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 […]

Guns, Liability and Medical Practice Security

What every medical practice and small business owner must consider about gun violence, personal security, and their own legal liabilities. In the continuing wake of the tragic Parkland and Santa Fe school shootings as well as the most recent nationally reported act of violence against a Scottsdale Arizona Physician*, America is once again examining its relationship […]

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 […]

Employment Manuals Commonly Overlooked in Asset Protection Plans

Medical practices and other businesses of all types face many types of risk outside the strict scope of their professional liability. One major lawsuit risk to business owners and doctors is employment-related lawsuits that must be mitigated with a professionally drafted employment manual. I continually stress that a good asset protection plan has many layers, including management of all reasonably anticipatable risks. […]

Joan Rivers’ Death Puts Liability Spotlight on Outpatient Surgery Centers

Comedienne Joan Rivers went into cardiac arrest while being treated at an ASC, or outpatient surgery center and died a week later after lapsing into a coma. As a result, ASCs are in the media and regulatory spotlight for a variety of legal issues, including doctor referrals, standards of care and how they are run, often not […]

Income Tax Deductions Doctors and Business Owners Often Overlook

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 […]

“Defensive Medicine” is often Good Medicine and “Best Practice” for Doctors

Asset protection for doctors is the main focus of this column (note: this article originally appeared at www.PhysiciansPractice .com, The Nation’s Leading Practice Mgmt. Resource) and we’ve examined it from many angles over the last 100+ articles I’ve shared here. Today, we examine the issue of defensive medicine, much decried by politicians and insurance companies and […]

Asset Protection Trust Jurisdictions For Doctors Part 2: Going Offshore

Last week marked the second chapter of our discussion of asset protection trusts for doctors, with a look some basic issues of jurisdiction, that is, what geographic location’s set of laws control the trust. For those who want a potentially higher degree of security with a longer track record, offshore tools like international asset protection […]

Questions to ask Captive Insurance Provider – Asset Protection – Due Dilligence

We continue last week’s look at captive insurance companies as an asset protection, risk management, and wealth accumulation vehicle for physicians by providing some basic due diligence questions. I am frequently called upon by clients to provide an opinion or sit in on a call or meeting with a prospective captive provider. Sometimes I am […]

Start-Ups: When Does Liability for Your Business or Medical Practice Begin? – Asset Protection

The many discussions we have shared here have largely centered on asset protection and other legal and financial issues faced by physicians and business owners. The bulk of those discussions assumed that you own or run a business or medical practice. Due to the growing availability of financial and legal education resources available to business owners, […]