If you had to choose between a gift of $5 million today or one penny that would double in value daily for 31 days, which would you pick? If you chose the compounding penny option, you are the winner. That option would give you $10,737,418 in 31 days. … [Read more...]
Just for Dentists Newsletters
4
Feb, 2020 The Perils of Buying Cash Value Life Insurance
February 4, 2020 by
Financial advisors are targeting high net worth individuals with a strong cash flow. The scheme is to make large deposits in a life insurance policy which creates an early cash surrender value (CSV). Then they arrange for a loan secured by the CSV. … [Read more...]
4
Feb, 2020 How to build a dental practice your employees will enjoy
February 4, 2020 by
Dental practices, like most companies, operate on a set of policies and operating procedures which include mandated vacation days, fixed working hours and annual performance reviews. But what happens when the practice looks less to control and … [Read more...]
21
Jan, 2020 Maximizing the Interest Expense Deduction
January 21, 2020 by
Here are some tax planning tips of making the most of your interest expense write offs. There are three tests you must meet in order to deduct the interest on borrowed money. There must be a legal obligation to pay the interest. This can … [Read more...]
21
Jan, 2020 A Portfolio With a Crazy Low Management Fee of 1/10 of 1 Per Cent
January 21, 2020 by
Management fees can take a big bite out of your investments. $100,000 invested for 20 years at 8% will yield $470,000. With a 2% management fee, the investment shrinks to $325,000, a drop of $145,000 or 30% of the portfolio. You are basically … [Read more...]
7
Jan, 2020 How Much Retirement Income Do You Actually Need?
January 7, 2020 by
In order to provide the best possible advice to clients, a financial planner needs to determine the following: What is the correct asset allocation for each client? How much income can a client safely withdraw to ensure investments do not run … [Read more...]
7
Jan, 2020 Practice Survey: Production is Top Concern
January 7, 2020 by
According to last year’s large-scale annual survey of dental practices by the Levin Group, increasing production remains the top priority of dentists surveyed. Most practitioners appear to be successfully growing their practices. In 2019, the … [Read more...]
7
Jan, 2020 Tax Changes Becoming Effective January 1, 2020
January 7, 2020 by
As part of the federal tax changes which came into effect January 1, 2020, there is an increase in the basic personal which is being phased in over four years until it reaches $15,000 in 2023. For 2020 the exemption amount increased to $13,229 … [Read more...]
23
Dec, 2019 Critical Illness Insurance – It’s Worth Another Look
December 23, 2019 by
You have good practice income, and you are well covered by life - and disability insurance. Any additional insurance does not seem necessary. Take a look at Critical Illness (CI) insurance. Once you learn more about it, the benefits become more … [Read more...]
23
Dec, 2019 Exponential Growth: Tips for Success in a Saturated Market
December 23, 2019 by
Three years ago, Arnaldo Lopez left his associateship to start a brand-new practice from scratch in the most dentally saturated area of Miami-Dade county. He started with zero patients but now three years later he sees about 100 patients per … [Read more...]
