In this episode, The IRS Election That Doctors Miss — and How It Costs Them, Shane, Tax Partner at Eide Bailly, breaks down the tax strategies that can significantly impact physician-owned medical practices and real estate holdings. Shane explains how depreciation works for medical buildings, when cost segregation studies can accelerate deductions, and why bonus depreciation is often misunderstood.
He also dives into the critical — and often overlooked — 754 election, outlining how it allows new physician partners to step up their basis and capture valuable depreciation benefits during buy-ins. Shane highlights the timing requirements, the tax implications of buy-outs, and why missed elections can’t be retroactively fixed — potentially costing physicians thousands over time.
If you’re part of a physician-owned practice or navigating partnership transitions, this episode offers practical guidance to help you structure smarter and plan proactively.