Christopher R. Jarvis, M.B.A.
Evaluating your finance team
Tax planning is like medicine. Each area has become so complex that one can only hope to become an expert in one discipline.
How to insure against RAC audits, ICD-10, Affordable Care Act
Captive insurance companies can help physicians manage financial risks, reduce taxable income by hundreds of thousands of dollars per year, and build a side fund to help manage future changes.
How to take advantage of tax incentives for high earners
Traditional retirement plans are designed for taxpayers who earn less than a specific amount per year. By traditional, we mean plans that go by names like 401(k), profit sharing, 403(b), pension, thrift, or 457 plans.
The wrong financial adviser could cost you millions
The single most common mistake we see in our physician-focused practice is in the doctors’ choice of specialists. The successful delivery of healthcare is based on the patients’ need for physicians to refer them within and between various specialties and subspecialties when unique challenges arise. When it comes to the successful navigation of their own financial health, however, physicians do not apply the same logic or expect the same level of sophistication from their advisers.
Higher profit, lower taxes possible in private practice
Being an employee at a hospital can be a great fit for many doctors. But, for (supposedly) high-income specialists, this decision could come at an unnecessarily high financial cost.
Four money-saving ideas can help you prepare for Tax Day 2010
As a physician, do you realize that, between income, capital gains, Medicare, self-employment and other taxes, you spend 40 percent to 50 percent of your working hours laboring for the IRS and your state?
Physician, insure thyself: CICs can be ideal tools if they are created for the right type of practice and are established and maintained properly.
As frequent speakers to physicians on asset protection and advanced planning, we are often asked about captive insurance companies (CICs). Certainly, CICs can be ideal tools if they are created for the right type of practice and are established and maintained properly. In this article, we will examine the benefits and costs of CICs and then demonstrate a case study of two doctors who use CICs to significantly enhance many areas of comprehensive financial planning.
Internal buyouts: Plan well; sell your medical practice for millions at retirement
As attorneys and consultants to thousands of physicians across the country, we are constantly astounded by the attitudes of physicians regarding the sale of their medical practices. Most often, today, we hear the complaint that doctors do not feel they can sell a practice for any significant value. They generally do not feel the practice is "worth anything," especially if they do not have younger partners to buy them out.
How the New President and Congress Will Financially Impact YOU in 2009
After an historic turnout for a Barack Obama landslide victory and a stronger democratic majority in both the house and senate, the table is set to allow the democrats to make every attempt to address the issues facing our country.
Physicians aren't 'average Americans': Don't settle for standard legal, financial advice from mainstream media
In Part 1 of this article, published in Dermatology Times last month, we explained that physician families have substantially greater liability risk and retirement challenges than do so-called "average American" families. This segment will focus on tax, investment and insurance issues that affect physicians; mistakes that doctors make; and suggestions for avoiding pitfalls.


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