November 1, 2020

The 4% rule of thumb serves as a guideline to determine a “safe” withdraw rate (SWR) from retirement accounts intended to last a 30-year retirement period.  The premise itself is straightforward – you withdrawn 4% of your total retirement portfolio in the first year of...

March 22, 2020

How to request IDR repayment recalculation do to loss/reduction in income.  This video will provide guidance:

January 5, 2019

Filing your taxes separately in a community property state (CA is 1 of 9 states) might be financially advantageous with a properly developed Income Driven Repayment (IDR) strategy.

A practical approach might be to run through an example.  Let’s assume the following abou...

October 21, 2018

Before I begin the analysis, I think a fundamental question should be asked – “Do I need life insurance?”  My answer is “yes” in 2 circumstances:

  1. I have dependents/others relying on my income, and/or,

  2. When I purchase an asset (i.e., a dental practice) and it’s...

June 22, 2018

Prior to 2018, my recommendation was to be paid as W2 employee because you would not be responsible for up to 7.65% in Social Security and Medicare taxes (that responsibility would be on the employer).  Because of the 2018 Tax Cut and Jobs Act, my position now is 1099...

December 19, 2017

Current tax regulations allow individuals to deduct their state and local income taxes and property taxes (homeowners) if they can itemize their deductions.  The new tax legislation, expected to pass this week, would cap the state & local income tax (referred to as SAL...

December 17, 2017

The GOP tax reform bill is expected to be signed into law by the end of this week, Dec. 22nd.  The Qualified Business Income Deduction (QBID), part of this legislation effective for the 2018 tax year, allows qualifying pass-through entities to reduce their business inc...

November 25, 2017

I’ve developed an IDR calculator that allows you to analyze your unique circumstances(select Calculator tab on menu bar).  I do want to address a few topics that can’t be addressed by a calculator.

  1. My general rule of thumb is you’re a good candidate for an IDR plan...

May 29, 2017

One of the many financial challenges recent grads face is understanding the complexity of tax deductible business expenses. These tax deductible expenses are available to associate dentists paid as 1099 independent contractors (ICs).  You must incur allowable business...

May 4, 2017

As many of you have come to realize, planning and investing for retirement falls squarely on your shoulders.  This is particularly true for dentists as fewer and fewer associate positions, with the possible  exception of corporate dentistry, have any benefits available...

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