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By Jason M. O’Dell, Stan Miller, and David B. Mandell, JD, MBA
In these uncertain times, be careful not to leave your assets vulnerable to
malpractice judgments.
The federal government won’t pay you just for the asking, but you can recover investment losses with a
variety of tax benefits.
For the right type of practice, with proper set-up and maintenance, our case
study shows that captive insurance companies can be a vital part of doctors'
financial plans.
The most effective ways to minimize financial risks over the long term may be
surprising.
Taking on the business side of a practice can net you invaluable experience, but
preparation for the role is key.
Most physicians get few tax planning ideas from their financial advisers. Plan
now and save next April 15th.
You may be counting on the sale of your medical practice to fund your
retirement. But reaping big returns from that sale takes planning up front.
You've promised to lose weight, get in shape, and review your finances, but
professional resolutions are perhaps more urgent and more rewarding.
Three reasons to avoid general partnerships when you set up a practice.
Sign-on bonuses and moving expenses may seem like easy money, but beware of the
tax consequences and contractual obligations created by these and other
benefits.
There are a variety of ways to protect your valuable assets from potential
lawsuits. Find out if these fit your needs.
An electronic health record system may have just come within your reach. The
federal government has issued guidelines and safe harbors for donating and
receiving these systems.
When you get the chance to acquire your own practice, be ready to take these
steps to ensure a smooth transition and successful ownership.
Many physicians are not getting the advice they should from their professional
advisers. See if you’re among them and how to remedy the problem.
Yes, you have yet another HIPAA rule to master. This one dictates procedures and
penalties when the other rules are broken.
Making a little extra cash through moonlighting is a great way to fund holiday
expenses. Be sure to check your contract and insurance provisions first.
Stay current on trends and build your business and legal understanding through
regular reading of key resources.
Could there be retirement options you don’t know about? Explore the advantages of non-qualified and non-traditional
benefit plans.
For asset protection and tax-free growth, investors may need to look no further
than your basic investments of life insurance and annuities.
When conflict arises over a non-competition covenant, resolution can be achieved
through several means.
As you evaluate an employment contract, examine the details of any
non-competition covenant contained therein. Those details may men the
difference between a contract you can live with and one that needs to change.
The last of the three major HIPAA regulations is nearing enactment. Know what
you must do to ensure the confidentiality, integrity, and availability of
protected health information.
The family limited partnership is one tool every physician must have to protect
assets, save on taxes, and establish a quality estate plan.
In honor of the first anniversary of the HIPAA Privacy Rule, it’s time to remember the key elements of compliance. Plus, physicians share
stories about how the Privacy Rule affects their practices.
Salary guarantees, relocation expenses, and signing bonuses are nice perks when
you’re starting a new position, but be sure you follow the rules.
Life insurance is one of the most significant assets you will ever own. Here’s what you need to know about how much to buy and choosing and purchasing these
policies.
Use your last year of residency to train for a major league medical career.
Scout your leads, prepare your resume, and you’ll hit a home run in your first position.
What can you do to protect your accounts receivable from a lawsuit? It’s not as easy as some advisers would have you believe, but it can be done.
Hitting the right note with the termination provisions of your employment
contract can mean a world of difference in the tone of your tenure in a
practice.
So, you have a great idea for a medical device and want to manufacture and sell
it for the benefit of all the world...and hopefully yourself as well. It’s time to shift from inventor to entrepreneur.
Any parent with children and a moderate amount of wealth will have, or should
have, a trust document. It’s an ideal way to secure your family’s future resources in case of your death, and may be used to save on estate
taxes.
Electronic transactions and patient privacy rules are set to take effect in
October and April. Be sure you’re ready for them.
Estate planning is not a one-time event. Changes in your life and the legal
environment mean you need to regularly reevaluate your financial planning.
If you want to be an owner of a medical practice, the first thing to consider is
to consider it first. Set up your path to ownership when you first enter into
an employment contract.
The tax benefits, individual control, and enhanced liability protection offered
by these offshore entities may make them worthwhile investments for individual
physicians or groups.
Shield your practice and savings from lawsuits with defensive financial
planning.
Part II of II. When your number is up to withdraw from your retirement plan, it’s best to go ahead and take it. And be sure you have named the appropriate
beneficiaries to those accounts.
Part I of II. Various retirement accounts offer different kinds of benefits, and
your employment situation determines which ones are appropriate for you.
Pay attention: This time you’re actually going to get a break or two. Here are ten tax changes that will help
you keep more of your earnings.
College saving is a big concern for many parents, and Section 529 plans provide
tax and estate benefits for parents saving for children’s education.
Consider all the aspects of recruitment incentives before deciding which are the
most valuable.
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UO magazine
is published by
UO Inc. © 2009
UO magazine
is published by
UO Inc. © 2009
Career Development Articles + Physician Practice Opportunities