As we continue through the fourth quarter of the year, most of our clients now have a fairly good idea of what their taxable income will be for 2010. If you are like these clients, you may be wondering, “Is there anything I can do now to save taxes on April 15?” The answer is very likely “Yes.”
Money: It’s part of our lives from the first day our mommy tucks lunch money into our backpacks, until we finally shuffle off this mortal coil. How much of the stuff we manage to earn, how much of it we save, what we do with it — these things will help to determine how successful we will be in today’s financially oriented society.
The federal government has committed more than $11 trillion to bailouts to ?help? the U.S. economy. The good news is that only $3 trillion of it has been spent so far. Of course, somebody has to pay for this — primarily, high-income taxpayers.
Every fund has to pay its managers and cover normal operating expenses. That's where the annual management fee comes in. Whatever the rate of return generated by the fund, it will be reduced by the amount of the annual fee.
Since our legal system provides very little downside for filing a
frivolous lawsuit, we can expect this problem to get worse before
it gets better.
Alexander Rivkin, M.D., a facial plastic surgeon and owner of Westside Medical Spa in Los Angeles, believes physicians should own medical spas and maintain tight control over what happens in them.
The key, according to Dr. Sullivan, is to bring the surgeon in ahead of time, before the outgoing surgeon retires, and work together to transition the practice.
Dr. Anderson says that MICRA's four-pronged approach has reduced California's malpractice insurance rates by 25 to 40 percent, compared to what the rates would otherwise be without the reforms.
An afternoon a month spent working on ownership issues can help doctors realize the financial, tax and liability benefits that their practices, like any well-run business, should enjoy.
In case you missed it, I want to tell you about a startling piece of news that I came across recently in a scientific study done by Brightwork Partners and published in USA Today. It was determined that rich retirees are happier than retirees who are not rich. Huh?