A lot of people don’t know how many extra costs come with being a Doctor. I’ll do a basic breakdown of what $300K income would actually net the individual.
300,000
128,000 in taxes
4,000 in continuing medical education fees
2,000 accreditation
2,400 daily parking at work ($10/day)
25,000 to pay a billing secretary (Doctors generally do not have time to do their own billing, if they did they’d be working 60-70 hours/week)
And there are more costs, those are just estimates of the ones I’m aware of.
= 138,600 net take home
Disclaimer: I am not a doctor and this breakdown is only an estimate and missing tons of details. Actual take home amount is likely lower than this calculation.