Carole C. Foos, CPA

In this month's Finance & Practice Management article, Carole C. Foos, CPA, and David B. Mandell, JD, MBA, give an overview of potential upcoming tax law changes.

In this month's finance and practice management article, David Mandell, JD, MBA, and Carole Foos, CPA, discuss estate planning for dermatologists.

“With a traditional QRP [qualified retirement plan], a participant trades today’s tax rates on their contribution for the tax rates in the future, when they withdraw the money from the plan. If rates rise, the QRP might prove not to be a good deal at all.”

Both legal and tax factors come into play when deciding on the best corporate structure for a dermatology practice.

In today’s litigious environment, asset protection should be part of physicians’ financial plans. Doctors should educate themselves and consider getting expert advice.