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Health Savings Accounts (HSA) have gained popularity as a way to compensate for higher deductibles and out-of-pocket expenses related to Medical Insurance.  Think of an HSA as a medical savings account.  Your contributions are tax deductible, grow tax deferred, and come out tax-free when used for eligible medical expenses. 

Most dentists we work with took advantage of the first round of Paycheck Protection Program (PPP) loans and HHS funding, and many are now looking at PPP Part 2 and Employee Retention Tax Credits to help make up for lost revenue and increased expenses due to COVID-19.  A new relief bill was signed at the end of 2020 that can provide additional funds to practices still af

There are a number of dates to be aware of on the way to retirement.  Deadlines are triggered by various ages, from age 50, when you can start making catch-up contributions to retirement plans, through age 72 when Required Minimum Distributions begin.  Download our PDF with 14 retirement-related milesto

Ask just about anyone about their financial planning and what they would have done differently, and they’ll answer “I wish I would have started saving sooner”.  As parents we’re in a position of being able to keep our kids from having that same regret. 

There are many types of trusts, and just as many ways to use them.  Most commonly, they are used to control (or allow for someone to control) assets after a person dies. They can also be used to shelter money from estate taxes, avoid probate, segregate money for special uses and needs, and to protect money from creditors, lawsuits and divorce.

Making IRA contributions is more complicated than it used to be; there are traditional, non-deductible and Roth IRAs, and each has different income thresholds for eligibility along with rules about whether you or your spouse have retirement plans at work.  However, if you don’t qualify to make a contribution directly, with a couple of extra steps, you can make what is called a &ldquo

This year has sparked a lot of conversation about insurance.  COVID brought the prospect of death to the forefront for some, and many had a temporary loss of income which gave them a glimpse of what life might look like without a paycheck. These are good motivators for checking both your life and disability insurance policies to make sure you have the right coverage. 

With the increase of the Standard Deduction, many clients found that they weren’t itemizing anymore, and discovered they were missing out on the tax benefits of making charitable contributions.  Charitable Stacking is a way to fix that.  

Buying a dental practice can be a lot to take on; the new practice owner suddenly has the responsibilities of running the practice stacked on top of doing great dentistry.  The financial realities quickly become an important priority in your practice and personal life. 

A common question I hear is “when can I stop working?”  Not that the client necessarily wants to stop working, they just want to know that they can stop.  That would be my definition of financial independence; knowing that your investments or other income is enough to support your lifestyle, independent of your work.