Last year's stimulus bill extended the so-called "bonus" depreciation, increased the Section 179 first-year write-off for newly acquired equipment, and added two new "targeted" groups to those whose first-year wages are reduced. To put 2010 tax breaks in perspective, ModernMedicine provides an overview of each of those provisions, and how you can take advantage of them, along with articles containing other tips and reminders—it’s not too soon to start planning for tax day 2011!

2009 tax breaks for physicians and medical practices in the federal bailout
The stimulus bill’s provisions that are of most interest to physicians—the business-related tax breaks—include extensions of the available tax write-offs for adding new equipment to your practice.

Four money-saving ideas can help you prepare for Tax Day 2010
Here’s some motivation to get you to investigate various planning concepts before April 15: Have the right practice entity/payment structure/benefit plan; consider cash value life insurance; make sure you have a tax-efficient investment portfolio; and protect your receivables.

Maximizing charitable contributions
How to help your tax return while helping others.

Municipal bonds offer multiple tax advantages
Municipal bonds are exempt from alternative minimum tax calculations for 2009 and 2010; however, owning 'munis' could raise the tax you owe on Social Security benefits.

Start process of tax planning for 2010 now
In 2009, it seemed as if new tax laws were being passed, amended, or extended monthly. This year may see more changes to the tax code, so you should begin the tax planning process earlier than normal this year to take advantage of some of the opportunities.

2010 tax guide: Strategies to lower your taxes and help you keep more money
Energy efficiency credits? Roth IRA conversions? Homebuyer credits? A Medical Economics advisor tells you what you need to know to tackle your 1040.

Which type of financial trust is right for you?
Myriad options allow physicians to minimize tax liability and assist surviving family.