Stephen Lee, CPA, CPWA®

Епизоде

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  What 1099 Physicians can actually deduct 19.09.2026 9мин

  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 useVehicle deductions and the commuting rules that trip people upTravel expenses and why your "tax home" matters for locum physiciansHome office deductions, meals, and entertainmentHealth insurance and retirement planning strategiesWhy maximizing deductions isn't where the biggest tax planning opportunities are for high-income earnersThe 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
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  Reasonable Compensation for 1099 Physicians 12.09.2026 10мин

  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
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  LLC vs. S-Corp: When Is the Right Time to Make the Switch? 05.09.2026 6мин

  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
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  The Complete 1099 Physician Tax Playbook: Where to Start 29.08.2026 14мин

  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 strategyThe 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 TenensDisclaimer: This podcast is for educational purposes only and does not constitute tax, legal, or financial advice. Your individual tax situation may differ.
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  1099 Physician Tax Deductions: What You Can Actually Write Off 22.08.2026 13мин

  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.
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  Locums in Multiple States: The Tax Trap Every 1099 Physician Should Know 01.08.2026 10мин

  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=podcastIf you found this episode helpful, follow the podcast and share it with another physician working locums across state lines.
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  Earning W-2 + 1099 Income? 5 Tax Rules Most Physicians Get Wrong 25.07.2026 9мин

  W-2 income doesn't exist in a vacuum, and neither does your 1099 income. If you're a physician earning both, your tax strategy is more connected than many people realize.In this episode, Stephen Lee, CPA, explains five tax rules that physicians with both W-2 and 1099 income frequently get wrong. Learn how your hospital salary can affect self-employment tax, why an S corporation isn't always the best answer, how retirement contribution limits work across multiple plans, and why withholding from your W-2 paycheck may still leave you with a large tax bill.Whether you're working locums, moonlighting, consulting, or transitioning into more 1099 work, this episode will help you understand how these income sources interact so you can make more informed tax planning decisions.Free CPA's Guide to Locum Tenens:https://stephenleecpa.com/cpas-guide-to-locum-tenens/?utm_source=spotifyBook a complimentary 15-minute discovery call:https://stephenleecpa.com/book-appointment/?utm_source=spotifyIf you found this episode helpful, follow the podcast and share it with another physician earning both W-2 and 1099 income.
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  How Much Should a 1099 Physician Save for Taxes? | The 30–45% Tax Reserve Rule 18.07.2026 13мин

  If you're a 1099 physician, one of the biggest financial mistakes you can make is treating every dollar that hits your bank account as money you can spend. Unlike W-2 employees, no one is withholding taxes for you, which means a surprise tax bill can quickly turn a great income into financial stress.In this episode, CPA and Certified Private Wealth Advisor Stephen Lee explains a practical tax reserve system for 1099 physicians. You'll learn:• Why your tax reserve should be based on net profit, not gross income• The practical 30–45% tax reserve rule• Why self-employment taxes catch so many physicians off guard• How to use a separate tax savings account to stay ahead• How S corporations and retirement contributions affect your tax reserve• A simple 7-step framework to estimate, save, and pay your taxes with confidenceWhether you're new to locum tenens or have been working as an independent contractor for years, this episode will help you build a tax system that replaces guesswork with clarity and keeps you prepared all year long.📘 Download the FREE CPA's Guide to Locum Tenens:https://stephenleecpa.com/cpas-guide-to-locum-tenens/?utm_source=podcast📅 Book a Discovery Call:https://stephenleecpa.com/book-appointment/?utm_source=podcast📊 Try Xero Accounting Software (90% off for 6 months – terms apply):https://referrals.xero.com/StephenLeeCPA_SCorp
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  Should You Elect S-Corp at $150K, $300K, or $500K of 1099 Income? 11.07.2026 13мин

