Seasonal Tax Scams Target Doctors

By Ike Devji, J.D. September starts the annual income tax fraud sales season.  As doctors are aggressively pursued with a variety of tax savings plans that make big promises, knowing what you are buying and who you are dealing with is vital. Many physicians and business owners will be solicited to engage in some kind […]

Asset Protection Basics for Doctors: Interview

Asset Protection attorney Ike Devji helps protect thousands of doctors nationally and is a frequent CME presenter and author on this area of the law. Here is his first interview with “Doctor Money Matters” a national podcast dealing with personal finance issues for physicians, hosted by Dr. Tarang Patel.

More Self Defense for Captive Insurance Company Owners

Captive insurance companies may be ticking times bombs of legal and financial liability for their owners. Captive owners must act quickly, be educated about specific risks and be well represented by counsel. I previously provided specific examples of the abusive fact patterns that have drawn the ire of the I.R.S. and a list of red flags […]

Captive Insurance Companies In Harm’s Way

Captive insurance companies owned by small businesses and doctors are often thinly disguised abusive tax shelters. Their owners and their promoters are currently being harshly examined by the I.R.S. and knowing what to ask, what do and what not to sign will be vital to the financial futures of all involved and can put you […]

Current Threats To Wealth – FEB 2018

Asset Protection for doctors includes financial due diligence and risk management in many forms that go far beyond just medical malpractice. Be aware of these risks as tax season starts in your role as both a physician and a business owner. Tax Related Liability The I.R.S. issues annual guidance on the 12 most prevalent tax […]

Bad Legal Advice on Insurance, LLCs Can Wipe You Out

Business owners, doctors and entrepreneurs are often targeted with asset protection sales pitches from unqualified advisors. Let’s review some of the questionable advice you are getting and how to qualify your advisors. The (not so) Magic Umbrella Policy I was recently contacted by a physician with seven figures in exposed home equity and other significant […]

Protect Your Business or Medical Practice From Internal Fraud

Business and medical practice owners and managers must be aware of internal fraud and embezzlement that often capitalizes on recurring year-end cycles in revenue, spending and inventory and a lack of regular oversight. I covered some of the external fraud scheme you face at year-end in another discussion including a detailed look at invoice fraud.  While I provided […]

Crisis Management: Dealing with Bad Press at Your Business

 Events beyond your control and outside the scope of your business can cause reputational damage and receive media and public attention that can literally shut your business down. Knowing how to handle such an event should be part of your asset protection plan. A previous article examined the different types of crisis plans required to operate any business, especially one that […]

Asset-Protection Basics You Must Understand in 2015

Here are some key conceptual issues about Asset Protection doctors and business owners should understand as we go into a new year: 1. The best medicine, just as in your profession, is prevention, not treatment. Timing is always a key concept from a legal perspective; you may be legally unable to act (fraudulent conveyance, voidable […]

D.E.A. Raid on NFL and Doctors: Opiod Prescription Risks

A recent DEA operation included the surprise search and interview of players and staff including medical staff of several NFL football teams including the Washington Redskins and the Tampa Bay Buccaneers, according to news reports. This investigative action comes on the heels of a lawsuit filed on behalf of former players alleging that NFL doctors […]