Aug 30, 2022
If you fail to plan, you plan to fail. That couldn’t be truer when it comes to imagining your retirement. ER Docs get so busy and caught up in the day-to-day grind that it can be difficult to find time to envision a reality, perhaps 10, 20, or 30 years away. But thinking about it and discussing it can actually provide...
Aug 23, 2022
It’s important to remember: The IRS is your partner in everything you do. We know ER Docs already pay a lot in tax. The last thing you want is to get audited and potentially pay even more tax. So will the IRS hiring 87,000 new agents over the next 10 years mean more audits and potentially more tax paid in the coming...
Aug 16, 2022
There are several financial “rules of thumb.” Take not exceeding 28% of your gross pay on your mortgage payment or maintaining 6 months of spending as cash reserves, as examples. And while these may not be adequate for everyone, they can serve as a general guideline and promote action where otherwise action would...
Aug 9, 2022
The K-1 is an animal. It’s the tax form that reports the earnings, losses, dividends and more in pass-through businesses like S Corporations and partnerships. A large portion of ER Docs receives K-1 income – either issuing their own via S Corp, receiving one as a partner in a small or large group, or even as an...
Aug 2, 2022
It’s human nature to want to escape a situation that is worsening. House is on fire? It’s probably best to get out. Boat is capsizing? The saying “abandon ship” exists for a reason. Given this reoccurring theme, we as humans are “anti-deterioration”, if you will. But when it comes to the stock market, is...