Hello,
Long time lurker.
I am fresh out of fellowship FM/SM physician in Michigan, filing single, $0 debt, have contributed to traditional IRA for the last 4 years as well. No other investments or assets, $20k of savings. Income will be varied, but hopefully at least $5k/week.
I've decided on doing locums, and was wondering how I should go about it as I'd be a contractor, thus filing a 1099.
I've read up on developing an S corporation, but concerned about specifics that entail forming such a corp based, so can someone guide me with this a bit?
Also, as with locums, I am not eligible for insurance, but as I understand:
1) I could deduct this from taxes, as well as writing off the travel/accommodation?
2) If my corporation is listed in Texas, how would tax deduction work if I work in Michigan? I.e. How much of travel can I deduct (return flight from Michigan, daily travel from hotel site to work site), and how would accommodation deduction work?
Thanks!
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