Episode 68: Year-End Tax Moves to Maximize Savings

In Episode 68 of Doctor’s Wealth and Wellness, host Norm Wright, a Certified Financial Planner with SKC Financial Group, presents a Tuesday financial episode focused on year-end tax strategies for physicians to maximize savings as 2025 taxes loom. Highlighting a 2025 IRS report that physicians miss $15,000–$25,000 annually by overlooking tax opportunities, Wright outlines three tailored strategies: accelerating deductions, like Dr. Patel’s $5,000 CME prepayment saving $2,000; deferring income, as Dr. Elena did with a $15,000 bonus to save $4,500; and tax-loss harvesting, exemplified by Dr. Chen’s $12,000 stock loss offsetting gains to save $3,000. Backed by 2025 MGMA, Schwab, and Fidelity studies, these moves aim to lower taxable income and support goals like debt repayment or retirement. Wright urges listeners to act this week—prepay an expense, defer income, or review investments—and contact [email protected] for a free consultation to optimize their 2026 financial plan, while encouraging them to share the episode and tune in Friday for wellness insights. Examples in this episode are hypothetical and not representative of a specific individual.