EP 348: Stop Overpaying the IRS: Tax Strategies Every Physician Entrepreneur Should Know
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
Release Date: 06/03/2026
EP349: How Doctors Can Use AI to Launch Their First Side Gig This Weekend
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
💰 This episode is sponsored by Gelt: Practice owners and physician entrepreneurs; your business needs a tax strategy, not just tax filing. Most CPAs handle compliance but miss optimization opportunities that could save you tens of thousands of dollars. With Gelt you get a dedicated CPA that focuses on tax strategy for complex financial situations, multiple entities, real estate, practice ownership. Plus a tech platform to streamline everything in one place. Built for physicians who think like entrepreneurs: ——————————— This episode is also...
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EP 348: Stop Overpaying the IRS: Tax Strategies Every Physician Entrepreneur Should Know
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
💰 This episode is sponsored by Gelt: Practice owners and physician entrepreneurs; your business needs a tax strategy, not just tax filing. Most CPAs handle compliance but miss optimization opportunities that could save you tens of thousands of dollars. With Gelt you get a dedicated CPA that focuses on tax strategy for complex financial situations, multiple entities, real estate, practice ownership. Plus a tech platform to streamline everything in one place. Built for physicians who think like entrepreneurs: ——————————— Are you building a...
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EP347 : Stop Prompting, Start Delegating: A Physician’s Guide to AI Agents
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
💰 This episode is sponsored by Gelt: Practice owners and physician entrepreneurs; your business needs a tax strategy, not just tax filing. Most CPAs handle compliance but miss optimization opportunities that could save you tens of thousands of dollars. With Gelt you get a dedicated CPA that focuses on tax strategy for complex financial situations, multiple entities, real estate, practice ownership. Plus a tech platform to streamline everything in one place. Built for physicians who think like entrepreneurs: ——————————— This episode is also...
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EP346: The Physician’s AI Stack: 5 AI Tools Doctors Actually Need in 2026
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
💰 This episode is sponsored by Gelt: Practice owners and physician entrepreneurs; your business needs a tax strategy, not just tax filing. Most CPAs handle compliance but miss optimization opportunities that could save you tens of thousands of dollars. With Gelt you get a dedicated CPA that focuses on tax strategy for complex financial situations, multiple entities, real estate, practice ownership. Plus a tech platform to streamline everything in one place. Built for physicians who think like entrepreneurs: ——————————— This episode is...
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EP345: The Hidden Revenue Leak in Every Medical Practice with Adam Peeler
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
This episode is sponsored by GoTo: If your practice is losing patients to missed calls and front-desk burnout, you're not alone. Most independent practices miss around 30% of incoming calls, that's 30% of your patient pipeline walking to the clinic across the street. GoTo Connect consolidates your phones, patient messaging, video visits, and scheduling into one platform that helps you stay HIPAA-compliant. AI receptionist. EHR integration. No IT team required. Built specifically for physician-owned practices. See how it works: ————————- In this episode...
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EP344: Why Most Doctors Are Using AI Wrong (And What to Do Instead)
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
AI is everywhere, but most physicians are stuck between hype and reality. In this episode of BootstrapMD, Dr. Mike Woo-Ming breaks through the noise surrounding artificial intelligence in medicine. Instead of hype and overwhelm, he shares a practical framework: The 3-Bucket AI Method, to help physicians decide what tools to use now, what to watch, and what to ignore. He also addresses the underlying fear many physicians feel about being replaced, offering a clear and honest perspective, AI won’t replace doctors, but doctors who use AI will outpace those who don’t. This episode is a...
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EP343 : Key Takeaways from the Momentum MD Spring Retreat
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
In this repurposed episode of Bootstrap MD, Dr. Mike Woo-Ming reflects on the Momentum MD Spring Retreat, a powerful gathering of physician entrepreneurs, CEOs, clinic owners, and coaches in Las Vegas. The retreat went beyond business strategies, focusing on connection, clarity, and personal growth. Dr. Woo-Ming shares seven key takeaways, including overcoming universal fears, reframing imposter syndrome, and using the OOCEMR framework to simplify decisions. These insights will help you align your roles as a physician and entrepreneur, foster vulnerability for breakthroughs, and commit to...
