David B. Mandell, JD, MBA

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

In this video interview, David Mandell, JD, MB, and Adam Braunscheidel, discuss why physician practices often have difficulties with retirement planning

Mandell is an attorney and founder of the wealth management firm OJM Group in Cincinnati, Ohio. Braunscheidel is a wealth adviser at OJM Group.

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?

The entire financial world was turned upside down during the years 2008 and 2009. Investors, executives, employees and the general public are left wondering, "Whom can I trust?" and "How will all these changes affect me?"

If you think medicine is a difficult business today, you are about to face your largest financial challenge ever. There is an approaching confluence of events that could have a significant financial impact on most doctors, unless you do something to protect yourself.