Mastering 2025 Quarterly Taxes for Locum Medical Professionals | Budgeting and Deductions

Join 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 tax responsibilities, efficient saving methods, and common deductible expenses. Get expert advice on setting reminders, using online payment systems, and possibly forming an S corporation to minimize tax liabilities. Don't miss out on maximizing your retirement contributions to further reduce taxable income.

00:00 Introduction to Quarterly Estimated Taxes

00:50 Understanding Your Tax Responsibilities

02:40 Quarterly Tax Deadlines

03:55 Budgeting for Taxes

05:31 Tracking and Categorizing Deductions

07:15 Submitting Tax Payments

08:26 Advanced Tax Strategies

10:07 Summary and Final Tips

11:21 Conclusion and Farewell

How to Start and Operate Your Locums Practice:https://thelocumcpa.com/

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The Locum CPA is hosted by Stephen Lee, a Certified Public Accountant and Certified Private Wealth Advisor®. On this channel, you will find strategic business advice related to locum tenens professionals. Topics to be covered will include how to set up and operate your locum tenens practice to maximize tax deductions, tax savings, pay quarterly estimated taxes and bring overall peace of mind when operating a locums practice.

The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act or refrain from acting on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances. The use or reliance on any information contained on this channel is solely at your own risk.