Most solopreneur physicians are familiar with the self-employed health insurance deduction. If you are self-employed and pay for your own health insurance, you may be able to deduct the premiums above the line instead of treating them as an itemized medical expense. That is valuable, especially for physicians buying coverage on the individual market, but it has limits. It generally does not allow you to deduct all out-of-pocket medical expenses, and it does not turn every family healthcare cost into a business deduction.

As a physician working from home, you have two methods to calculate your home office deduction: the simplified method and the actual expense method. While the simplified method appears straightforward on the surface, recent tax law changes—particularly the increase in SALT deduction limits—have shifted the calculation in ways that may surprise you.

For most taxpayers, the largest tax obligation they pay at the state/local level is their state income tax.