I finally finished analyzing our profession-specific salary survey we did a few weeks ago.

New Salary Reports

We have data for physicians, dentists, vets, PTs, PAs, speech language pathologists, podiatrists, CRNAs, RNs, NPs, pharmacists, psychologists, and chiropractors.

Here's the survey download. You're getting this because you're a valued SLP Insiders or SLP Wealth member :)

Let me know what you think of it / how we could make it even more interesting next time we do the survey.

I've got a second download for you.

New state and local tax deduction savings calculator

We are still working through all the implications of the recently passed OBBB Act that Congress passed, and one of the things we noticed is that the state and local tax deduction jumps up from $10,000 to $40,000 starting this year.

I made a calculator so you can model if this might save you money.

I expect most households earning over $200,000 but less than $600,000 will see some significant savings from this change.

Why? Many folks with 3% mortgages in the past have just taken the standard deduction because they haven't had enough to itemize when the state and local tax deduction (acronym for this is SALT) was limited to $10,000, as it was in 2024.

But this larger SALT deduction cap is going to push a bunch of people into the itemizing range where every deduction you find could save you money if you're no longer doing standard deduction.

But the higher deduction limit is phased out once you're at 600k+ of income, and there are other limits on this higher deduction that could impact folks doing married filing separately.

So this is definitely something that will keep us busy this year. If you happen to be a SLP Wealth tax client, we'll certainly be keeping an eye on this for you. And if you're not a SLP Wealth tax client, we will let you know if we have any spots available for this upcoming tax season hopefully within a few weeks in case you're interested.

IDR denials and PSLF restrictions

We're following a couple student loan stories this week.

Dept of Ed is refusing to process IDR applications where borrowers say "put me on the cheapest plan."

The TLDR on that is just that you'll have to specifically state what plan you want on applications in the future.

I think they're basically playing a language game where they don't want anyone thinking that the cheapest payment amount is a win.

If you're going for forgiveness, that's exactly what you want is the cheapest payment amount. So in the future, you're just going to have to specify (IBR, PAYE, RAP, etc.) instead of letting them pick for you.

There's also some info about PSLF restrictions that could be coming down the pipeline.

I don't think we will see healthcare organizations targeted by this. I think it'll be mostly groups like immigration non-profits and advocacy groups.

If I had to put a number on it, I would guess 95%-99% of PSLF borrowers will be unaffected by this, and something like 1%-5% would be impacted.

But any restriction like this is going to end up in the courts because there's nothing in the law about being able to limit the PSLF eligibility of employers.

That's all for this week. Let me know again if you have thoughts on the two excel sheets above :)

Travis