Medscape’s “Physicians and Taxes Report 2023: Are You Paying Too Much?” released July 13, surveyed 10,011 physicians across 29 specialties between October and January.
Here are five notes on physician taxes:
- In 2022, physicians paid an average of $83,620 in federal taxes and $12,957 in state taxes, up from $76,117 in federal and down from $13,108 in state in 2021.
- Seventy-five percent of physicians said they felt they pay too much in taxes.
- Of physicians, 46 percent do their own taxes and 56 percent said it was important to have a tax preparer who works with physicians.
- The fees for tax preparers have risen by 18 percent since 2021, up to an average of $1,092.
- Eighteen percent of physicians said they had been audited, and of those, 71 percent said they were treated fairly by auditors.
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