How will 2014 tax law changes impact your finances this year and beyond? Although the top marginal tax bracket was increased to 39.6%, most physicians will have their marginal rate (their last dollar of income) taxed at 28% or 33%, depending on your taxable income. Understanding tax brackets Contrary to popular belief, when you earnContinue reading “Medical doctors: 2014 tax law changes , impact and financial strategies”
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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”
Inherited IRAs are Not Protected in Bankruptcy as “Retirement Funds”
On June 12, 2014, the U.S. Supreme Court decided the case of Clark v. Rameker. The Court held that Inherited IRA’s were not “retirement funds” and therefore, not protected assets in bankruptcy. Background The petitioners in the case had filed for Chapter 7 bankruptcy and were seeking to exclude approximately $300,000 from the bankruptcy estateContinue reading “Inherited IRAs are Not Protected in Bankruptcy as “Retirement Funds””
Free 30-min chat with a financial advisor 408-854-1883
Call Connie Dello Buono to schedule you to one of the many financial advisors who can listen to your financial goals for 30-min at 408-854-1883 and email motherhealth@gmail.com. And then when you know that you need a financial strategy, another 40min free introduction to the financial strategy will be scheduled. There is the listening toContinue reading “Free 30-min chat with a financial advisor 408-854-1883”