This course will educate attendees on how to make their practice as tax efficient as possible while also sponsoring the most beneficial qualified and non-qualified retirement plans for owners and/or managers. The talk will focus on 1) corporate structure for the practice and other related ancillaries and 2) how to reduce taxes at the practice and personal level under current law. In addition, it will examine current best practices in qualified retirement plan design, including how to reduce liability risks common in private practice settings. Finally, the under-utilized tool of non-qualified plans will be discussed, with real-world examples.
Learning Objectives:
At the conclusion of this presentation, participants should be able to:
Describe techniques for making their practice better protected and more tax efficient, so they can better focus on patient care.
Identify the pros and cons of using LLCs, S corporations, C corporations and disregarded tax entities for their practices.
Describe the views of success from a variety of individual, programmatic and institutional perspectives.
Explain the role of FEDA in recruiting and retaining faculty.
Define burnout and strategies to avoid this common barriers to wellness and academic success.