Jerry H.

As a proponent of owing federal taxes during filing season as opposed to receiving a refund, I have to be wary to avoid penalties for underpaying taxes along the way. Federal taxes are meant to be a 'pay as you earn' system where you should be "safe harbor" tax law, which are the conditions I need to satisfy in order to NOT owe penalties for underpayment. These can be found in chapter 4 of Publication 505 of the IRS website, which I will describe in more detail in this post.

This post is meant to describe what moonlighting is for a physician and why you should do it. It is generally something that can be started during training as a resident, and can continue through fellowship and even as an attending. It will be important to check the terms of your employment to make sure it is allowed. Also, for those in training, be sure to stay within the ACGME duty hours.

Tuesday, 13 June 2017 13:20

Privacy Policy

DelayedEarner.com Privacy Policy
 
 
This privacy policy has been compiled to better serve those who are concerned with how their 'Personally Identifiable Information' (PII) is being used online. PII, as described in US privacy law and information security, is information that can be used on its own or with other information to identify, contact, or locate a single person, or to identify an individual in context. Please read our privacy policy carefully to get a clear understanding of how we collect, use, protect or otherwise handle your Personally Identifiable Information in accordance with our website.

What personal information do we collect from the people that visit our blog, website or app?

We do not collect information from visitors of our site.
or other details to help you with your experience.

 

When do we collect information?

 

We collect information from you when you or enter information on our site.



How do we use your information?

 

We may use the information we collect from you when you register, make a purchase, sign up for our newsletter, respond to a survey or marketing communication, surf the website, or use certain other site features in the following ways:

 

How do we protect your information?

 

We do not use vulnerability scanning and/or scanning to PCI standards.
We only provide articles and information. We never ask for credit card numbers.
We use regular Malware Scanning.
We do not use an SSL certificate
       We only provide articles and information. We never ask for personal or private information like names, email addresses, or credit card numbers.

 

Do we use 'cookies'?

 

Yes. Cookies are small files that a site or its service provider transfers to your computer's hard drive through your Web browser (if you allow) that enables the site's or service provider's systems to recognize your browser and capture and remember certain information. For instance, we use cookies to help us remember and process the items in your shopping cart. They are also used to help us understand your preferences based on previous or current site activity, which enables us to provide you with improved services. We also use cookies to help us compile aggregate data about site traffic and site interaction so that we can offer better site experiences and tools in the future.

We use cookies to:
       Compile aggregate data about site traffic and site interactions in order to offer better site experiences and tools in the future. We may also use trusted third-party services that track this information on our behalf.

You can choose to have your computer warn you each time a cookie is being sent, or you can choose to turn off all cookies. You do this through your browser settings. Since browser is a little different, look at your browser's Help Menu to learn the correct way to modify your cookies.

 

If you turn cookies off, Some of the features that make your site experience more efficient may not function properly.It won't affect the user's experience that make your site experience more efficient and may not function properly.



Third-party disclosure

 

We do not sell, trade, or otherwise transfer to outside parties your Personally Identifiable Information.

 

Third-party links

 

Occasionally, at our discretion, we may include or offer third-party products or services on our website. These third-party sites have separate and independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites. Nonetheless, we seek to protect the integrity of our site and welcome any feedback about these sites.

 

Google

 

Google's advertising requirements can be summed up by Google's Advertising Principles. They are put in place to provide a positive experience for users. https://support.google.com/adwordspolicy/answer/1316548?hl=en 
We use Google AdSense Advertising on our website.

Google, as a third-party vendor, uses cookies to serve ads on our site. Google's use of the DART cookie enables it to serve ads to our users based on previous visits to our site and other sites on the Internet. Users may opt-out of the use of the DART cookie by visiting the Google Ad and Content Network privacy policy.

We have implemented the following:
       Google Display Network Impression Reporting

 

We, along with third-party vendors such as Google use first-party cookies (such as the Google Analytics cookies) and third-party cookies (such as the DoubleClick cookie) or other third-party identifiers together to compile data regarding user interactions with ad impressions and other ad service functions as they relate to our website.

Opting out:
Users can set preferences for how Google advertises to you using the Google Ad Settings page. Alternatively, you can opt out by visiting the Network Advertising Initiative Opt Out page or by using the Google Analytics Opt Out Browser add on.

 

California Online Privacy Protection Act

 

CalOPPA is the first state law in the nation to require commercial websites and online services to post a privacy policy. The law's reach stretches well beyond California to require any person or company in the United States (and conceivably the world) that operates websites collecting Personally Identifiable Information from California consumers to post a conspicuous privacy policy on its website stating exactly the information being collected and those individuals or companies with whom it is being shared. - See more at: http://consumercal.org/california-online-privacy-protection-act-caloppa/#sthash.0FdRbT51.dpuf

According to CalOPPA, we agree to the following:
Users can visit our site anonymously.
Once this privacy policy is created, we will add a link to it on our home page or as a minimum, on the first significant page after entering our website.
Our Privacy Policy link includes the word 'Privacy' and can easily be found on the page specified above.

You will be notified of any Privacy Policy changes:
       On our Privacy Policy Page
Can change your personal information:
       By emailing us
       By logging in to your account

How does our site handle Do Not Track signals?
We honor Do Not Track signals and Do Not Track, plant cookies, or use advertising when a Do Not Track (DNT) browser mechanism is in place.

