Last week I explained some of the rules and tax smart tips you need for hiring your children to work with you in your business. As I discussed on page 32 of my book The Doctors Guide to Real Estate Investing for Busy Professionals, you should be hiring your children to work in a business … Read more
(Time is running out to pre-order The Doctors Guide to Navigating a Financial Crisis, which comes out next Tuesday.) I have had several people ask me what must be done to hire their children and set them up with a Roth IRA from the money they earn. This question arose from page 32 of my … Read more
Every week I run into a few articles that I feel are especially valuable, so each Monday I plan to share some of the best with you, my readers. I hope you find them helpful. This week’s favorites include six keys to physicians coming out of retirement to help with this crisis, 30 ways to … Read more
People often complain that their tax refund is smaller this year than last year. A smaller tax refund is not something to complain about, it’s a win! You don’t ever want to have a tax refund. Any time you get a tax refund, it means you made an interest free loan to the government. Why … Read more
Every week I run into a few articles that I feel are especially valuable, so each Monday I plan to share some of the best with you, my readers. I hope you find them helpful. This week’s favorites include the tax planning window in your 60s, common mistakes with estate planning, ways to minimize your … Read more
In my recent book, The Doctors Guide to Real Estate Investing for Busy Professionals, I give a detailed explanation about how I was able to buy investment property with no money down. Questions came up about what is the optimum down payment for an investment property. Since my goal in acquiring property was to put it into my portfolio for the least acquisition cost, I didn’t calculate its optimal down … Read more
It’s a Business There are huge tax advantages to owning a business, and doctors today are losing those advantages as medicine transitions to an employment model. By starting a real estate business, you can get back some of those lost advantages that employees do not enjoy. Owning a single rental property means you have a … Read more
As physicians, we find ourselves in higher tax brackets than the majority of Americans. With the graduated tax system here in the US, the more we make, the higher the percentage of taxes we owe. That is not just because of the tax brackets, but also because many tax write offs are phased out as … Read more
