Free
Whitepaper
for
Surgeons, physicians, dentists, attorneys and CPAs
The Surgeon's Ledger
How IRC Section 263(c) converts drilling costs into active-income deductions, and the at-risk and AMT limits that define them.
What you’ll learn
- Why surgeons' active income is so hard to shelter
- How Sections 263(c) and 469(c)(3) work together
- The limits: at-risk rules and the AMT preference
- Seven questions to bring to your CPA
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A clear read, built for how high earners are paid
Contents
- Executive Summary Why active professional income needs a different kind of offset
- Why the Issue Matters The limits of 401(k) and IRA planning at this income level
- Foundational Concepts Intangible vs. tangible drilling costs and the Section 263(c) election
- The IDC Deduction in Detail Project-specific IDC ranges, Section 469(c)(3) and entity form
- Limitations and Boundaries At-risk rules, the AMT preference and percentage depletion
- Market Context Why domestic drilling remains active
- Four Structural Questions Entity structure, AFE breakdown, at-risk and AMT, ongoing participation
- Questions for Professional Advisors Seven questions to bring to your CPA or tax attorney
- Summary and Next Steps The statutory pathway and where to go from here
Written for
- Surgeons and physicians Earning active income through W-2, 1099 or K-1 compensation
- Dentists and practice owners Distributing practice profit to themselves as owners
- Attorneys and law firm partners Receiving K-1 income from a professional partnership
- CPAs and tax advisers Reviewing the structure alongside a client
Is the guide really free?
Yes. There is no cost and no obligation. The PDF arrives by email, and you can download it straight away.
Is this tax advice?
No. The guide explains general federal tax rules for educational purposes. Your CPA should apply them to your own situation, and the guide includes the questions to bring to that conversation.
Do I need to be accredited to read it?
No. Anyone can read the guide. Participation in a Summit Ventures joint venture is limited to accredited individuals and entities, and status is verified before any commitment.
Will someone contact me?
We may send related resources and invitations to upcoming sessions, and you can unsubscribe at any time. A call only happens if you request one.
