As of 3/31/19, there were 73,554 unique applications for Public Service Loan Forgiveness (PSLF). Can you guess how many of those were approved?
How to Improve Your Retirement Plan Choices with an SDBA
If you work for one of the 40% of employers that offer a self-directed brokerage account (SDBA) within their 401k plan, then you have access to what I believe is one of the best “secret” benefits of your retirement account. What is an SDBA and how can it apply to you? Continue reading
We are continually reviewing tax returns for prospective clients (and even for doc’s who occasionally reach out to me from the forum). Whether you are preparing your own tax return or using an outside preparer, it never hurts to have a second set of eyes take a look at it. But, since you may not have the luxury of having a family member who is a CPA, I’ve come up with a list of 10 easily-missed areas you should check on your own tax return: Continue reading
One of the most common questions we receive from solo business owners (doctors who either moonlight, have a side business, or are starting a business) is: which entity should I choose? Let’s look at the three most popular choices: Continue reading
In this month’s video, I explained what types of business meals are deductible. Since meals can be frequent and for small dollar amounts, I get more questions about tracking these receipts than any other expense. In the case of travel meals, an IRS rule allows you to throw those receipts all away. Instead of tracking and deducting each specific expense, you can deduct a per diem rate for your travel meals. Continue reading
It happens every year:
- Doctor is being paid by 1099 for extra shift work or locums.
- Doctor is covered for retirement at her day job – doesn’t know a 2nd plan may be an option.
- Doctor is looking for ways to reduce her income while filing her taxes.
- Doctor finds White Coat Investor – in July!
If a similar situation has happened to you, don’t despair! You can still fund a solo-k via the back door.
Here’s how: Continue reading
Whenever you do work for a company as an independent contractor, they should ask you to fill out a W-9. This document is used by the company to file 1099s for individuals and non-corporate entities to whom they have paid more than $600 in a calendar year. Independent contractor services include but are not limited to Continue reading
We searched our Vlog archives to unearth some hidden treasures. In this oldie but goodie, Johanna shares her personal success story on raising her sons to be financially independent.
It hasn’t all been success, though. In this video, Johanna refers to the post Money Mistakes I’ve Made, where she bares her soul to show that we all have a “history”.
If you’re interested in scheduling a free initial consult with us, click here (do not use the link listed in the video).
With the costs of college and other post-secondary education continually rising, clients often ask about effective methods of planning for their children’s future education costs.
Though there are several methods of planning for future education costs, one popular technique is to use a 529 plan. Continue reading