  Is an S corporation the right tax strategy for your 1099 physician income? The answer isn't based on gross income alone—it depends on your net profit, reasonable compensation, and whether the tax savings outweigh the added costs and compliance.In this episode, CPA and Certified Private Wealth Advisor Stephen Lee breaks down a practical framework for evaluating an S corp election at three common income levels:$150,000 of net 1099 income – When an S corp may be too early.$300,000 of net income – When it's time to seriously run the numbers.$500,000+ of net income – Why an S corp often becomes a compelling strategy when implemented correctly.Stephen also explains:Why net profit matters more than gross 1099 income.How reasonable compensation impacts S corp tax savings.The hidden costs of payroll, bookkeeping, tax filings, and compliance.Common mistakes physicians make when electing S corp status.Why proactive tax planning is essential before year-end.How clean bookkeeping supports better tax and financial decisions.Whether you work locum tenens, telemedicine, moonlighting, or any other independent contractor role, this episode will help you understand when an S corp may—or may not—make sense for your practice.Helpful Resources:📘 Free CPA's Guide to Locum Tenenshttps://stephenleecpa.com/cpas-guide-to-locum-tenens/📅 Schedule a Discovery Callhttps://stephenleecpa.com/book-appointment/?utm_source=spotify📊 Try Xero Accounting Software (90% off for 6 months—terms apply)https://referrals.xero.com/StephenLeeCPA_SCorpDisclaimer: This episode is for educational purposes only and should not be considered tax, legal, or financial advice. Every physician's situation is unique. Consult a qualified tax professional before making tax or entity decisions.
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  First Year as a 1099 Physician? Do These 7 Things Before Tax Time 27.06.2026 16мин

  If this is your first year as a 1099 physician, tax season can feel completely different. No automatic withholding, no employer payroll department, no simple W-2 return, and no clear roadmap for taxes, retirement planning, quarterly payments, or entity structure decisions.In this episode, CPA and Certified Private Wealth Advisor Stephen Lee walks through the 7 essential steps every first-year 1099 physician should take before tax season. You'll learn how to set up a clean financial system, track income and expenses properly, plan for quarterly taxes, evaluate LLC and S corporation options, choose the right retirement plan, and avoid the costly mistakes that catch many physicians off guard.Whether you're working locum tenens, moonlighting, transitioning from W-2 employment, or earning a combination of W-2 and 1099 income, this episode will help you build a stronger foundation for tax and financial success.📘 Download the FREE CPA's Guide to Locum Tenens:https://stephenleecpa.com/cpas-guide-to-locum-tenens/?utm_source=podcast📅 Apply for a Complimentary Discovery Call:https://stephenleecpa.com/book-appointment/?utm_source=podcastStephen Lee CPA specializes in helping 1099 physicians, locum tenens physicians, and high-income medical professionals implement proactive tax planning strategies designed to keep more of what they earn while building long-term wealth.
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  The Complete 1099 Physician Tax System: 6 Moves to Stop Guessing and Start Planning 20.06.2026 17мин

  Are you a 1099 physician relying on random tax tips like forming an LLC, electing an S Corp, opening a SEP IRA, or saving 30% for taxes? In this episode, CPA and Certified Private Wealth Advisor Stephen Lee breaks down the complete 1099 physician tax system—a six-part framework designed to help independent physicians stop guessing and start planning.You'll learn how to build a coordinated strategy around bookkeeping, entity structure, quarterly tax payments, retirement planning, deductions, and year-end tax planning. Whether you're a locum tenens physician or earning significant 1099 income, this episode will help you understand how all the pieces fit together so you can make better decisions, avoid costly mistakes, and keep more of what you earn.In this episode:Why random tax tips are not a tax strategyThe foundation of clean bookkeepingHow to evaluate LLC vs. S Corp decisionsBuilding an effective quarterly tax payment systemUsing retirement plans strategicallyCreating an audit-safe deduction processWhy year-end planning is critical for tax savings📘 Free Guide for 1099 Physicians:https://stephenleecpa.com/cpas-guide-to-locum-tenens/📅 Book a Complimentary Discovery Call:https://stephenleecpa.com/book-appointment/If you found this episode helpful, be sure to follow the podcast and share it with other physicians looking to build a smarter tax strategy around their 1099 income.
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  1099 Physicians: How to Put Away $100K+ Tax-Advantaged 13.06.2026 17мин

