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A disadvantage I see to having the higher salary is that you pay SS & Medicare tax on salary. Can't get those taxes back.

One additional thing to consider. The original poster mentioned negotiation on a physician's position; it's likely that the physician gets compensation well in excess of the FICA and SECA "wage base."

The amount of earnings subject to taxation under FICA and SECA wage base is $94,200 for 2006. Earnings in excess of $94,200 are not subject to those taxes.

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