Practice Finance

If you've ever attended a trade conference, you know doctors love free stuff. So we're letting you know about a free financial planning book for physicians written by the president of a Dallas-based advisory firm.

When the government starts throwing around billions of dollars, everyone has the same question: What's in it for me?

I plan to add some bonds or other fixed-income assets to my personal investment portfolio. Would municipal bonds be a good idea?

A colleague told me I can give a certain amount of money, tax-free, to my kids each year. Is that true? Will it lower my taxes?

Our group practice has a 401(k) plan. I plan to defer the maximum $16,500 to the plan from my salary. I also do some medical-legal consulting on the side. Can I also establish a 401(k) plan for that business and fund another $16,500?

More than 44 percent of Americans rolled over their entire retirement account distributions to another tax-qualified plan in 2006.

How often should I update my will?

After years of handling my bank accounts perfectly, I made an error that created an overdraft, and I was charged a high fee. Is it worth contacting my bank to see if it will waive the fee?

Our practice is considering a lockbox arrangement. What are the basics?

My professional corporation borrows from a bank, yet the bank requires that I provide a personal financial statement annually. Why is that?

With mortgage rates heading lower, is now a good time to refinance my home?

Few of us learned anything about sound financial behavior from classes in high school or college, which leaves us to learn those lessons on our own -- and usually the hard way.

With real estate prices so low, I'm thinking about buying a single-family home as a rental property. Is it true that I can deduct the tax loss from this type of investment against the salary from my practice?

I hear radio ads and see things on the internet that say there are advantages to incorporating in states that don't levy income taxes. Is that true?

Most of my investments are in mutual funds. A friend of mine told me that I should pay attention to a fund's expense ratio and seek funds with low expenses. What does this expense ratio include?

The government's relief package comes with considerable tax breaks for professionals.

Don't overlook these possible deductions when it's time to file your 2008 taxes.

Every physician should recognize the need for tax planning and the benefits that can result from it. The simple goal is to defer or reduce your practice's tax bill whenever possible.

My spouse works in my medical practice. Should he be paid?

Is it better to give stock that has appreciated or depreciated to a charity?

Because my income is too high, I cannot make a deductible or Roth IRA contribution. Is there any advantage of making non-deductible IRA contributions?

I've made some recent investments in my practice that have caused me to take on some debt. My understanding is that the interest paid is not deductible. Any suggestions on how to better structure my debt?

Is my practice liable for a partner's questionable business expenses?

Despite volatility in the stock market, 60 percent of U.S. consumers say they are not altering their investment choices, according to a survey by a market research firm.

The one constant in life is change. A successful retirement plan must take that philosophy into consideration.

I've taken a beating in the stock market lately. How can I deduct my investment losses?

I hear that there are two types of professional corporations. What are the differences?

I'm finding that bank financing is a little tight right now. Can I borrow from my practice retirement plan?

I am a solo physician in private practice. Should I incorporate?

Although withdrawing bonds first from a diversified retirement portfolio extends its life 90 percent of the time, a bonds-first strategy is not worth the risk for today's retirees, according to a recent study.