Articles

TAX CUTS AND JOBS ACT OF 2017 – PART 2

General:  The new tax law changes affecting corporations are the most dramatic.  The reduction in the corporate tax rate from 35% to 21% will be a boon for the economy, making the United States, from a tax standpoint, more competitive with the rest of the developed world.  Corporations, which since the 2008 financial crisis have […]

TAX CUTS AND JOBS ACT OF 2017 – PART 1

The tax reform that cleared Congress and is awaiting President Trump’s signature is the biggest overhaul in the tax laws since the Tax Reform Act of 1986.  This is a massive and complex series of new laws – not just in the magnitude of the cuts, but because it fundamentally alters many principles we’ve been […]

TAX CUTS AND JOBS ACT OF 2017 – PART I

The tax reform that cleared Congress and is awaiting President Trump’s signature is the biggest overhaul in the tax laws since the Tax Reform Act of 1986.  This is a massive and complex series of new laws – not just in the magnitude of the cuts, but because it fundamentally alters many principles we’ve been […]

Final Year-End Tax-Saving Strategies

The Senate Passes its Version of a Tax Reform Bill, So When (If) President Trump Signs a Final Version, Expect Individual and Business Tax Rates to Fall Modestly in 2018:  We will devote at least one full issue of the Newsletter to the final law once it passes.  In the meantime, over the last two […]

Charitable Giving Through Donor Advised Funds

Creating a Donor Advised Fund for Charitable Giving is an Intriguing Concept, but be Prepared for High Fees and Limited Investment Options:   Financial advisors are urging their doctor clients to set up donor advised funds before year-end.  The idea is that you will open a charitable account through a broker like Charles Schwab, Fidelity or […]

Qualified Charitable Distributions

The Up-To-$100,000 Qualified Charitable Distributions (QCDs) That Can be Taken From One’s Required Minimum Distributions Must Go Directly to the Final Operating Charity, Not a Donor Advised Fund:  There’s been some confusion on this.  But, the Pension Protection Act of 2006 is clear on this point.

2017 May be the Last Year for Roth IRA Recharacterizations

If we make a conversion of traditional IRA funds to a Roth IRA (and in the process incur the obligatory income tax), we have enjoyed the option of undoing the conversion by moving the cash or securities back to the traditional IRA through what’s called a “recharacterization.”  We’d do this if the value of the […]

Thoughts from the Just Completed C&A 2017 Chicago Advanced Investment Seminar

If you attended, you know it was a great meeting.  If not, hopefully you can attend one of our investment seminars next year.  Our guest speakers gave excellent well-reasoned stock and bond recommendations that better insulate our portfolios when the next correction or bear market hits the stock market and rising interest rates hit the […]

Practice Transitions – When the Status Quo is Working Well, Why Mess With Success?

Let’s say you’re a busy orthodontist in your mid-40s in a single doctor practice.  Your annual collections are $1,800,000, and new patient exams are booked six weeks out.  Yours is the only practice in town.  A young orthodontist about to graduate from his residency program contacts you about joining your practice as an associate with […]

How to Be Sure That Your Automobile Insurance Covers Both You and Your Practice Entity

Let’s say that you practice through a corporation that owns your car.  If there is an accident, you want to be sure that the corporation can get reimbursed for the property damage and that both you and the corporation are insured if you are sued.  If you are sued, the corporation will also be sued […]