NEWS
Newsletter: Monthly Market Commentary and Portfolio Analysis
May 9, 2012
Newsletter: Don't Let Another April 15th Be Rainy for You
April 24, 2012
Newsletter: Monthly Market Commentary and Portfolio Analysis
April 10, 2012
Newsletter: A Common Tax Mistake Could Be Costing You Thousands Annually
March 16, 2012
Newsletter: Monthly Market Commentary and Portfolio Analysis
March 7, 2012
Newsletter: The Most Important Element of Your Financial Plan - Part 2
February 24, 2012
Newsletter: Monthly Market Commentary and Portfolio Analysis
February 13, 2012
Newsletter: The Most Important Element of Your Financial Plan - Part 1
January 26, 2012
Newsletter: Monthly Market Commentary and Portfolio Analysis
January 18, 2012
Newsletter: Fringe Benefit Plans
December 14, 2011
Newsletter: 2011 4th Quarter Tax Saving Tips
October 20, 2011
Newsletter: Monthly Market Commentary and Portfolio Analysis
October 11, 2011
Newsletter: The Best Asset Protection is Not Asset Protection? ...Is Yours?
September 27, 2011
Newsletter: Ohio/Kentucky update
September 12, 2011
Newsletter: Monthly Market Commentary and Portfolio Analysis
September 8, 2011
Newsletter: "S" or "C" Corp? Maximize Tax Deductions by Using Both! Pitfalls
August 19, 2011
Newsletter: Monthly Market Commentary and Portfolio Analysis
August 8, 2011
Newsletter: Will You Conquer the Cash Crunch in Retirement? How to Meet the #1 Financial Challenge Facing Baby Boomers and Avoid Common Pitfalls
July 22, 2011
Newsletter: Will You Conquer the Cash Crunch in Retirement?
July 12, 2011
Newsletter: Monthly Market Commentary and Portfolio Analysis
June 24, 2011
Newsletter: Beware CPA's Advice on Asset Protection: The Advice you Get May be Inaccurate
June 17, 2011
Newsletter: Monthly Market Commentary and Portfolio Analysis
May 25, 2011
Newsletter: Ohio/Kentucky update
May 19, 2011
Newsletter: How to protect against losing assets in a divorce
May 13, 2011
Newsletter: Don't sell your soul to the hospital yet!
May 13, 2011
Newsletter: Don't let another April 15th be rainy for you - 4 tax-saving ideas
April 18, 2011
Newsletter: Don't let another April 15th be rainy for you
April 18, 2011
Newsletter: Monthly Market Commentary and Portfolio Analysis
April 8, 2011
Newsletter: Monthly Market Commentary and Portfolio Analysis
March 23, 2011
Newsletter: What's new in retirement planning?
March 11, 2011
Newsletter: Are You Making the #1 Physician Financial Mistake?
March 9, 2011
Newsletter: Monthly Market Commentary and Portfolio Analysis
March 9, 2011
Newsletter: Ohio/Kentucky update
March 9, 2011
Newsletter: Dispelling the #1 Myth of Asset Protection
January 24, 2011
Newsletter: New Tax Compromise Primer and Last-Ditch Savings for 2010
December 28, 2010
Newsletter: OJM Group Monthly Market Commentary and Portfolio Analysis
December 23, 2010
Newsletter: How to Sell Your Medical Practice for Millions: Create an Internal Buy-Out Fund
December 8, 2010
Newsletter: OJM Group Monthly Market Commentary and Portfolio Analysis
November 17, 2010
Newsletter: Avoid Financial Gridlock In Your Practice
November 10, 2010
Newsletter: OJM Group Monthly Market Commentary
October 25, 2010
Newsletter: Business Owners - Protect Your Wealth Against 2011 Tax Increases
October 20, 2010
Newsletter: Protect Your Wealth Against 2011 Tax Increases Now
October 13, 2010
Free consultation: To recieve a free consultation from the nations top planning firm visit
November 27, 2009
UPCOMING EVENTS
More events coming soon
Each month, we host a number of free webinars for our clients and friends. Check back soon for an updated list of scheduled events.RECENT ARTICLES
In today's medical economic environment, many physicians are attracted to the seeming "comfort" of a large group practice. However, larger groups often fail to react quickly and plan against challenges. In the vast majority of group practices with more than 3 or 4 physicians, they suffer from what we will call "lowest common denominator' or "LCD" planning. LCD planning occurs when the practice will only implement the asset protection, tax-reduction, qualified or non-qualified planning techniques that everyone can agree on. This is not surprising -- as doctors are notoriously independent, intelligent and very busy. There are often too many opinions and distractions for a group of doctors to unanimously agree on anything other than the simplest (and least beneficial) strategies.
