The average physician spent $83,620 on federal taxes in 2022, and an additional $12,952 on state taxes, according to Medscape's 2023 "Physicians and Taxes" report, which surveyed over 1,200 physicians across 29 specialties.
Physicians who were married and filing jointly spent $91,681 on federal taxes and $14,211 on state taxes. About 75 percent of physicians reported feeling overtaxed.
A year prior, the average federal tax bill for physicians was $76,117, while the average state bill was $13,108.
The rise in tax cost could be attributed to several factors, including rising physician incomes and the Inflation Reduction Act of 2022, according to the report.