About the author
Jay Malik is a Tax Strategist and Wealth Manager. He is an author and renowned speaker who specializes in the financial needs of physicians and surgeons. He works with doctors to help them keep more of what they make by reducing their tax burden. He develops and implements proactive individualized tax strategies and financial plans to increase the net wealth of his clients.
Jay’s average client saves nearly $13,000 in tax the first year that they work with him. This is achieved by employing advanced tax planning processes and implementing creative techniques that take advantage of the latest court cases and IRS rulings.
Jay analyzes doctors’ tax returns to diagnose missed tax opportunities and prepares an estimate of the tax they has overpaid in the past. He then proceeds to create a detailed tax strategy, prescribing specific actionable steps to capture tax saving opportunities. These are perfectly legal, available in the tax code, and are simply under-used by those with less expertise than Jay possesses. He uses plain language to outline and explain these plans to his clients. His individualized recommendations have proven effective for countless doctors, many of whom indicate outright astonishment at the results.
Managing a full-service accounting firm, Doctors Finance LLC, Jay works with doctors to implement their tax strategies on an ongoing basis. As the tax laws change from year to year so do the tax plans. His firm handles all tax filing and compliance requirements and takes care of bookkeeping and payroll processing as well.
Jay has successfully coached many doctors out of difficult financial situations, including high debt, consequences of bad investment s, divorces, and dissolutions of partnerships. Specializing in working with medical professionals, he is in tune with the culture and working conditions of doctors and accommodates the restrictions involved in working with them.
As a specialist, Jay keeps abreast of the ever-changing legal and regulatory tax requirements which affect doctors and their practices and uses this knowledge to make huge difference in the financial lives of doctors. Jay lives, breathes and eats medical tax preparation and planning, and knows more about the hidden tax deductions and tax loopholes than anyone else in the US.
Because Jay has been actively working with doctors for such a long period, he has observed first-hand the evolution of the medical professional over the years and understands how changes in the business have affected doctors. He is committed to making a difference in the quality of life of all medical professionals by increasing their bottom line.
Jay is so committed to what he does that he does not charge a fee for the initial analysis he performs when working with a new client. All his doctor clients end up saving more money in taxes legally by use of his proactive individualized tax planning techniques than they pay in his fee.
Jay thinks out of the box, and is often critical of the accounting profession which lacks creativity to serve its doctor clients. He believes that most accountants just use tax law to make money for themselves and not to save tax dollars for their doctor clients. He is quoted in CNNMoney as saying, "Whenever Congress passes a new law, they should call it an Accountant Employment Act. It increases work for accountants."
Jay is an Enrolled Agent (EA), admitted to practice before the IRS. He is an Accredited Business Accountant (ABA) and a fellow of the National Tax Practice Institute (NTPI). He is also a Certified Tax Coach (CTC). Jay has decades of experience working with small businesses. He represents taxpayers before the IRS to ensure that they are treated fairly and pay their full legal obligations – but not one cent more.