Year-End Tax-Scams Targeting Doctors and Business Owners

TAX FRAUD

 The year-end planning rush so familiar to physicians has many pitfalls including a variety of serious tax scams. Some scams covertly target you externally, while others are actually brought to doctors and business owners by their own would-be advisors; today we provide some red flags to look out for on both fronts. This is part […]

Year-End Tax Plan Sales Targeting Doctors, Business Owners

Year End Sales Hustle

The last quarter of the year is historically an active time for physicians and business owners and their tax, legal and financial advisors. Given increased regulatory issues, I.R.S. scrutiny and increased fraud, it’s vital that you do some basic due diligence before you pull out your checkbook. Doctors are heavily solicited for a variety of tax and […]

Income Tax Deductions Doctors and Business Owners Often Overlook

CPA TJ CASEY

As tax day bears down on us with increasing momentum, I turned to a CPA for some tips on commonly overlooked deductions. As always, legal and tax advice given in this forum can only be general information and can never be considered individual tax advice, so discuss these issues with your own CPA now, while […]

The “C” Word in business: Vital Issues To Consider With C-Corporations

TAXES

The article linked below contains some simple and important issues to consider regarding the taxation of C-corps. As an asset protection attorney I’ve never been a fan of them because they are weak , if not defective from a creditor perspective as the shares can actually be taken from you as an asset and handed […]

Is a Captive Insurance Company a Fit for Your Business or Medical Practice?

BUSINESS AND MEDICAL PRACTICE OWNER LAIBILITY

In our two previous discussions we introduced the general concept of a captive insurance company (captive) as well as specific qualifying questions to help doctors pick a good captive administrator. This week we examine some key issues that can help determine if your specific medical practice is at the point where a captive may create […]

Income Tax Deductions Professional Athletes and Their Managers Must Know About

TAX & LEGAL Planning for Pro athletes

Professional atheletes are great at making money but often lack the support and guidance they need to effectivelty keep it. Some Asset Protection issues address active threats, like lawsuits, others address more passive and predictable issues like income and estate taxes. This article provides a simple summary of taxation issues that professional athletes, their managers […]

Short Sale Time Bomb Affects all Buyers and sellers as Mortgage Debt Relief Act Expires – 2012

HOME EQUITY LOSS

Asset Protection is increasingly broadening in what people want from it, it’s not just about litigation and must include an analysis of ALL risks to our clients’ wealth including those posed by debt, investments, taxes, insurance gaps and most notably over the last 5 years, real estate. Below, Realtor Alex Goldstein, who has helped many navigate […]

Tax Planing Schemes Every Physician (and Business Owner) Should Avoid

law and money for doctors

The next 60 days marks the final push to sell physicians and private business owners across the United States tax plans of both good and questionable value. Promoters of various plans are well aware of the pressures affecting your income and will make a variety of frivolous arguments that appeal to your desire to save. As […]

Why Having A GREAT C.P.A. is More Important to Your Practice Than Ever

ASSET PROTECTION UPDATE: Why Top C.P.A. Help is a More Important Part of a Medical Practice (and Every Other Business) Team than Ever Before  I’ve always taught that Asset Protection goes beyond just legal planning and must include insurance, accounting and financial planning expertise to implement a truly protective and holistic plan. Given the economy […]

PROFIT RETENTION STRATEGIES FOR MEDICAL PRACTICES –

Guest Author, Attorney Trisha Lotzer

  IT’S NOT JUST WHAT YOU MAKE; IT’S ALSO WHAT YOU KEEP.  With the economic impact of the new healthcare laws and the President’s final 2011 budget uncertain, practice owners and managers would be well served to focus their attention at this time on profit retention strategies. The thousands of doctors we serve are facing […]