Entries by David Auer

When Naming a Relative as Successor, Business Comes First

Handing the reins to a family member requires in-depth planning, skill development, and a smart tax strategy Our previous blog highlighted how almost 12 million businesses will transition ownership in the next 15 years; a process involving $10 trillion worth of assets. And family-owned businesses make up a significant portion of organizations that will be […]

Business Exit Planning Using the Value Builder System

100 percent of people eventually leave their business. A good exit strategy allows owners to turn a good thing into a better one by protecting assets, building value, and striking the best deal Entrepreneurs want their business to grow and thrive, and an increasing number also want to sell. Last year saw a record number […]

Doctors: Is Your Physician Group Causing You to Pay Higher Taxes?

Classifying doctors as employees can significantly increase their tax burden An increasing number of doctors are banding together to form medical “super groups” and the benefits can be significant: economies of scale, greater leverage in negotiations with insurance companies and large hospitals, administrative support that leaves doctors free to focus on patient care, and a […]

Tips for Maintaining Medical Practice Profitability

Expand with novel services. Connect with new patients. How to build revenue when burdened with rising operating costs and changes in the healthcare system As deductibles rise, medical practices can see big losses. Some patients can no longer afford medical bills, leading them to avoid seeking treatment when they should. Or, many will simply seek […]

What’s the Magic Number a Doctor Needs to Retire?

Doctors can get burned out fast, and early retirement grows more and more appealing. How do you know when you have enough saved to maintain your lifestyle? The thought of early retirement is appealing to most doctors, who are often overworked and exhausted. But how do you know how much money you’ll need when the […]

Financial Strategies Every Mid-Career Doctor Should Consider

As your career hits its stride, taking these 8 steps is key to keeping your financial goals on track If you’re a doctor who’s starting your career or approaching retirement, the amount of financial advice that’s aimed at you is overwhelming. But the mid-career physician – mainly in their 40s to early 50s – is […]

A Doctor’s Guide to Estate Planning

Learn how to create and structure an estate plan specific to physicians A good and specific estate plan is especially crucial if you’re a doctor, for a few different reasons. As a physician, not only do you need to consider protecting your often-larger estate but you also need to ensure your medical practice is protected […]

The TCJA is in Full Effect: How Physicians Can Keep More Money

The new tax law made it easier for many doctors to pay less, but not everyone will benefit. From charity to children, here are the decisions which could affect how much income doctors retain in 2019 Doctors are frequently exhausted by their duties and find focusing on their taxes difficult – and MD Magazine highlighted […]