The Downsides of an S Corporation
[Editor's Note: This is a guest post from W. Devin Wolf, CFP®. a financial adviser in Washington State. I have written before about incorporating. There are both pluses and minuses to doing so. This p...
[Editor's Note: This is a guest post from W. Devin Wolf, CFP®. a financial adviser in Washington State. I have written before about incorporating. There are both pluses and minuses to doing so. This p...
This post is a bit of a rant that developed in my mind as I prepared myself to move onto a PPACA-compliant health insurance plan this year. I also have the wonderful blessing of a dramatically increas...
[Editor's Note: This is a guest post by Glenn Frank CPA/PFS, M.S. Taxation, who is a fee-only financial advisor with Frank Advising and the director of investment strategy at Lexington Wealth Manageme...
You need a basic understanding of the tax code. Personal finance for doctors is exactly like personal finance for everybody else. What is deductible for residents is exactly what is deductible for attendings is exactly what is deductible for everyone else.
[Editor's Note: This is a guest post from a physician and regular reader named Alex, who wanted to share some of his insights regarding the deduction of vehicle expenses. At any rate, it's a good pos...
By Dr. James M. Dahle, WCI Founder The vast majority of good information out there about FLPs is written by those who are paid to create them (asset protection and estate planning attorneys) so as you...
Your children can help you lower your tax bill. Don't be afraid to take advantage by hiring them and gifting them money in a UGMA/UTMA.
By Dr. James M. Dahle, WCI Founder I finished my taxes for the year. It seems I become "less successful" at keeping my taxes low each year. It's true what they say- the only thing worse than paying...
Nearly every educated financial advisor agrees that tax diversification is a great idea when planning for your distributions in retirement. Tax diversification means having some of your assets in tax...
An individual retirement ANNUITY is the ideal way to hold a SPIA purchased with tax-deferred money. You avoid a big tax bill and complex calculations.
The Federal Thrift Savings Plan (TSP) is the “401K” for military and other federally employed physicians. It is a great retirement plan, with minimal expenses (2-3 basis points total), and 5 great in...
Depreciation allows you to defer taxes for decades, or maybe all together.
[Editor's Note: This is a guest post from Jayson Mullin, a partner at a tax debt resolution company called Top Tax Defenders. We have no financial relationship.] As with other professions, tax deduc...
It's straightforward to get out of an investment in stocks but not so easy or straightforward when it comes to real estate. If you own real estate and REALLY need to get out, here are 7 ways to make it happen.
[Editor's Note: This is a guest post from Bill Pacquin, who describes himself as a patient care advocate and the CEO of a healthcare publisher called Vertical Health which produces Spine Universe and...