May 11, 2012
In Part 1 of this article, you learned why the following strategies may not make sense for most physicians.
1. Not using a corporation (or using the wrong type of corporation).
2. Owning assets your name, spouse's name, or jointly with spouse.
3. Wasting time and money on traditional qualified retirement plans.
Part 2 of our article will focus more on tax, investment and insurance mistakes doctors make when following advice that is designed for tens of millions of average Americans. When professionals with significant tax, asset protection and retirement challenges use tools designed for people who pay little or no tax and will never be sued, problems are bound to arise. More importantly, this segment of the article will offer you some helpful hints to avoid these pitfalls.
1. Not using a corporation (or using the wrong type of corporation).
2. Owning assets your name, spouse's name, or jointly with spouse.
3. Wasting time and money on traditional qualified retirement plans.
Part 2 of our article will focus more on tax, investment and insurance mistakes doctors make when following advice that is designed for tens of millions of average Americans. When professionals with significant tax, asset protection and retirement challenges use tools designed for people who pay little or no tax and will never be sued, problems are bound to arise. More importantly, this segment of the article will offer you some helpful hints to avoid these pitfalls.
May 11, 2012
Most legal, accounting, insurance and investment strategies have been created for:
1. The average American family whose annual income tax liability is less than 12%.
2. The 98% of American families who will NEVER owe any estate taxes.
3. An employee, not an employer, who will likely never be sued and who has no control over the choice of legal entity or type of retirement vehicles the employer will utilize.
4. Someone whose income is based on productivity, NOT government regulation.
If the four statements above sound like your life, then "Off the rack" planning at most firms is likely sufficient for your needs. For most doctors, most if not all of these characteristics are not true.
1. The average American family whose annual income tax liability is less than 12%.
2. The 98% of American families who will NEVER owe any estate taxes.
3. An employee, not an employer, who will likely never be sued and who has no control over the choice of legal entity or type of retirement vehicles the employer will utilize.
4. Someone whose income is based on productivity, NOT government regulation.
If the four statements above sound like your life, then "Off the rack" planning at most firms is likely sufficient for your needs. For most doctors, most if not all of these characteristics are not true.
May 11, 2012
As a physician, do you realize that -- between income, capital gains, Medicare, self-employment and other taxes -- you spend between 40 to 50% of your working hours laboring for the IRS and your state? That is a lot of time with patients for someone else's benefit. Given the significance of this fact, shouldn't your advisors be giving you creative ways to legally reduce your tax liabilities? How many tax-reducing ideas does your CPA regularly provide you? If you are like most physicians, you get very few tax planning ideas from your advisors.
April 18, 2012
As authors of 4 books for physicians, including our latest, For Doctors Only: A Guide to Working Less & Building More, we have consulted with thousands of doctors of all specialties during the last decade. From this experience, we have become intimately familiar with the mistakes physicians make when working with their CPAs, attorneys, and other financial advisors. Whether it is in the area of tax, asset protection, retirement planning, or other areas, the result is almost always the same. We leave the meetings or conference calls asking ourselves, "How could this doctor get such [poor, uncreative, or just plain wrong] advice?" It would be laughable if it weren't so troubling.
