Retirement Is No Pipedream for Baby Boomers and Gen Xers

It’s not too late to begin planning for your golden years.
Younger baby boomers (people in their late 40s to mid-50s) and Gen Xers (those who are ages 38 to 47) are being urged to get on track with their retirement savings now or possibly face a financially difficult retirement, much worse than previous generations.
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How to Attract More Buyers to Your Dental Practice

How does one feel after successfully marketing the practice with a good practice broker and finally finding the buyer that is the right fit for the patients and staff...
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Retirement Plan Market Losses and Their Recovery

During the current cycle of bull and bear markets, investors have seen their portfolios attain profits and undergo losses rather frequently. Even those with conservative investment models have suffered.
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5 Words that Can Impact a Dentist

Incredible tax deductions, protects assets from creditors, and can overcome investment losses from the past? What is it?

All of the above may seem like an insurmountable challenge and not achievable...

Divorce and the Attorney’s Importance in Resolving a Crisis

Who is going to represent the dentist during a messy divorce involving arguably the most important asset that the dentist owns? The dental practice conceivably has the most value and highest earning capacity of any investment on the dentist’s personal statement of net worth. During a divorce proceeding, there is a critical decision to be made by the dentist regarding who he/she should engage to protect that asset and its current earnings and future income potential.
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Basis Issues: S Corporations and LLCs/LLPs

One of the most infuriating outcomes of not understanding basis issues is an expected loss for tax purposes that was thought to flow through to the dentist’s personal tax return that does not do so from an S Corporation.
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A Wise Dentist’s Approach to Money Management

Fill in financial knowledge gaps with expert guidance. Despite having sophisticated higher learning and an efficient clinical practice, many dentists wonder where the income has gone that they have worked so hard to produce.
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Solving Your Financial Future Means Fitting in the Pieces

Competition for dental assistants is at a peak in many parts of the country. Due to demand, more dental assistants have been coming into the marketplace in recent years.
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The New Higher Tax Rates and What Dentists Can Do to Overcome Them

Those dentists in the higher federal income tax brackets, as defined by the new rates on adjusted gross income, find themselves with less take home pay from the same or more revenue. Living expenses rarely decrease, so the dentist has less money to live on as of January 1, 2013.
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Dental Transitions Stymied by Lease Restrictions - Lessons Learned by an Unfriendly Lease

The hardest lesson learned by executing a lease that is too restrictive, may be that the sale of a dental practice won’t just be delayed by the issue, it possibly will not take place at all.
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The Importance of the Dental Practice Valuation during Divorce Proceedings

During divorce proceedings, the presentation of the dentist’s assets will be required for inspection by the attorney and expert evaluator representing the adversarial spouse. The judge will be reviewing the dentist’s balance sheet as well. It is probable that the most valuable asset owned by the dentist is his or her dental practice...
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Dueling Dentists: When Husband and Wife Dental Teams Divorce

The consequences to the dental practice and the dental practitioners are enormous, both financially and psychologically, at least in the short run and almost always in the long term. The husband and wife team each know so much about the dental practice that every “secret” is going to surface during the interrogatories and discovery period of the litigation.
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Divorce/Partnership Disputes and Goodwill Allocations

A valuation is a necessary tool to be used to support the position taken by the parties in a dispute. Because valuations are considered appraisals similar in nature to the appraisal of a home, there is some flexibility in the methodology used in the preparation and with the formulas used to come to a conclusion of value.
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Dental Practice Goodwill: Is it Personal or an Asset of the Practice?

Does it Matter?

What difference does it make if a dentist owns a practice, and there is a question of how much goodwill value is attributed to the practice or directly to the dentist on a personal level? Of course there are income tax considerations that weigh heavily on how the allocation is resolved, but there is an additional consequence that may be of more dire circumstances than the tax result of the reporting entity.
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Is Goodwill Enough?

This article was listed in the December 2011 issue of Dental Products Report magazine, as "One of the Top 10 Most-Read Articles of 2011." The article was originally published in DPR in the November 2010 issue.
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