Category: Personal Finance
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Thinking of Selling Your Dental Practice to a DSO? Read This First
Thinking of Selling Your Dental Practice to a DSO? Read This First Many dental clients ask me, “Jeff, is selling to a DSO a good idea?” It depends…. Selling a dental practice to a Dental Service Organization (DSO) is a major decision for any dentist. This choice can offer financial stability and lessen administrative responsibilities,…
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What to Know Before Buying a Dental Practice
What to Know Before Buying a Dental Practice Assessing whether to buy an existing practice or start a new one is critical to making the right decision. Especially if you’re right out of dental school. Established practices benefit from an existing patient base, trained staff, and operational systems. These can make the transition smoother and…
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The Best Tax-Efficient Retirement Withdrawal Strategies
The Best Tax-Efficient Retirement Withdrawal Strategies One of the BIGGEST worries people have regarding “retirement planning” is running out of money after they quit working. Financial advisors do a GREAT job of “scaring” us into thinking we need to work much longer than we should. Why shouldn’t they? The longer we work and contribute to…
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Common Non-Taxable Income Types You Should Know
Common Non-Taxable Income Types You Should Know It didn’t take long after becoming a dentist to understand just how much the “tax man” taketh from us. Most people spend their entire career focused on earning an income from “taxable” sources. But did you know that there are several non-taxable income types? That’s right, and in…
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How Much Does a Dentist Make A Year?
How Much Does a Dentist Make A Year? If you’re considering going into dentistry or are already a dentist, you may want to know what your income potential really looks like. In this article, we’re going to highlight the different stages of dentistry, from a new graduate to practice ownership and even those who want…
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Doctor AI: Can Artificial Intelligence Improve Healthcare?
Doctor AI: Can Artificial Intelligence Improve Healthcare? Advancements in artificial intelligence (e.g., ChatGPT) and data analytics have led to the development of “doctor AI” solutions that are transforming patient care. These AI-driven tools, such as chatbots and online diagnostic systems, aim to provide fast, accurate, and personalized healthcare advice. Doctor AI applications can analyze health…
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The Great Escape: When Do Doctors Really Retire?
The Great Escape: When Do Doctors Really Retire? Deciding when to retire is a significant consideration for doctors. The ones in my area seem to work well into their 70s and 80s. The age when doctors retire matters because it impacts how many are available to work, patient access to healthcare, and the cost of…
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What is a DSO? Understanding Dental Support Organizations
What is a DSO? Understanding Dental Support Organizations I have been practicing as a periodontist for nearly 20 years. Early in my career, I noticed that only about 1-2 booths at the meetings were related to DSOs or private equity. Now, that number has increased to over 30%. The landscape has certainly changed. In this…
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The Ultimate List Of Tax Deductions For Doctors
The Ultimate List Of Tax Deductions For Doctors Recently in the gym, I had a conversation with two medical students. They asked, “What do you recommend we learn now before we start practicing?” These guys are thinking the right way. I told them that their situation was similar to that of pro athletes. They go…
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How to Get Out of the Rat Race: A Doctor’s Guide
How to Get Out of the Rat Race: A Doctor’s Guide Escaping the rat race often feels like a distant dream. But it’s more attainable than you might think. I’d never heard of the term “rat race” before until a few years of practicing dentistry. It’s a way of life where you’re caught in a…
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Lease vs Buy: Tax Benefits for Your New Car
Lease vs Buy: Tax Benefits for Your New Car When considering the financial impact of getting that new car for your business/practice, you may find yourself weighing the benefits of leasing versus buying. The choice can have significant tax implications that require careful examination before you make a decision. If you listen to Dave Ramsey,…
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Marshawn Lynch’s Wealth Secrets: Turning NFL Advice Into Financial Gain
Marshawn Lynch’s Wealth Secrets: Turning NFL Advice Into Financial Gain Despite earning high incomes during their careers, up to 78% (ouch) experience financial distress or bankruptcy within two years of leaving the league. Contributing factors include the average career length of roughly 3.3 years, extravagant spending habits, lack of financial education, poor investment decisions, and…