  Most 1099 physicians are told the same basic retirement advice: open a SEP IRA, max out a Solo 401(k), and track your deductions. While that's a good start, high-income physicians earning $400,000, $800,000, or more may be missing significantly larger opportunities.In this episode, Stephen Lee, CPA and Certified Private Wealth Advisor, breaks down how some 1099 physicians may be able to contribute $100,000+ annually into tax-advantaged retirement plans using strategies such as Solo 401(k)s, profit-sharing contributions, and cash balance plans. More importantly, he explains when these strategies make sense—and when they don't.You'll learn:• What people really mean when they say "tax-free" retirement contributions• How Solo 401(k) contribution limits work for high-income physicians• When a cash balance plan may unlock larger deductions• Common mistakes that prevent physicians from maximizing retirement contributions• The ideal profile for physicians considering advanced retirement planning• Why entity structure, payroll, bookkeeping, and cash flow all matterIf you're a 1099 physician looking to reduce taxes, build long-term wealth, and stop relying on basic retirement advice, this episode is for you.📘 Free Guide for 1099 Physicians:https://stephenleecpa.com/cpas-guide-to-locum-tenens/?utm_source=podcast📅 Book a Complimentary Discovery Call:https://stephenleecpa.com/book-appointment/?utm_source=podcast⚠️ Disclaimer: This podcast is for educational purposes only and should not be considered tax, legal, investment, or financial advice. Always consult with qualified professionals regarding your specific situation.
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  How One 1099 Physician Saved $42,000 in Taxes (Step-by-Step Breakdown) 07.06.2026 20мин

  A 1099 physician saved $42,000 in taxes, without buying a luxury SUV, creating questionable write-offs, or using aggressive tax loopholes.In this episode, CPA and Certified Wealth Advisor Stephen Lee breaks down a real-world case study of a physician earning approximately $575,000 as a 1099 contractor and the step-by-step strategy that helped create significant tax savings while staying compliant.You'll learn how entity structure, a properly designed S-Corp strategy, retirement planning, clean business deductions, and proactive tax planning can work together to potentially save tens of thousands of dollars each year.More importantly, you'll discover why tax savings rarely come from one magic deduction and why the highest-earning physicians benefit most from building a complete tax system rather than chasing tax tricks.In this episode, you'll learn:• How a 1099 physician saved approximately $42,000 in taxes• When an S-Corp may (and may not) make sense• The importance of reasonable compensation for physician owners• How retirement plans can create substantial tax deductions while building wealth• Common business deductions many physicians miss• Why clean bookkeeping is the foundation of effective tax planning• How to create a tax reserve system that eliminates surprise tax bills• The biggest mistake high-income 1099 physicians make with taxesIf you're a physician earning $350,000, $500,000, or more as a 1099 contractor, this episode will help you think about tax planning from a strategic perspective rather than a reactive one.🎁 Free Tax Savings Guide:https://stephenleecpa.com/cpas-guide-to-locum-tenens/📅 Book a Complimentary Discovery Call:https://stephenleecpa.com/book-appointment/Disclaimer: This podcast is for educational purposes only and should not be considered tax, legal, financial, or investment advice. Please consult your own qualified advisors regarding your specific situation.
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  How 1099 Physicians Should Actually Calculate Quarterly Taxes — Step-by-Step 30.05.2026 22мин

  Most 1099 physicians are calculating quarterly taxes the wrong way, and it can lead to penalties, cash flow problems, and massive surprises at tax time.In this episode, CPA and Certified Private Wealth Advisor Stephen Lee breaks down how high-income 1099 physicians should actually calculate quarterly estimated taxes. You'll learn the difference between safe harbor payments and true tax projections, how S corporations impact your tax strategy, how retirement contributions affect estimated payments, and the step-by-step framework used to project tax liability throughout the year.Whether you're earning $300,000, $500,000, or over $1 million as a 1099 physician, this episode will help you build a tax system that reduces surprises and creates more control over your finances.Topics Covered:• Why the "just save 30%" rule can be dangerous• The IRS safe harbor rules every physician should know• How to calculate quarterly taxes step by step• Sole proprietor vs. S corporation tax planning• Self-employment tax and payroll tax considerations• Retirement contributions and tax projections• State tax planning for locum and multi-state physicians• Common quarterly tax mistakes physicians make• Building a tax reserve system that works📅 Want help reviewing your quarterly tax strategy, S corporation structure, retirement planning, and overall tax system?Book a complimentary discovery call:https://stephenleecpa.com/book-appointment/🎁 Download our free physician tax planning resources:https://stephenleecpa.com/cpas-guide-to-locum-tenens/If you found this episode helpful, follow the podcast and share it with another 1099 physician who wants to stop reacting at tax time and start planning like a business owner.
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  1099 Physicians_ When an S-Corp Actually Saves You $30K+ (And When It Doesn’t) 23.05.2026 12мин

