CPA
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My CPA mentioned this. Not what I want to do.

100% I chuckle at the NEVER-MLPers if/when they cite K1 Fears….FIND A BETTER CPA

Tonynca, I guess what I do not know and what I am asking....is how do I pay quarterly? This year will not be an issue because according to my CPA if I pay double my taxes of last year, I will not get the penalty. Next year I will need to start paying quarterly.
I will obviously figure this out with my CPA. Just looking for feedback from other traders. Thanks for your comments.

OP, this is good advice^
I’ve reviewed these types of opportunities for my clients as a CFP at my families CPA firm that specializes in physicians/dentists. The biggest risk is when life happens and a partner has to leave for planned or unplanned reasons. You mentioned debt levels of the practice so pay close attention to how exits are supposed to be funded. Insurance, cash, seller financed, etc? The funding mechanism is crucial to understand since each have their own pros/cons. 
You are examining a business first then a medial practice, remember that. 
Finally, do a tax lien search (for federal and state) on the entity. Also a court case look up on the partners personally. Sometimes when partners are in a bind for legal or tax reasons they think bringing in a new “bright eyed” employee with the promise of partnership is the answer. This is due diligence on your part so you can’t skip it. 

Doesn’t sound like their guy truly has the heart of a teacher. Depending on the portfolio, it may not suck. It just may be expensive.
You’ll have to judge your relationship with your parents. It’s the people stuff. They may have a leveraged ETF or something that goes through the roof and you’re never gonna match that. And a lot of Bubba’s just won’t understand unfair comparing. Investing is retail. Ugh
I tried really hard to help my late mother. She just dealt in people. And trusting. And paid for it. The lady at the bank is so nice etc. Mom was wonderful, but even before she was elderly… did not want advice. We were not local so it was difficult. Sibling did not support us helping her though. She did “trust” us. Just uninterested. wanted a local relationship… Meh
It’s maddening because SO is a CPA and I have graduate-level training in this stuff. More qualified than most FAs lol.
Rant below lol
This makes me appreciate what Dave Ramsey of all people says. Get an investment advisor with “the heart of a teacher”. Of course he understands sometimes they’re expensive and he makes money on it but — for people like your parents that may be better.
DR looks at past history of performance. And managed funds in tax advantage accounts. Which isn’t the worst thing in the world but it’s not mathematically optimal. That’s probably what’s going on with your parents advisor. aside, I think DR optimizing for low information investors AND HELPING THEM STAY THE COURSE.
Not the worst thing in the world, but BH obv stay away … what DR does understand is a behavioral and cognitive biases and the fact that humans are very very VERY imperfect. Especially those from backgrounds were money is not managed well and that’s many many of what we consider normal people.
IMHO people are not capable of handling downturns. In most cases.
Nor can they really do the math they just know bigger and smaller.
I read today’s posts with a grin. I’m an old fart. We lost large amounts in the downturns. Relative to what we were earning at the time. We had many people we knew that jumped out. This is going to happen again. That could ruin a relationship and you know this.
BUT it’s not about did you make more money? It’s about risk-adjusted returns. And the risk is given by the volatility. And beta is not something people understand.
Most advisors find a way to TRY get expensive alpha and that’s kind of what your guy did.
And if readers don’t understand those terms that’s fine.
But this deals with some real behavioral issues.
Good luck 👍 sounds like you were blessed with some wonderful parents. This is definitely the category of “good problems”

Good question. I have a friend that is a CPA so he helps a ton. And A lot of the income came from props so it was just a 1099 that was sent to an s corp. as far as live capital goes, there’s diff ways you can go about it, but I don’t wanna share any specifics as we are on the internet! Lol

Why? Do you really have time to be a landlord on top of being a doctor? When taking account the time spent managing the property + paying CPA + real estate agent, the expected return is less than just investing in low cost index funds

As a CPA you’re wrong lol.

You won’t get audited for not paying quarterly. You might though for not paying the penalty and taxes owed. Best to have a CPA calculate it all correctly.

Short answer of what I do
Pay the quarterly
Other details:
LLC is a pass thru so it doesnt really lower your tax bill but it could help you separate your financials. Savings on taxes could come from maxing out solo 401k, backdoor ROTH, HSA.
Talk to a CPA and see if you set up the LLC maybe put some cash into family members retirement accounts
Or boring
You could also set aside 35-40% of every profitable month
Not financial advice just what I heard one day at a Tiny Robbins concert 😎

Who is your CPA? I hope that is not DayTrader\*\*\*\*\* something.
That guy had messed up everything for me

You're missing a trump account for your baby. It's free $1k deposit upon sign up, and max it out. It's not tax deductible for you. When child reaches 18yrs old, convert to Roth IRA. That will be the lowest tax hit your child would experience. Another option along with that, create a tax loss to offset the Roth IRA conversion such as buying several real estate properties that barely break even under your child, sell the properties where your CPA can constructively create more tax loss to offset the IRA conversion. Each state has their own different rules on how a child can own real estate, consult with your CPA what are the possible options.
I recommend a tax strategist CPA who should be number one on your financial team. Financial advisor may be a team member.
Some advocate for a FA, I didn't find my guy useful. I had a FA for 10 yrs, didn't do much for my return and some of the advice was contrary to my gut which I was later proven correct. He only had control over money I can afford to lose, to see what he can do. I made far more on my own.

Even with mark to market, if he doesn’t pay his short term gains taxes every quarter, the IRS is going to charge him interest on those gains.
His CPA is correct on this one. Maybe yours is already calculating for it but you don’t know about it.
He should not listen to either of us on this matter, he really should trust his CPA because they’re licensed.
A quick ask on Claude also agrees with his CPA.

