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Education Planning

Saving/Paying for College

My child has been accepted to college. With the volatility in the markets and the annual increases in tuition, should I go ahead and prepay their tuition for the next 4 years?

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Family Entities (FLP/LLC)

The family limited partnership (FLP) we set up years ago worked well when our 3 children were younger and we were able to distribute over $20,000/year to the kids to use for their private education. Now our kids are in their 20's and working. We still need the $20,000 that we are paying into the FLP, and we are creating tax consequences for our kids by "running this money" through them. Can we freeze or change the FLP in a way that would work better for our current situation?

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Family Entities (FLP/LLC)

If the dental equipment in a family limited partnership has been depreciated and the note paid off, and if the equipment is still being used, then how do you determine the fair market value in setting the new lease agreement when an S corporation dental partnership is involved?

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Saving/Paying for College

My grandson is 6 months old and I wanted to explore the various college funding vehicles available to me. My daughter started a 529 plan. Is there a less costly option?

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Saving/Paying for College

Our son has just graduated from college and still has funds left in his 529 plan account. Our daughter is now in her junior year at a private university and we are using her 529 funds faster than anticipated. Are we able to use our son’s left over funds to help our pay for our daughter?

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Marketing

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Personal Finances

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Practice Management

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Retirement Plans

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Tax

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Transitions

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Browse Categories

Topic

Education Planning

Saving/Paying for College

My child has been accepted to college. With the volatility in the markets and the annual increases in tuition, should I go ahead and prepay their tuition for the next 4 years?

Family Entities (FLP/LLC)

Family Entities (FLP/LLC)

If the dental equipment in a family limited partnership has been depreciated and the note paid off, and if the equipment is still being used, then how do you determine the fair market value in setting the new lease agreement when an S corporation dental partnership is involved?

Saving/Paying for College

My grandson is 6 months old and I wanted to explore the various college funding vehicles available to me. My daughter started a 529 plan. Is there a less costly option?

Saving/Paying for College

Our son has just graduated from college and still has funds left in his 529 plan account. Our daughter is now in her junior year at a private university and we are using her 529 funds faster than anticipated. Are we able to use our son’s left over funds to help our pay for our daughter?

Topic

Insurance

Health

In regards to deducting family medical insurance premiums, where do you put deductions on your tax return?

Health

Can my practice still offer a medical expense reimbursement plan (MERP) under the new healthcare laws?

Health

How do I set up a wellness plan for the benefit of my employees?

General/Other

Health

Should I set up a HSA if I operate as a C Corporation where all of my medical expenses are paid through the C Corporation?

Health

Are family members considered employees for the purpose of calculating the new health insurance tax credit?

Topic

Investments

Annuities

Should insurance products, such as variable annuities, fixed annuities, whole life and universal life, be a part of my investment portfolio?

General/Other

How much should I be paying my investment advisor?

General/Other

What is the difference between a broker and an investment advisor?

General/Other

How often should I be speaking with my investment advisor?

Topic

Marketing

Marketing Strategies

What are the most effective ways to market my practice?

General/Other

What is the common percentage a practice should use for its marketing budget? And would that include the marketing salaries?

Marketing Strategies

What is meant by the marketing suggestion “sponsor consultants for hygiene programs in your area”?

Marketing Strategies

What are the top considerations for an effective internal marketing program?

Topic

Personal Finances

Budgeting, Spending, Saving

You recommend establishing a personal budget. What is best tool/software and how will I know how much to allocate to certain categories?

Estate Planning

I pay a bank to act as trustee of an irrevocable life insurance trust. They charge $500 a year to basically send two letters and pay the premium. Is this customary? Who would you recommend as trustee?

Budgeting, Spending, Saving

How should I prioritize my savings?

Topic

Practice Management

Personnel - Compensation

What is an example of an effective bonus plan?

Budget, Fees, Overhead

As an orthodontist, should I classify my treatment coordinators as "clinical" or "clerical" when breaking down staff salary expenses?

Budget, Fees, Overhead

How much does the average practice invest in new technology each year?

Personnel - Compensation

What does it mean to base an employee’s bonus on his or her achievement of individualized performance goals?

Budget, Fees, Overhead

What numbers or statistics should I review to make sure my practice is doing well?

Personnel - Compensation

What are some ideas to increase staff compensation while avoiding increased tax liabilities?

Personnel - Compensation

Do you have examples of a performance-based bonus system for orthodontic staff?

Topic

Retirement Plans

General/Other

What happens to staff member non-vested assets if the doctor retires before the full vesting schedule is met?

General/Other

How do I change the beneficiary for my retirement plan accounts?

IRAs (Roth, SEP, SIMPLE, etc.)

How can I convert my after-tax non-deductible IRA contributions to a Roth IRA without incurring significant tax consequences?