Given the current health care environment of lower insurance reimbursements, higher costs, and confiscatory taxes it is ever more important to create value and increased opportunities for savings on behalf of our individual physicians. High earning doctors and medical practices typically utilize inefficient retirement plans as their pre-tax program of choice. Often, they are not aware that increased pre-tax savings opportunities are available which can allow for contributions of $100,000 or more without adverse
consequence. I welcome discussion regarding methods for putting these and other types of plans and strategies in place for our physicians.
In future blogs we will be discussing the methods for examining your practice's programs for Wealth Preservation Planning Opportunities, including a discussion of Captive Insurance Companies (surely your doctors have returned from a conference and asked you about the benefits of forming one).