Your CPA must be brand new because they have no idea what they’re talking about.
I’ve been day trading for over 5 years and also have a job income.
You just pay short term capital gains tax rates, which are equivalent to income brackets. Simple as that, end of discussion.
There are no ways to reduce it other than filing for what’s called “mark to market”. This allows you to avoid any wash sale rules and also write off any expenses such as a business. However my understanding is that it needs to be sent in this year for the following year, so you could only use the benefits for next year. I never did it because the standard deduction always winds up being more. You can’t write off enough expenses to make it worthwhile.

I have been day trading since Jan 2026. I've made about 130k YTD. I'm hoping to be over 200k by years end. I will also have around 130k in work income. I am going to get hit hard in taxes obviously. I have talked to a CPA who also did my taxes last year. Apparently there are penalties for not having withheld enough money in short term gains. I thought I would just write a check on or before April 15th for what is owed.
For this year, he is telling me so long as I pay in double of last years federal and state taxes I will avoid any penalties and pay the remainder of what I owe on or before 4/15. I have not really talked to him yet of how I address this next year. What are you other successful traders doing? Are you paying quarterly somehow?

And what if anything can be done to lower the amount of taxes your paying? I was reading someone's posts where they actually made an LLC so they could write off vehicle and office expenses but that does not add up to much.

I’m a CPA, want to clarify a few things, Capex goes to a balance sheet, OPex goes to profit and loss statement. The depreciation of Capex goes to profit and sta

Hey u/ryank001, thanks for sharing your thoughts. I wanted to reply with a few notes that I think are misconceptions out there. Maybe they change your mind, maybe they don't- that's okay! What's just important is that the info is out there for people to make their own decisions.
Regarding Ross's track record, I'm not totally sure what you mean about scale. He has been trading the same strategy for over a decade, and has brokerage statements available on our website (audited by a CPA firm) going back to 2017, along with recaps on the YouTube channel. He has seen some years bigger than others based on the market, like most people. He's also done numerous Small Account Challenges, the most famous was the one was the first where he started with $583 in 2017, and that account is now over $18million (again, audited and verified on the website for anyone to view).
If you mean scalable in the sense of it being his only source of income and not "needing to sell classes", I wouldn't refer to that as "scale"—it's a choice to have multiple income streams like so many people desire to do. Teaching stemmed from Ross starting a blog about his journey, and was a natural evolution for him. That has grown further -Ross teaches and streams daily, but he has also built Warrior into a software business offering scanners, charting (in partnership with TradingView), news, and a simulator. There is a whole team behind it, it isn't just selling videos behind a paywall "because his strategy doesn't scale."
Regarding scalping and beginners- yes, scalping involves being quick. Ross's strategy isn't for everyone, and for some people, the need to put multiple pieces of information together quickly isn't going to work for them or be something they are comfortable with. At the same time, the "breakout or bailout" mentality of scalping appeals to many people who don't like the feeling of the risk of holding trades for longer. That "instant" resolution and feedback works for them.
So, all that is to say, it's crucial for people to evaluate a bunch of strategies when they get started so they can see what works for them both from a speed and requirement standpoint, but also from a risk standpoint.
Thanks!

I am a partner in a CPA with many international clients. I use Merrill Lynch, which is owned by Bank of America. When you open an account as a foreigner, the broker-dealer or bank should be asking you for your tax ID, either an SSN or an ITIN. If you have a Green Card, you need to file a 1040 individual tax return, same as a US citizen. Otherwise, you need to file a 1040NR. The broker should be doing mandatory withholding on dividends, interest and capital gains and providing you tax documents by January 31. It is likely the withholding would be too high and you need to file a 1040NR for a refund. If you are apprehended and deemed illegal, the government could seize your funds and you would need a lawyer to recover. Anyone can enter your tax ID into the E-Verify system and determine if you are “work eligible.” If you entered in temporary protected status, many TPS have been recently revoked, so look into that.

A lot of what you're describing here is really attorney work as much as it is CPA work, maybe more so once you get into the operating agreement itself. I negotiate practice buy ins for healthcare professionals, mostly dental since that is where the highest volume sits (hence the user name), but the buy in structures across medicine share a lot of the same mechanics as what you're describing, especially in a group with multiple ASCs and a layered admin structure like yours.
My framing to clients going into one of these is always the same. This is rarely about negotiating for more of the pie. It is about protecting your slice. Right now you are being offered something that sounds good in concept. The major risks shows up later, when the partnership changes, and it always changes eventually. Someone leaves, someone dies, someone gets divorced, the group restructures, a partner gets bought out, the group sells to PE. I see the most damage done at that end of the relationship, not the start, because the agreement was drafted by the majority side's attorney to protect the majority side. If you are coming in as a newer or minority partner, the document is not neutral by default. It was written to protect whoever the drafting attorney was hired by.
So the EBITDA benchmarks and debt ratio questions absolutely matter, and a healthcare focused CPA or valuation person can help you get comfortable with whether the price is fair. But just as important is having someone read the operating agreement itself, the buy sell provisions, the vesting schedule, tag-along rights, the deadlock and dissolution language, and the terms that control what happens to your stake if you leave voluntarily, get pushed out, or the group sells down the line. That is the part that determines whether you end up with real ownership or a minority stake that pays out at pennies on the dollar of what you thought you had when the music stops.
Happy to talk through what that side of the review looks like if it would help.

I think you want to work with a firm (so not a solo CPA) who serves lots of businesses and regularly does transaction-leveling consulting.