Individual 401(k) Simply put, an Individual or Solo 401(k) is a retirement account designed for the self-employed, or business owners with no full-time employees, like a solo physician practice. An Individual 401(k) plan offers many of the same benefits of a traditional 401(k) with a few distinct … [Read more...]
SEP IRA vs Solo 401(k)
SEP IRA vs Solo 401(k): Which Should You Choose? How do you multiply your net worth? Let the government help. Here’s how: With both the SEP IRA and the solo 401(k) retirement plans, your investment in your tax-favored retirement creates tax deductions for the money you invest in the plan, grows … [Read more...]
ABCs of Building a Financially Healthy Physician Practice
Building a Financially Healthy Physician Practice As changes continue to occur in the healthcare industry, physicians are taking a hard look at the numbers of a medical practice and gauging whether the year at hand will be economically successful. The ability to analyze the productivity of a … [Read more...]
Did you get sucked in to the Equifax data breach?
Odds are, you or someone you know were impacted by the Equifax data breach. The breach, which is estimated to have impacted 143 million Americans – nearly half the US population – is considered one of largest data breaches in history. Adding insult to financial injury, Equifax has put the onus on … [Read more...]
2014 Report on U.S. Physicians’ Financial Preparedness: Employed Physicians
A new, in-depth report from AMA Insurance shows that employed physicians — now comprising 59 percent of all American physicians — have their own set of personal financial challenges, in part due to their employment status. KEY FINDINGS INCLUDE: • Only 8 percent of employed physicians … [Read more...]
Discontinuance of long term care insurance?
To all of our clients and loved ones…Please read this carefully – a word from Sean Tinsley It has come to our attention that recent increases in the cost of medical care have risen to the point that the insurance industry can no longer make a profit selling long term care insurance. As of this … [Read more...]