Management fees can take a big bite out of your investments. $100,000 invested for 20 years at 8% will yield $470,000. With a 2% management fee, the investment shrinks to $325,000, a drop of $145,000 or 30% of the portfolio. You are basically … [Read more...]
Just for Dentists Newsletters
7
Jan, 2020 How Much Retirement Income Do You Actually Need?
January 7, 2020 by
In order to provide the best possible advice to clients, a financial planner needs to determine the following: What is the correct asset allocation for each client? How much income can a client safely withdraw to ensure investments do not run … [Read more...]
7
Jan, 2020 Practice Survey: Production is Top Concern
January 7, 2020 by
According to last year’s large-scale annual survey of dental practices by the Levin Group, increasing production remains the top priority of dentists surveyed. Most practitioners appear to be successfully growing their practices. In 2019, the … [Read more...]
7
Jan, 2020 Tax Changes Becoming Effective January 1, 2020
January 7, 2020 by
As part of the federal tax changes which came into effect January 1, 2020, there is an increase in the basic personal which is being phased in over four years until it reaches $15,000 in 2023. For 2020 the exemption amount increased to $13,229 … [Read more...]
23
Dec, 2019 Critical Illness Insurance – It’s Worth Another Look
December 23, 2019 by
You have good practice income, and you are well covered by life - and disability insurance. Any additional insurance does not seem necessary. Take a look at Critical Illness (CI) insurance. Once you learn more about it, the benefits become more … [Read more...]
23
Dec, 2019 Exponential Growth: Tips for Success in a Saturated Market
December 23, 2019 by
Three years ago, Arnaldo Lopez left his associateship to start a brand-new practice from scratch in the most dentally saturated area of Miami-Dade county. He started with zero patients but now three years later he sees about 100 patients per … [Read more...]
10
Dec, 2019 Being Charitable Costs Less Than You Think
December 10, 2019 by
Making a donation before December 31, 2019 not only benefits your favourite charity but also reduces your income taxes. The amount of tax savings depend on whether you make a cash donation or a gift of assets, including the securities, artwork or … [Read more...]
10
Dec, 2019 Making Your Home Mortgage Tax Deductible
December 10, 2019 by
To minimize the after-tax cost of the mortgage payment, consider the following scenarios to deduct the mortgage interest for tax purposes. The sale and buy back You own personally investments worth $300,000. You sell the investment and use the … [Read more...]
24
Nov, 2019 Dentists Should Consider These Year-End Tax Saving Tips
November 24, 2019 by
As we approach the year-end, there is no better time than now to compile your checklist of tax saving strategies to reduce your income tax bill for 2019. Reduce tax on shareholder draws If you took large draws from your corporation, which … [Read more...]
24
Nov, 2019 Top 7 Financial Mistakes Dentists Make (And How to Avoid Them)
November 24, 2019 by
Dr. James Dahle is the author of the popular financial guide “White Coat Investor”. In one of his blogs he lists the big mistakes medical - and dental professionals make in handling their finances. Poor debt management This one begins when many … [Read more...]
