MoneyRx for CRNAs and NPs
Go behind the scenes with host Brett Fellows, CFP®, as he explores the unique financial opportunities and challenges facing Certified Registered Nurse Anesthetists and Nurse Practitioners on the path to financial independence. Each episode delivers expert insights and actionable advice to help you lower taxes, invest smarter, and retire on your terms.
Brett's firm, Oak Capital Advisors, specializes in high-earning CRNAs and nurse practitioners and is currently accepting new clients. From retirement income strategy and tax planning to Social Security timing, Medicare, and estate planning, they offer comprehensive financial planning that goes far beyond investment management. If you're ready to work with someone who truly gets your world, the link to schedule a discovery meeting is in the show notes.
MoneyRx for CRNAs and NPs
Amanda Kay on One Full Year of 1099: What She Got Wrong, What Changed Everything
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A year ago, Amanda Kelly jumped into full 1099 independence with income goals, an S-corp, and many unknowns. Now she’s back.
In this episode, Brett Fellows, CFP®, sits down with Amanda Kelly, CRNA, coach, and founder of The Mindful CRNA, to hear what happened once the theory met real life. They talk through the financial surprises that came with running an S-corp, why most CRNAs leave money on the table at tax time, how the independent market has shifted heading into 2026, and what Amanda learned from a 30-minute tax return walkthrough with Brett that changed how she thinks about her money entirely.
They Cover:
- The honest financial case for going 1099 in your 40s or 50s
- Why salary vs. distributions inside an S-corp matters more than most CRNAs realize
- What CRNAs consistently get wrong with deductions and bookkeeping
- How the 1099 market has shifted since 2024 and what to expect going forward
- Running a side coaching business, and when to spin up a second LLC
- The tax return review that made her numbers finally make sense
- Baby Roths, HSAs, and what a "money machine" looks like in practice
- Three financial moves she would tell every new CRNA to make first
#CRNAs #1099CRNA #TaxPlanning #FinancialPlanning #MoneyRx
Key Timestamps:
(0:18) Return of guest Amanda Kay to review her first year of independent contracting
(1:43) Simple bookkeeping and revenue tracking methods using basic apps
(2:56) Psychological adjustments when transitioning away from W-2 employment
(4:40) Spousal communication strategies for managing variable monthly income
(6:50) Common first-year errors with S corp compliance and deductions
(10:53) Tax efficiency benefits of prioritizing business distributions over salary
(13:40) Proactive recordkeeping habits to easily track business expenses
(15:56) Evaluating the financial case for switching to 1099 contracting
(18:40) Choosing the right entity structures when managing multiple income streams
(19:58) Projected overhead costs and platform fees for digital courses
(27:13) Navigating anesthesia market shifts and establishing cancellation policies
(30:04) Protecting income through continuous clinical skill diversification
For more information and resources related to this episode, please visit the show notes.