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  • Locums tenens payroll advice needed

    Looking for accounting suggestions. I would love to learn from other physicians who have addressed similar accounting issues.

    I am a locum tenens physician (1099) who works in 2-4 states per year and earns my income through an LLC that files as an S corporation. For people who use an LLC or S corporation, do you handle your own payroll or pay for someone else to handle this? If you handle your own payroll, what software or services do you use?

    Regarding accounting software, I currently use a combination of Excel and mint.com. I have very few business expenses (some CME, non-reimbursable travel expenses, home office, licensing, etc.). What software are people using for tracking their work and/or personal finances?


  • #2
    Interesting. I am just a sole proprietor who writes everything down in a Google Doc. I just have bolded headlines for mileage, days for incidentals and meals, minutes I spend on my phone, travel expenses, licenses, etc. This is my first year doing this.

    I am only doing locums in one state for the moment. This is my first year, so I am still learning the process. I looked up how the state expects me to pay income taxes. It appears that their safe harbor is 110% of taxes paid last year, but since I paid $0 last year, I am just going to save it up in my bank account and pay it all next April.

    I am not working that much, and my situation may be simpler than yours.

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    • #3
      I use Quickbooks online for my business, (not a physician) but it has a lot of easy to use and customizable features for tracking income and expenses, invoicing, and payroll. If you have an accountant, they can access the software online and use it on your behalf to file your tax return, and any necessary quarterly reports, etc. https://quickbooks.intuit.com.

      If you just want payroll service/software, I use a company called SurePayroll to process payroll and pay taxes for my employees. I like the online dashboards and reporting features. They also handle all my state and federal filings, which is nice. https://www.surepayroll.com
      Jon Morris, JD, MBA - Founder/Principal
      www.mdcompadvisor.com

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