Sometimes setting up a trust is not a good idea. In other words, you can’t always trust a trust. Michelle articulates SEVEN reasons you might want to find a non-trust solution in this month’s Vlog.
How to Save Taxes with an S-corporation
One of the most frequently-asked questions from physicians with IC income is, “Do I need to set up an s-corporation?” Answer: It depends. In this post, let’s examine how an S-corp. works and exactly what this choice “depends” on. Continue reading
How to set up your new business
I recently posted an article about selecting the best entity for your side gig or new practice. After you’ve made the decision to be either a Sole Proprietor, LLC, or S-corporation, the next step is to actually register and set up your entity with local, state, and federal tax agencies. Is it time to see an attorney or is this a DIY project you can tackle yourself? Continue reading
Disability Income Insurance Contracts 101
[Editor’s Note: This is a guest post from Scott Nelson-Archer, CLU, ChFC, owner of MD Financial Services, Inc. His firm specializes in disability insurance for physicians including “Own Specialty” . I received no payment for this post and like all guest posts, was judged on value of content alone] Continue reading
What Business Entity Should I Choose?
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
Is Group Disability Insurance Enough? [VIDEO]
If your employer has a good group disability policy, are you wasting your hard-earned money if you buy an individual Own Occupation policy? Michelle has the answer Continue reading
How Much Do You Know About Taxes?
Tax day 2016 is tomorrow (4/18/17). Before you file your return, perhaps you should check your knowledge of the tax code (with a bit of state trivia thrown in). Are the below statements True or Continue reading
Is your advisor Fee-Only? [VIDEO]
Fee-Only, Fee-Based, and Financial Advisor are words often thrown around together, but each term has its own Continue reading
How Much Do You Know About Taxes? [ANSWERS]
True or False – no Googling, please! Continue reading
Explaining Backdoor Roth IRAs
Tax season always seems to have one special issue du jour. This year it is backdoor Roth IRAs, especially on the White Coat Investor forum. As a result, I’ve decided to devote our March newsletter to Roth IRAs and this particular post to backdoor Roth’s, the confusing loophole in the tax law Continue reading
