Our Services
Associates
Package Options
The W2 Associate :: aka The 1120
Being paid as an employee (aka W2 associate) simplifies your tax life. While TurboTax can help you file your taxes, it probably doesn’t know a lick about what to do about your student loan balance. More than just ensuring the correct filing status is minimizing your student loan payments, the W2 Associate service is designed for associates who want to work towards becoming a practice owner. From A to T, we will equip you with the right financial tools to make that transition as smooth as possible.
Fees starting at $75 per month
The 1099 Associate :: aka The 1110
When you are paid as an independent contractor (aka 1099 associate), you are responsible for managing your own taxes and expenses. While this can create more opportunity to utilize certain tax strategies, it requires you to be more organized and intentional about how you plan for your taxes and manage your income. Our services have you covered from 1 to 32. We help manage your entity selection, payroll, tax strategies, mid-year tax calculations, and more. Most 1099 associates get a brutal tax lesson in April the year after they start working. We don’t want you to learn about taxes the hard way. Let’s help you get prepared today.
Fees starting at $280 per month
Starting at $75 per month
Starting at $280 per month
Associate FAQs
What is a W-2 Associate?
A W-2 Associate is an associate dentist who gets paid as an employee of a business. When you start this job, you should be asked to complete IRS Form W-4. Your paycheck has employment taxes withheld from your paycheck. For example, if you earned $5,000 during a pay period, you would get a direct deposit for something like $4,568. The reduction in what you were paid was due to employment taxes such as social security, medicare, and federal and state withholdings. At the end of the calendar year, you should receive a summary of all your income and taxes paid that is reported on an IRS From W-2.
What is a 1099 Associate?
A 1099 Associate is an associate dentist who gets paid as an independent contractor. Usually, when you start this job, you will be asked to provide IRS From W-9. Your paycheck does not have any taxes withheld. For example, if you earned $5,000 during a pay period, you would get a check for $5,000 for that pay period. It would then be up to you to report that income on your tax return and pay any related taxes from that payment. At the end of the calendar year, you should receive a summary of all your income that is reported on an IRS Form 1099.
What if I have some W2 Income and some 1099 Income?
As long as you have at least some income as a 1099 associate, then you likely need the 1099 package, but this will be determined for sure after your individual consultation.