You are either ready to graduate from dental school, or you have recently graduated, and now it’s time to think about what you should do for the rest of your life. You have probably talked to a lot of other people in the dental business for advice, and have gotten a plethora of answers, and some for questions that you may not have known to ask! This type of advice that you get is usually as good as the price you pay for it. People can tell you what they think based on their own experience, but t
Single Member LLCs ("SMLLCs") carry an inherent risk that most people are totally unaware...
The mystery of why attorneys and accountants continue to recommend Limited Liability Companies (“LLCs”) instead of “S” corporations has finally been solved.
New Article for those doctors who are operating as LLC's or are thinking about it.
The terrible tax consequences of operating a dental practice as a "C" Corporation.
“You can’t judge a book by its cover” is a well known adage that acts as a warning to look deeper into an advisor’s hidden agenda before buying into their advice. Usually free advice is worth exactly what you paid for it because the advice may or may not apply to you, your life or your objectives.
There are some dentists and their advisors who worry more about the seller benefits, and lose sight of the immediate and long term benefits for the purchaser. Dentists have turned down buying a practice because their advisors told them it was overpriced by as little as ten or twenty thousand dollars, and they lost the millions of dollars of income they could have made over the next twenty to thirty years of practice.
For some reason, some doctors think there are a large number of potential purchasers walking around with a suitcase full of money, just waiting for the opportunity to buy their practice. It just is not so.
Many of us have lived long enough to know that there are times that can be good… and times that can be bad. Some people have made as much money in bad times as they have made during the good times. It is often just a matter of perspective. Is the glass half-full… or half-empty? Are you looking for opportunities or excuses? The difference can make all the difference in your life, and your Quality of Life.
There's an old maxim, "There are two ways to get rich in this world, either be born rich or marry rich". If you are rich you don't need to read this article, but if you count yourself among the less fortunate millions (not dollars but people), then this article is for you.