March 21, 2012
Real estate is a very common investment among doctors. However, very few doctors have implemented the proper legal structures to get the most out of this investment. As a result, doctors expose themselves to unnecessary lawsuit risks and pay far too much in unnecessary taxes on their real estate investments. The purpose of this article is to show you how to own real estate so that you may be able to protect yourself from real estate-related lawsuits. Perhaps most importantly, the proper structure could more than pay for itself through the tax savings you may realize.
February 28, 2012
Choosing the form and structure of one?s medical practice is an important decision. Most advisors to medical practices believe that the avoidance of potential double taxation makes the S Corporation the logical choice. This ?conventional wisdom? overlooks the potential benefits a C Corporation can offer. If you want to explore ways to reduce unnecessary taxes without subjecting yourself to double taxation AND would like to see how you can do this without having to change any of your insurance provider or Medicare provider numbers, this article is ideal for you.
February 28, 2012
As authors of books on wealth protection for physicians since the 1990s, we have been asked hundreds of times by doctors about protecting assets in a divorce. This shouldn?t come as a surprise, as over 50% of all marriages in this country end in divorce?and that percentage grows to almost 75% for second marriages. Physicians are not immune from this trend ? in fact, the numbers for doctors may be even worse.
February 12, 2012
As medical reimbursements continue to shrink and threats of continued healthcare reform loom, a very popular question we receive at conferences and in consults with high income practices is, “Would owning part of a Small Insurance Company help me and my practice become more financially efficient?” If your practice currently generates over $3,000,000 of revenues and you would like to take advantage of opportunities to improve the financial success you realize from your hard work without having to see any more patients, then this article may prove to be very valuable information for you.
February 9, 2012
In Part 1 of this article, you learned why the strategies and techniques used by most attorneys, accountants and financial advisors betray physician families that pay high marginal taxes, are subject to heightened government control, and have greater liability risk and retirement challenges than average American families. Part 1 offered three common mistakes doctor families' make:
1. Not using a corporation (or using the wrong type of corporation).
2. Owning ANYTHING in your name, spouses's name, or jointly with spouse.
3. Wasting time and money on traditional qualified retirement plans.
1. Not using a corporation (or using the wrong type of corporation).
2. Owning ANYTHING in your name, spouses's name, or jointly with spouse.
3. Wasting time and money on traditional qualified retirement plans.
February 9, 2012
WEBINAR ARCHIVE
Special Joint Webinar Session
OJM Group teamed up with Medical Justice to present the April webinar session.Don't Let '13 Be Unlucky: Getting Ready for the 2013 Tax Law Changes; and
Doctor Reviews: Welcome to the 21st Century
Don't Let '13 Be Unlucky: Getting Ready for the 2013 Tax Law Changes
Presented by Carole Foos, CPA of OJM Group
Doctor Reviews: Welcome to the 21st Century
Presented by Dr. Jeffrey Segal, MD, JD, FACS of Medical Justice.
If you join us for this webinar, here are a few things that you will learn:
Getting Ready for the 2013 Tax Law Changes:
- Tax Changes on Investment Income
- Decreasing Deductions and Exemptions;
- Obama Budget Proposals;
- What do I do to Minimize Effect?
Doctor Reviews: Welcome to the 21st Century
- Are review sites helpful or harmful?
- Is good medicine popular?
- Can you sue for defamation?
- Proactive strategies.
April 18, 2012
There is much talk in the financial media about the market volatility that commenced in 2008. The markets experienced a very sharp downturn in 2008, and a remarkably quick recovery in the ensuing years. Investors were caught by surprise at the steep market decline in 2008, and some of them panicked, sold, and missed the market recovery. Human emotion tends to drive investors to make the wrong decisions at the wrong time.