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EP342 : 5 Reasons Why Smart Doctors Struggle to Sell
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
Have you ever had someone ready to buy, and somehow talked them out of it? In this candid and practical episode of Bootstrap MD, Dr. Mike Woo-Ming shares a powerful confession from his early days as a physician entrepreneur, losing deal after deal, not because his offer lacked value, but because he approached sales the way he was trained as a doctor. Drawing from years of experience, he breaks down why highly intelligent, capable physicians often struggle with selling, despite having valuable solutions. The issue isn’t competence, it’s conditioning. The same traits that make doctors...
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EP341: If I Had to Rebuild My Physician Brand from Scratch in 2026, Here’s Exactly What I’d Do
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
I spent months building a course that nobody bought. The modules were recorded, the landing page was live, but the launch brought complete silence. That painful failure taught me a valuable lesson: I had built the product first instead of discovering what my audience actually wanted. In this honest and practical episode of Bootstrap MD, Dr. Mike Woo-Ming shares his confession and the exact sequence he would follow if he had to rebuild his physician brand from zero in 2026. He explains why most physician brands stall, being too broad, posting random content with no through-line, and having no...
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EP340 : Get Cash-Pay Clients: How Upfront Labs and Smart Marketing Can Scale Your Health Practice
BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming
Struggling to attract quality patients in a crowded market? Joy Houston shares how practitioners can move beyond free content using upfront lab testing, tiny ticket offers, and smarter algorithm strategies to generate better leads and more profitable programs. On Bootstrap MD, Dr. Mike Woo-Ming sits down with Joy Houston to explain why free webinars and PDFs are no longer converting, and how engaging in DMs, comments, and chats can boost visibility while guiding serious prospects into your CRM. She introduces her “Symptoms plus Science equals Sales” framework and the Upfront Labs model,...
info_outlineđź’° This episode is sponsored by Gelt:
Practice owners and physician entrepreneurs; your business needs a tax strategy, not just tax filing. Most CPAs handle compliance but miss optimization opportunities that could save you tens of thousands of dollars. With Gelt you get a dedicated CPA that focuses on tax strategy for complex financial situations, multiple entities, real estate, practice ownership. Plus a tech platform to streamline everything in one place.
Built for physicians who think like entrepreneurs: joingelt.com
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Are you building a successful medical practice or healthcare business but still feeling blindsided by your tax bill every year?
In this episode of BootstrapMD, Dr. Mike Woo-Ming welcomes CPA Spencer Carroll of Gelt to discuss tax strategies that can help physician entrepreneurs maximize earnings and avoid costly mistakes. Spencer explains how tax planning becomes more complex as practices grow, highlighting key considerations around S corporations, reasonable compensation, and the differences between traditional medical practices and venture-backed healthcare startups.
The conversation dives into practical opportunities and common misconceptions physicians face when managing taxes. Spencer shares insights on hiring spouses and children within a business, owning medical office real estate, and navigating the added complexity of multi-state telemedicine operations. He also explains how tax decisions should align with broader business goals rather than simply focusing on short-term savings.
The episode emphasizes the importance of treating a practice like a true business by separating personal and business finances, maintaining accurate records, and building the right team of advisors. Listeners will learn how proactive tax planning, rather than last-minute tax preparation, can support long-term growth, wealth preservation, and successful future exits.
Three Actionable Takeaways
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Separate business and personal finances completely. Maintain dedicated accounts, accurate bookkeeping, and clean financial records so your CPA can develop effective tax strategies and help you avoid costly compliance issues.
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Review your tax structure as your business grows. Regularly evaluate S-corp compensation, retirement plans, real estate ownership, and other tax-saving opportunities to ensure your strategy evolves with your practice.
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Plan major financial events years in advance. Whether selling a practice, expanding into telemedicine, or bringing on family members, proactive tax planning can significantly reduce future tax burdens and maximize wealth retention.
About the Guest
Spencer Carroll is a CPA, educator, real estate investor, and Account Executive at Gelt, where he works directly with high-income professionals and business owners to optimize tax strategies and long-term financial outcomes. He hosts Gelt’s Tax Talk Unfiltered podcast and has been featured in publications including Yahoo Finance and Fortune. Combining expertise in public accounting with firsthand entrepreneurial experience, Spencer brings a practical, business-owner perspective to tax planning.
Gelt: joingelt.com
Email: Spencer@joingelt.com
About the Show:
Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it’s your guide to building a profitable, fulfilling career.
Tune in weekly at http://bootstrapmd.com
About the Host:
Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He’s built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy.
Let’s Connect: www.https://www.bootstrapmd.com
Want to start a podcast? Check out the Doctor Podcast Network!