to update yours 👇
1️⃣ Marriage or divorce
2️⃣ Birth of a child or grandchild
3️⃣ Death of a spouse — the portability election has a 9-month deadline and is NOT automatic. Miss it and your family can lose millions in exemption.
4️⃣ Major income event — practice sale, investment windfall
5️⃣ Relocation to a new state
6️⃣ Major shift in family structure or business ownership
Think of it like a POLST — you update it when conditions change, not after a crisis.
Your estate plan needs checkups too.
Want to work with me? Book a free consultation → linktr.ee/drtaxtor
🔔 Follow and share this with a physician who needs it.

07/13/2026

Plumbers and electricians get a 20% business deduction. Most physicians? It phases out before they can touch it. 🚨💊

The QBI deduction gives qualifying business owners up to 20% off their qualified business income — but medicine and dentistry are specified service trades. That means once your taxable income gets too high, the deduction disappears fast.

For 2026: single filers phase out in the mid-$200Ks. Joint filers in the mid-$500Ks.

The fix? Lower your taxable income into the qualifying window — cash balance plan, maxed 401k, smart charitable giving. A single physician dropping taxable income from $300K to $200K could unlock a $40,000 deduction. Every year. Permanently.

🩺 Doctor, dentist, or healthcare professional ready to find your window? Grab your free consultation today.
🔗 linktr.ee/drtaxtor

07/10/2026

My wife is a stay-at-home mom with no earned income. I used to think that meant she couldn't have an IRA. I was wrong.
It's called the spousal IRA — and a lot of physician couples miss it 👇
✅ File jointly + earned income that covers both contributions
✅ Non-working spouse funds their own IRA — up to $7,500 in 2026
✅ Too high-income for a direct Roth? Both spouses can do the backdoor Roth
⚠️ Watch the pro-rata rule if either spouse has pre-tax IRA money
The math: $15,000/year — $7,500 each — at 8% over 20 years is roughly $750,000, potentially tax-free in retirement.
Most couples build half that. Not because they can't — because they never knew.
Two IRAs are better than one. Take care of your spouse too.
Want to work with me? Book a free consultation → linktr.ee/drtaxtor
🔔 Follow for daily physician tax education.

07/06/2026

Reimbursing yourself for business expenses without a written accountable plan? In an audit — every one of those reimbursements becomes taxable wages. 🚨💊

The fix is simple: your practice reimburses real business expenses, you submit receipts with a business purpose within 60 days, return any excess within 120 days. That's it.

Done right, a physician reimbursing $2,000/month in legitimate expenses — cell phone, home office, mileage, travel — saves nearly $9,000 per year in taxes. Tax-free. Every year.

Most practice owners are leaving this on the table — not because the expenses don't qualify — but because the plan was never written down.

🩺 Doctor, dentist, or healthcare professional ready to stop overpaying the IRS? Grab your free consultation today.
🔗 linktr.ee/drtaxtor

Doctors, hear me out.The Trump Account is finally here. The typical pitch — "free money from the government" — sounds gr...
07/06/2026

Doctors, hear me out.

The Trump Account is finally here. The typical pitch — "free money from the government" — sounds great. But I'm not opening one for my kids. Here's why.

The new Trump Account (yes, that's really what it's called) can put $1,000 of federal money into your child's investment account… but only if they're born in a specific window.

There's also an employer benefit almost no physician has heard of — up to $2,500 a year — hiding in the fine print.

But here's the twist: even as a tax pro, I'm passing on it for my own family right now. And the reason comes down to one thing most people overlook.

In the full article, I break down:
✅ What a Trump Account actually is (hint: traditional IRA meets custodial account)
✅ Who qualifies for the $1,000 — and who doesn't
✅ The employer perk with a catch
✅ The little-known Roth conversion move that could mean decades of tax-free growth
✅ Why I'd still argue hard for opening one… if your child qualifies
Politics aside, every parent should understand the rules before everyone else does. That's where the real tax savings live.
👉 Read the full breakdown below

06/30/2026

"Tips are tax-free now." Sounds amazing — until you realize physicians don't qualify. We get screwed again. 🚨💊

Under IRC §224, certain workers can deduct up to $25,000 in tip income from 2025 through 2028. But here's the fine print: tips must come from occupations that customarily received tips before December 31, 2024. Servers. Bartenders. Hair stylists. Delivery drivers.

Not physicians. We don't receive tips.

And even if we somehow qualified — Social Security and Medicare taxes still apply to every tip dollar. Plus the deduction phases out at physician income levels anyway. That's 0 for 3.

Knowing what DOESN'T apply to you is just as important as knowing what does. That's the real tax education most physicians never get.

🩺 Doctor, dentist, or healthcare professional wanting to know what actually applies to you? Grab your free consultation today.
🔗 linktr.ee/drtaxtor

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