When I retired, one of the dreads I faced was the need to pay quarterly taxes. After I retired from my medical practice and was a locum tenens doctor working through my private corporation receiving a 1099 each year, I had to file quarterly payroll taxes, even though I had no employees. I do understand … Read more
The Backdoor Roth IRA has become all the rage in the last few years. Almost every physician financial blogger is writing about how to get around the income limits imposed by the Roth IRA rules. This clever work around is called the Backdoor Roth IRA. But congress is contemplating ending the rules that make this … Read more
Most people who are saving for retirement are familiar with the 4% rule. According to this rule, proposed by William P. Bengen in 1994, and later confirmed by Trinity University in 1998, you can withdraw 4% of your retirement assets the first year of retirement and then increase your withdrawal for inflation each year thereafter. … Read more