  If you're a 1099 physician wondering whether an S corp can actually save you serious money or if it's just overhyped tax advice, this episode is for you.In this episode, Stephen Lee, CPA and Certified Private Wealth Advisor, breaks down the real S corp conversation for high-income independent physicians. You’ll learn when an S corp can potentially save $30K+ per year in taxes, when the savings are far less impressive than people claim, and why poor implementation can create expensive problems.This episode covers:How S corp tax savings actually workThe difference between salary and distributionsWhat “reasonable compensation” really meansWhen physicians are strong S corp candidatesWhen the numbers usually disappointThe hidden costs of payroll, compliance, bookkeeping, and adminWhy copying another doctor’s structure can backfireThe biggest mistakes physicians make with S corpsIf you're earning strong 1099 income and want to understand whether an S corp truly makes sense for your situation, this episode will help you think through the decision more strategically instead of blindly following internet advice.Book a complimentary discovery call:Stephen Lee CPA Appointment PageThis podcast is for educational purposes only and is not specific tax, legal, or investment advice.
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  Stop Doing This With Your 1099 Income (What High-Earning Doctors Get Wrong) 16.05.2026 8мин

  5 Costly Money Mistakes 1099 Physicians Make (And How to Fix Them)In this episode, I explain why many high-earning 1099 physicians still feel financially stressed—not because they don’t make enough, but because they haven’t built the business systems needed to manage taxes, cash flow, and bookkeeping. Payment workflow made smarter by Melio - https://affiliates.meliopayments.com/...The exact framework I walk through with new clients and how to structure your entity, what to track, which retirement accounts to use, and how to stop leaving money on the table. Free, no catch.The CPA's Guide to Being a 1099 Physician https://stephenleecpa.com/cpas-guide-...Book an appointment - https://stephenleecpa.com/the-locum-c...🔔 Subscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.Subscribe for smart, actionable advice — and take control of your financial future.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.00:00 1099 Money Disappears01:13 Mistake One Paycheck Mindset02:16 Mistake Two Messy Books02:58 Discovery Call Offer03:29 Sponsor Melio Bill Pay05:08 Mistake Three Emotional Payments05:53 Mistake Four Contractor Compliance06:39 Mistake Five More Income Myth07:26 Six Step Reset Plan08:09 Wrap Up Subscribe
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  Tax Strategies That Save 1099 Physicians $50,000+ Per Year 09.05.2026 4мин

  1099 Physician Tax Strategy: Stop Overpaying the IRS (QBI, Retirement Plans, S-Corp)Special Xero offer: Get 90% off for 6 months using this link - https://referrals.xero.com/StephenLee...Terms & Conditions apply.*The exact framework I walk through with new clients and how to structure your entity, what to track, which retirement accounts to use, and how to stop leaving money on the table. Free, no catch.The CPA's Guide to Being a 1099 Physician https://stephenleecpa.com/cpas-guide-...Book an appointment - https://stephenleecpa.com/the-locum-c...In this episode, I break down why many high-income 1099 physicians earning $350K to $1M+ often overpay the IRS by $30K–$50K+ each year—not from carelessness, but from poor business structure and lack of proactive tax planning. I cover the biggest leaks: missed deductions due to poor tracking and no real-time visibility into profit, and why using clean bookkeeping systems like Xero can help you make decisions during the year instead of at tax time. I also explain how the QBI deduction works for physicians as a specified service business and why controlling taxable income matters, how high earners use retirement plans (Solo 401(k), SEP IRA, cash balance plans) to defer over $100K annually, and why an S-Corp structure can reduce self-employment taxes by splitting salary and distributions. Finally, I emphasize that clean records and documentation are essential to protect deductions and execute any strategy.Subscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.Subscribe for smart, actionable advice — and take control of your financial future.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.00:00 Stop Overpaying Taxes00:43 1099 Business Mindset01:11 Tracking and Xero Setup02:16 QBI Deduction Strategy02:47 Retirement Tax Shields03:13 S Corp Savings03:47 Clean Books and Wrap Up
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  You Filed Your Taxes. Now What? (10 Moves to Make Immediately) 18.04.2026 4мин

