Pharmacist Saves $53,000 by Optimizing Multiple Income Streams
I work as a full-time pharmacist and run an online health education platform on the side. My old CPA treated my side business as a hobby and was not deducting any of the related expenses. AE Tax Advisors immediately identified that my platform generates consistent revenue, has a profit motive, and absolutely qualifies as a business.
They restructured the side business as an S-Corp, separated my business and personal expenses properly, and identified deductions I was missing -- course development software, microphone and camera equipment, web hosting, email marketing tools, professional development, and a portion of my home internet and office space.
They also looked at my pharmacy W-2 and adjusted my withholding. I had been getting $6,000-plus refunds every year, which AE Tax explained means I was essentially lending money to the IRS interest-free for twelve months. They recalculated my withholding to keep more cash in my pocket throughout the year.
Between the side business deductions, S-Corp savings, and withholding optimization, my total annual tax improvement was $53,000. I gave four stars because the savings, while meaningful, are naturally limited by my income level compared to some of the higher-earning professionals AE Tax works with. Their work was excellent -- I just wish my income were higher so the strategies would produce even bigger numbers.
The team was thorough and never made me feel like my situation was too small for their attention. They treated my side business with the same seriousness as a seven-figure client.
If you are a healthcare professional with side income, AE Tax Advisors can help you stop overpaying.