What tax breaks physicians use most often

Contributing to a pre-tax 401(k) account is the tax break physicians use the most often, according to Medscape’sPhysicians and Taxes Report 2022.”

Advertisement

The report surveyed more than 1,500 physicians on their taxes and how they feel about them. 

Here are the tax breaks physicians use the most often:

  • Contributing to a pre-tax 401(k) account: 60 percent
  • Contributing to charity: 54 percent
  • Paying interest on a home mortgage: 46 percent
  • Writing off eligible business expenses: 39 percent
  • Contributing to a 529 college savings plan: 25 percent
  • Contributing to a backdoor Roth IRA account: 21 percent
  • Selling investments at a loss: 13 percent
  • Owning rental properties: 12 percent 
  • Contributing to a cash balance pension plan: 11 percent
Advertisement

Next Up in ASC News

  • Becker’s reported on 39 hospital mergers and acquisitions in 2025, ranging from rural hospital partnerships to massive, multi-state system expansions. …

  • Brewer, Maine-based Northern Light Health will close its primary care practice in Castine on Feb. 27, citing staffing challenges, declining…

  • The dynamics shaping mergers and acquisitions within the ASC space are constantly shifting as corporate entities push consolidation efforts and…

Advertisement

Comments are closed.