What are physicians taking tax breaks on?

Here are the tax breaks physicians use most often, according to the Medscape 2023 “Physician and Taxes Report“:

Amelia Ickes

Monday, July 17th, 2023

Tax break	Percentage
Contributing to charity	70 percent
Contributing to a pre-tax 401(k) account	60 percent
Deducting interest on a home mortgage	52 percent
Writing off eligible business expenses	46 percent
Contributing to a 529 college savings plan	27 percent
Selling investments at a loss	22 percent
Contributing to a backdoor Roth IRA account	20 percent
Owning rental properties	17 percent
Contributing to a cash balance pension plan	11 percent

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