Blog
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From Scrubs to Side Hustles: 13 Best Physician Side Gigs
From Scrubs to Side Hustles: 13 Best Physician Side Gigs [Editor’s Note: Today’s article is a guest post from Justin Nabity, CFP of Physician Thrive. Justin founded Physician Thrive to help doctors avoid business and legal pitfalls along with helping them build their financial education.] There are a lot of factors physicians consider when starting their careers…
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From Wells to Wallets: A Beginner’s Guide to Oil and Gas Investing
From Wells to Wallets: A Beginner’s Guide to Oil and Gas Investing Dentists and physicians spend their entire careers focused on the health and well-being of their patients (which is a good thing!). Unfortunately, most don’t think about their own financial well-being until they “have to.” For me, that “have to” moment involved injuring my…
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A Guide to Core, Core Plus, Value-Add & Opportunistic Strategies
A Guide to Core, Core Plus, Value-Add & Opportunistic Strategies As a father of two teenagers, I initially made an investment decision to save money more conservatively to mitigate risk as much as possible. What’s great about real estate is that there are multiple real estate investment opportunities and strategies that you can choose from…
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Material Participation: A Game Changer for Your Business
Material Participation: A Game Changer for Your Business If you’re wanting to lower taxes, then one of the BEST strategies is to invest in real estate. Two of the more popular ways has to do with either: Becoming a real estate professional Using the short-term rental tax loophole Real Estate Professional The IRS states that…
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Passive Income vs Active Income: The Ultimate Showdown
Passive Income vs Active Income: The Ultimate Showdown It’s funny that I went to college and dental school to inevitably make money yet was never taught the difference between passive income vs active income. After receiving my first tax return, it didn’t take long to figure out that earned or ordinary income from fixing teeth…
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Navigating the IRS Audit Process: What You Need to Know
Navigating the IRS Audit Process: What You Need to Know As a doctor, one of the worst things to hear is that you’re getting sued. Another issue that doesn’t sit well is that you’re potentially facing an IRS audit. I understand that a tax audit might be an inconvenience, but it’s usually not much more…
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Is The Stock Market Rigged? The Truth Exposed
Is The Stock Market Rigged? The Truth Exposed Years ago, I watched a documentary about how sites like SeatGeek and StubHub can acquire so many tickets to events BEFORE the general public. This was right around the time of the Superbowl so I decided to see it in action for myself. I logged in shortly…
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Real Estate Tax Savings: The Power of Accelerated Depreciation
Real Estate Tax Savings: The Power of Accelerated Depreciation Recently, I was listening to a podcast where Grant Cardone was discussing taxes and real estate. At one point he said something that made me completely stop my uphill (moderately fast 🙂 ) walk and think for a minute. In a nutshell, this was the point he…
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10 Tax Strategies for High Income Earners: Avoid the Tax Man
10 Tax Strategies for High Income Earners: Avoid the Tax Man If you make a lot of money, then there’s a good chance that you’re paying too much to the tax man. High-income earners understand that their biggest expense during their lifetime is taxes. No one wants to pay more in taxes than they have…
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Cost Segregation: A Powerful Tax Strategy For High Income Professionals
Cost Segregation: A Powerful Tax Strategy For High Income Professionals Benjamin Franklin said there were only two things certain in life: death and taxes. As a periodontist, I accepted the fact that I was going to work my entire career having to pay a boatload of taxes. I’ll never forget overhearing a conversation at a…
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Opportunity Zone Tax Benefits: A Game-Changer for Investors
When I finished training, I was focused on getting rid of $300k worth of student loan debt and developing a solid financial plan. Unfortunately, most high-income professionals miss out on a key part of planning for building wealth: a tax reduction plan. If you know that your BIGGEST expense is going to be your federal…
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117 Robert Kiyosaki Quotes For Building Wealth
Each time I have a call with a new Passive Investors Circle member, one of the first recommendations I make is for them to read Robert Kiyosaki’s Rich Dad Poor Dad. The majority of real estate investors cite this book as the catalyst to begin pursing passive income. Rich Dad Poor Dad has sold over 40…
