[Editor’s Note: Today’s article is a guest post from a friend of mine that wants to remain anonymous. He’s a doctor that teaches other doctors about all types of money matters at Wealthy Doc. ] As a real estate investor, the Wealthy Doc understands that one of the MOST important benefits for investing in the…
Do you want to lower your income tax bill? Who doesn’t? But the more money you make, the higher taxes you have to pay, right? Well, maybe not. Why do the ultra-wealthy like Donald Trump and Warren Buffett pay so little in taxes as compared to their income? It’s because they know how to play…
Pros and Cons Of Capital Gains Tax One of the most overlooked areas high-income professionals seem to miss when developing a financial plan involves TAXES. Why? Because taxes are NO fun (unless you’re a CPA) and who wants to focus on an expense, right? As a high income earner, your largest expense during your career…
Most doctors and other high income professionals typically want to do two things financially to help their families: Pay less taxes and teach their kids about money. One way that they can accomplish both is by employing children at their businesses/practices (consult your CPA for rules before doing so). By doing this, they’re able to…
Paying taxes is unavoidable, but there are numerous opportunities to help lower a tax bill. Recently, I came across a finance forum for doctors that piqued my interest. One of the most highly viewed posts was, “How To Reduce Taxable Income For High Earners.” Most high income earners that I know are constantly looking for…
When I first got out in practice, I didn’t give much thought to paying taxes (or investing) as I was barely making ends meet. Between working out of multiple dental offices and mowing yards (yes, mowing yards!) tax returns were the least of my worries. After a few years of networking with other dentists and…
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