Does our site allow third-party behavioral tracking?
It's also important to note that we do not allow third-party behavioral tracking

 

COPPA (Children Online Privacy Protection Act)

 

When it comes to the collection of personal information from children under the age of 13 years old, the Children's Online Privacy Protection Act (COPPA) puts parents in control. The Federal Trade Commission, United States' consumer protection agency, enforces the COPPA Rule, which spells out what operators of websites and online services must do to protect children's privacy and safety online.
We do not specifically market to children under the age of 13 years old.

 

Fair Information Practices

 

The Fair Information Practices Principles form the backbone of privacy law in the United States and the concepts they include have played a significant role in the development of data protection laws around the globe. Understanding the Fair Information Practice Principles and how they should be implemented is critical to comply with the various privacy laws that protect personal information.
In order to be in line with Fair Information Practices we will take the following responsive action, should a data breach occur:
We will notify you via email
       Within 7 business days

We also agree to the Individual Redress Principle which requires that individuals have the right to legally pursue enforceable rights against data collectors and processors who fail to adhere to the law. This principle requires not only that individuals have enforceable rights against data users, but also that individuals have recourse to courts or government agencies to investigate and/or prosecute non-compliance by data processors.

 

CAN SPAM Act

 

The CAN-SPAM Act is a law that sets the rules for commercial email, establishes requirements for commercial messages, gives recipients the right to have emails stopped from being sent to them, and spells out tough penalties for violations.
We collect your email address in order to:

To be in accordance with CANSPAM, we agree to the following:

If at any time you would like to unsubscribe from receiving future emails, you can email us at This email address is being protected from spambots. You need JavaScript enabled to view it.

and we will promptly remove you from ALL correspondence.

Contacting Us

 

If there are any questions regarding this privacy policy, you may contact us using the information below.
delayedearner.com
This email address is being protected from spambots. You need JavaScript enabled to view it.

If given the following options, which would you choose? Would you rather...

  • offer the federal government an interest-free loan for up to 16 months, or
  • receive an interest-free loan from the government for up to 16 months.

The heart of this choice is played out every year, when individuals choose their allowances on their W4 form which determines how much taxes to defer for federal taxes. Withhold more than you owe - you will get a tax refund. Withhold less than you owe - you will have to pay the amount owed. Every year when it comes time to file taxes, I like to ask people whether they owe taxes or are receiving a tax refund. It seems a majority receive a tax refund, and are very happy about it at that! I get it. I get the psychological win, but anyone can set up their withholdings in such a way to receive a tax refund, and in some cases a huge one. But is that the way to go? I do not believe so.

Monday, 12 June 2017 12:54

Disclaimer

I have a bachelors in science in chemical engineering and a medical degree.  That is it.  I have no license or certification in personal finance, law, tax accounting.  The advice I provide is from personal experience and from a lot of reading.  I am not responsible for any harm that may come to you as a result of you applying my advice.  

 

That being said, I will attempt to be transparent with the information I provide.  If, however, you need personalized and professional advice, I recommend you seek out a professional in that area of expertise.

 

Jerry Hsieh, M.D.

Prior to starting internship and residency, I knew that I had a shortened time frame of 6 months in which to contribute to my 403(b)/401(k), since I would only start earning a salary around July 1 of that year. I also knew that residency would likely be the only time in my career that I would be able to contribute to a Roth IRA (other than the backdoor Roth IRA that I later learned about) and so I definitely wanted to max that out as well. The only problem with such lofty goals is where the money would come from.

 

In 2011, when I started residency, the annual contribution limit to my 403(b) was $16,500, and the Roth IRA contribution limit was $5,000. You have until the end of the calendar year to contribute to the 403(b), whereas you have until April 15 of the following year to contribute to the Roth IRA (e.g. you have until 4/15/18 to contribute to 2017's Roth IRA). I wanted to contribute as much to my 403(b) as possible in this short time, with a limited salary. My gross salary for the year was approximately $25k, and I wanted to put $16.5k into my 403(b). That left a gross income of $7.5k, or approximately $6k after tax to live off of for six months. How can one live off of $6k for 6 months with a rent of close $925 a month? Turns out, it is really freaking hard.

From a taxation perspective, starting residency is no different from starting any other salaried employment. What is pretty much a universal truth about residency is that they all start on or around July 1. Anyone who is starting employment in the middle of the calendar year can apply what I discuss below to their situation.

I am writing this article because I want to provide a framework for thinking about federal taxes and how to estimate the amount you will owe. The W4 form instructs your employer to automatically withhold a certain amount of money from your paycheck each pay period. Your goal should be to have your total combined withholdings match your tax liability for the year as closely as possible, unless you are very financially disciplined. More on that in another post about owing vs. receiving money when you file federal taxes.

Friday, 09 June 2017 11:48

Welcome to DelayedEarner.com

Welcome to my blog, DelayedEarner.com! What is a Delayed Earner, you might ask? Well, in a nutshell, that's me. Allow me to explain. My name is Jerry Hsieh, and I am a physician. I am finishing my fellowship in Pulmonary and Critical Care Medicine, and finally going out into the world to practice independently. Why do I call myself a Delayed Earner? Well, anyone who is familiar with the path of becoming a physician could probably tell you.

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