  10 Things to Do After Filing Your Taxes (Avoid Penalties & Keep More Money)CPA and certified private wealth advisor Stephen Lee explains that filing taxes is only the starting point and outlines 10 actions to take after filing to avoid penalties and optimize next year’s taxes: track your refund using the IRS “Where’s My Refund” tool, review your return for errors and save all supporting documents, adjust your W-4 if your refund or balance due was large, update quarterly estimated taxes if you have 1099 or self-employment income, set up an IRS online account to view transcripts and notices, respond immediately to IRS letters, plan proactively for next year’s strategy, organize and digitize records for at least three years, meet with a tax professional—especially if you earn over $200,000 or own a business—and update addresses, banking, and direct deposit information to prevent delays.Subscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.Subscribe for smart, actionable advice — and take control of your financial future.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.00:00 After Filing Matters00:46 Track Your Refund01:12 Review Return Details01:36 Fix Your W-401:52 Adjust Estimated Taxes02:12 Set Up IRS Account02:33 Handle IRS Notices02:51 Plan Next Year Now03:06 Organize and Digitize03:17 Meet a Tax Pro03:34 Update Your Info03:51 Bottom Line Wrap-Up
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  STOP OVERPAYING TAXES 11.04.2026 6мин

  Common Tax Mistakes That Make Business Owners Overpay (And How to Fix Them)Special Xero offer: Get 90% off for 6 months using this link - https://referrals.xero.com/StephenLee...Terms & Conditions apply.*CPA Stephen Lee explains that many business owners legally overpay taxes by missing strategies allowed by the tax code, then walks through 15 common issues and how to fix them. He covers failing to deduct ordinary and necessary expenses, the home office deduction, mileage and travel tracking, not using retirement plans like SEP IRAs and solo 401(k)s, missing the QBI (Section 199A) deduction, improper worker classification, incorrect depreciation (Section 179 and bonus depreciation), ignoring startup and organizational costs, not writing off bad debts, lacking an accountable plan for reimbursements, poor record keeping, overpaying estimated taxes, failing to claim available tax credits, being overly conservative or overly aggressive with deductions, and not working with a tax professional for ongoing planning.Subscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.Subscribe for smart, actionable advice — and take control of your financial future.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.00:00 Stop Overpaying Taxes00:51 Write Off Business Expenses01:17 Home Office and Mileage01:51 Retirement Plan Tax Savings02:13 QBI Deduction Explained02:32 Payroll and Depreciation03:02 Startup Costs and Bad Debts03:29 Accountable Plans and Records04:00 Estimates Credits and Risk04:47 Work With a Tax Pro05:02 Bottom Line and Wrap Up
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  The IRS "Target" on W-2 Employees (New 2026 Audit Triggers) 02.04.2026 4мин

  IRS Upgrade: Top Audit Triggers for W‑2 Employees (and How to Avoid Them Legally)CPA Stephen Lee explains that the IRS has upgraded its systems to flag common W‑2 return mistakes and outlines key triggers for manual review, especially for employees with side hustles, crypto activity, or home office claims. Major red flags include underreporting income that doesn’t match W‑2/1099/brokerage data, large or disproportionate deductions, consistent business losses that can be reclassified as a hobby, improper refundable credit claims (EITC, child, education), large cash transactions or unexplained deposits, and simple issues like math errors, missing forms, and incomplete returns. He also warns about incorrect dependents or filing status, unreported foreign accounts, abusive tax shelters and “Dirty Dozen” scam patterns, and using a “ghost preparer.” The takeaway: prioritize accuracy, consistency, and documentation to stay audit-ready.00:00 IRS Upgrade Warning00:29 Who I Am00:54 Underreported Income01:21 Unusual Deductions01:49 Side Hustle Losses02:07 Credit Claim Triggers02:30 Cash Deposit Scrutiny02:50 Simple Filing Errors03:04 Dependents and Status03:20 Foreign and Shelter Risks03:37 Dirty Dozen Scams03:56 Ghost Preparer Red Flags04:09 Three Key Takeaways04:29 Subscribe and Wrap UpSubscribe for more tips and strategies tailored for business owners and high earning professionals.On this channel, Stephen Lee shares proven strategies to help high earners, business owners, and professionals keep more of what they make, minimize taxes, and build lasting wealth.Whether you’re optimizing your S-Corp, investing smarter, or managing 1099 income, this channel gives you the tools to make confident money moves — backed by real client experience.Subscribe for smart, actionable advice — and take control of your financial future.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.