Procrastination was my son’s excuse for not pushing himself to finish college on time. And I said, the real reason is the lack of goals or ambition to reach your ultimate goal. If your main goal before the year ends in 2014 is to reduce your income taxes as hard working medical practitioner or businessContinue reading “Reduce your income taxes as medical practitioner or business owner, deadline is this week for 2014”
Category Archives: financial planning
Doctors’ year end financial and business planning
Dear Doctor, I am a financial advisor at Harding Financial which specialize in strategic tax planning strategies using a combination of corporate structuring and financial planning. In working with new clients, we find that doctors are paying unnecessary taxes due to improper corporate structure and improper pay and financial structure. With proper corporate, financial andContinue reading “Doctors’ year end financial and business planning”
Business ownership, real estate and paper assets are your path to wealth building
Business ownership and real estate are the two wealth building asset classes financial advisers typically don’t talk about (because they can’t sell them) even though they are essential components to many wealth plans. Just to be fair, however, business ownership and real estate aren’t for everyone either. These two asset classes have their own setContinue reading “Business ownership, real estate and paper assets are your path to wealth building”
Protect your cash accumulation from unnecessary taxes, market risks and inefficient financial products
Now that you are in critical capital mass and earning more than you are spending, your goals are to protect your cash accumulation from unnecessary taxes, market risks and inefficient financial products. Contact Connie Dello Buono, financial planner for doctors and business owners working with CPA and financial advisors in ensuring that your cash accumulation isContinue reading “Protect your cash accumulation from unnecessary taxes, market risks and inefficient financial products”
Are you losing $1M or more of wealth accumulation intended for retirement?
Contact Connie Dello Buono, financial planner working with financial advisors and CPA helping doctors and business owners protect $1M in wealth accumulation (period of 10 or more years) at 408-854-1883 motherhealth@gmail.com in 50 US states. CA Life Lic 0G60621 , 1708 Hallmark Lane San Jose CA 95124
W2 and 1099 income for Stanford and Kaiser doctors to save more and min taxes
Ask your payroll if you can split your income to W2 (base) and 1099 (extra) to allow your 1099 income into a C corp for max savings and min income taxes. Working for a hospital allowing you to do a 1099 can save you more in income taxes and increase your savings. With VA doctors, payroll willContinue reading “W2 and 1099 income for Stanford and Kaiser doctors to save more and min taxes”
C corporation for the practice, structure for max savings and min taxes
C corporation can be the right choice for many small entities because of the deductions it allows. A C corporation enjoys a full deduction for the cost of employees (including owner employees) health insurance, group term life insurance up to $50k per employee and even long-term care premiums without regard to age-based limitations. A CContinue reading “C corporation for the practice, structure for max savings and min taxes”
Strategic financial structure for doctors saves $71k in income tax per year
“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one’s taxes. Over and over again the Courts have said that there is nothing sinister in so arrangingContinue reading “Strategic financial structure for doctors saves $71k in income tax per year”
How to avoid capital gains tax
First, you can use a tax-protected retirement account to avoid paying capital gains taxes on the proceeds from your stock sales. As long as you keep the proceeds in the account and resist the urge to make premature withdrawals, you can grow your retirement savings on a tax-free basis for an indefinite period of time.
However, your retirement account may be subject to certain contribution limits. If you’re under the age of 50, you can contribute just $5,000 per year into your tax-protected IRA account. If you’re over the age of 50, you may be able to contribute as much as $6,000 into your account. Before you make any contributions, be sure to check with a licensed tax professional.
44 Social Security ‘Secrets’ All Baby Boomers and Millions of Current Recipients by Laurence Kotlikoff
Social Security’s Handbook has 2,728 separate rules governing its benefits. And it has thousands upon thousands of explanations of those rules in its Program Operating Manual System, called the POMS, which provides guidance on implementing the 2,728 rules. Talk about a user’s nightmare! As a young economist, I did a fair amount of academic researchContinue reading “44 Social Security ‘Secrets’ All Baby Boomers and Millions of Current Recipients by Laurence Kotlikoff”
To retire or not to retire at 62 or 70 yrs old
Below are feedback from many retirement planners. Taxes An IRA is 100 percent taxable but only up to 85 percent of Social Security is taxable,” she adds. If you take Social Security at 70, “you’ll have more money available for your retirement years.” Reduced Benefit Although you are eligible to begin taking Social Security atContinue reading “To retire or not to retire at 62 or 70 yrs old”