Join us for a free webinar, where you will learn:
- Common Investor Mistakes
- Mental Roadblocks to Successful Investing
- Investment Strategies You can Implement to Avoid These Common Mistakes
This interactive webinar will be presented by OJM's Directors of Wealth Management Kim Renners, MBA, CPA (inactive) and Terry Allman, CPC, CRPC(R). OJM Group is a multi-disciplinary financial consulting firm serving more than 1,000 physician clients nationwide. Ms. Renners and Mr. Allman are co-authors of numerous articles on wealth management strategies for physicians and business owners and have conducted many seminars and webinars on these topics.
Join us for a free webinar, where you will learn:
- Common Investor Mistakes
- Mental Roadblocks to Successful Investing
- Investment Strategies You can Implement to Avoid These Common Mistakes
This interactive webinar will be presented by OJM's Directors of Wealth Management Kim Renners, MBA, CPA (inactive) and Terry Allman, CPC, CRPC(R). OJM Group is a multi-disciplinary financial consulting firm serving more than 1,000 physician clients nationwide. Ms. Renners and Mr. Allman are co-authors of numerous articles on wealth management strategies for physicians and business owners and have conducted many seminars and webinars on these topics.
February 18, 2012
Are you looking for BIG opportunities to reduce your tax bill for 2012 and beyond? Here are a few Important things you will learn in our October webinar:
-Corporate Structure. Pros and cons of different business/practice structures and strategies that can shield assets and reduce taxes for 2011.
-Qualified, Non-Qualified Hybrid & Other Benefit Plans. Tax and asset protection advantages of different benefits plans and how you can adjust your existing plan or implement a new plan before December 31 for 2011 tax savings.
-Changes in tax legislation and their effects on planning for your 2011 taxes.
-Tax planning tips for 2012
This interactive webinar was presented by Carole Foos, CPA. In addition to advising OJM Group's national client base, Ms. Foos is the co-author of numerous articles on tax planning strategies for physicians and other professionals.
-Corporate Structure. Pros and cons of different business/practice structures and strategies that can shield assets and reduce taxes for 2011.
-Qualified, Non-Qualified Hybrid & Other Benefit Plans. Tax and asset protection advantages of different benefits plans and how you can adjust your existing plan or implement a new plan before December 31 for 2011 tax savings.
-Changes in tax legislation and their effects on planning for your 2011 taxes.
-Tax planning tips for 2012
This interactive webinar was presented by Carole Foos, CPA. In addition to advising OJM Group's national client base, Ms. Foos is the co-author of numerous articles on tax planning strategies for physicians and other professionals.
October 26, 2011
Do you want to shield your personal and corporate assets from lawsuits, creditor claims or even divorce? If so, you won't want to miss our next webinar Corporate & Personal Asset Protection Planning.
Important things you will learn:
- Corporate Asset Protection planning: How to shield accounts receivable, real estate, valuable equipment or intellectual property from lawsuits.
- Cash Flow Protection: How to shield your most valuable asset, cash flow, from lawsuits
- Personal Protection: How to protect your personal assets, from your home and other real esate to personal investments and more.
- Asset Protection in Divorce: What works and what doesn't
This interactive presentation will be presented by OJM Group Principal David Mandell, JD, MBA. Mr. Mandell is a co-author of For Doctors Only; A Guide to Working Less and Building More, as well as numerous other books and articles on financial planning, wealth management and asset protection strategies for physicians and business owners.
Important things you will learn:
- Corporate Asset Protection planning: How to shield accounts receivable, real estate, valuable equipment or intellectual property from lawsuits.
- Cash Flow Protection: How to shield your most valuable asset, cash flow, from lawsuits
- Personal Protection: How to protect your personal assets, from your home and other real esate to personal investments and more.
- Asset Protection in Divorce: What works and what doesn't
This interactive presentation will be presented by OJM Group Principal David Mandell, JD, MBA. Mr. Mandell is a co-author of For Doctors Only; A Guide to Working Less and Building More, as well as numerous other books and articles on financial planning, wealth management and asset protection strategies for physicians and business owners.
September 29, 2011
OJM Group regularly hosts live webinars. View upcoming free webinars on topics including tax planning and healthcare reform.
